A money transfer lets you transfer money from your credit card to any of your own UK current accounts. Watch this short video if you want to know more.
Money transfers can be helpful covering unplanned expenses or a one-off major purchase. Also, money transfers let you use a credit card’s available funds in situations where you can’t use the card. This is because the transferred money can be taken out of your current account as cash or used to pay for things with your debit card.
You are planning to pay a £500 car repair bill with available funds from your credit card. Unfortunately, the garage does not accept credit cards and you do not have the £500 available in your current account. With a money transfer, you can transfer the £500 from your credit card to your current account and then pay the repair bill with your debit card or cash.
If you’re eligible, you’ll find your money transfer offers when you sign in to Online Banking. Then, just follow the simple on-screen instructions. Make sure you have the details of the current account you want to transfer money to if it is not a Halifax current account. Also, make sure you understand the terms and conditions.
If your available credit limit isn’t sufficient to complete the transfer, you can apply for a credit limit increase online. Simply select the ‘More actions’ button on your credit card account and then the ‘Manage credit limit’ button.
After we approve it, the transfer will normally arrive by the next working day.
The minimum balance you can transfer is £100. The maximum will need to be less than your available credit limit. This is to allow for any money transfer fee plus any other fees or transactions.
Money transfer lets you transfer money from your credit card to any of your own UK-based current accounts. Balance transfers are about moving credit or store card balances to a different credit card. To find out more, visit our balance transfer page.
Money transferred from your Halifax credit card to your current account will not benefit from protection under Section 75 of the Consumer Credit Act 1974. This is because the purchases will be made from your current account rather than credit card, and therefore do not qualify for protection.
We generally offer two types of promotional offers on money transfers once you have successfully applied for one of our credit cards: