What is a money transfer?

When you move money from your credit card account to your UK bank account, that’s a money transfer.

How is a money transfer useful?

  • Handy when you can’t pay by credit card and you don’t have enough money in your current account to make a purchase.
  • For unexpected and large expenses when you can’t pay by credit card and need to spread costs over a few months.

Can I transfer?

Transfer to your UK current accounts – money transfers can only be requested and sent to UK current accounts held in your name – not to other accounts, either in the UK or overseas.

£100 is the minimum transfer amount. The maximum balance transfer amount is 93% of your credit limit, allowing for potential fees and any in-flight transactions which haven’t reach your account yet.

Important to know

Check the transfer rate – most people transfer money while there are introductory or promotional interest rates available, although you can transfer money at the standard interest rate too.

Transfer fees might apply – money transfer fees are usually a percentage of the transfer amount, and apply to each individual transfer. Remember to account for these when weighing up your options.

Transfers are subject to security checks, so they’re not guaranteed.

Here's a simple example of how a money transfer works

Imagine you've got a credit card offering 0% on money transfers for 12 months, with no other balances on the card.

The situation

Your boiler breaks unexpectedly, leaving you with a repair bill of £500, but you don’t have enough money in your bank account and the tradesman you’re using doesn’t accept credit cards.

You have a credit card offering 0% interest for 12 months on money transfers made within the first 60 days, with a 3% transfer fee.

Making a transfer

You request a transfer request for £500, which is approved. The outstanding balance on your credit card is now £515, including the 3% transfer fee. £500 is transferred to your current account, which you can use to pay for your boiler repairs, either with cash or by debit card.

Paying it back

If you pay £51.50 on time every month, and you don’t use your card to make any other purchases, you could clear your balance within 10 months, without paying any interest.

It’s useful to know that the standard interest rate will apply to any remaining balance when the promotional interest rate expires.

Things to consider before you transfer

  • Remember to check all fees and interest rates, just to make sure a money transfer is the right option for you.
  • Purchases will not be protected under Section 75 of the Consumer Credit Act 1974 when using money transferred from your credit card to your current account – unlike some purchases made with your credit card.
  • Be realistic about how long it’ll take to repay your balance. After any introductory or promotional interest rates expire, it’s important to know that your standard interest rates are likely to be higher.
  • You could lose any promotional interest rates if you break the terms and conditions of your credit card account, for example, by missing a payment or going over your credit limit.
  • Promotional interest rates won’t apply to all transactions, so you need to understand how using a money transfer credit card for other things could affect the cost of borrowing and time to repay.

Requesting a money transfer

Existing Halifax customer?

You can request a money transfer in a few ways:

  • Online Banking sign in or register to get started.
  • Mobile Banking app – again, simply sign in.
  • Call 0345 944 4555 (or +44 (0) 1733 573 189 from outside the UK). Speak to an adviser 8am – 8pm Monday - Friday, 9am - 5pm Saturday - Sunday.
    Not all Telephone Banking services are available 24 hours a day, seven days a week.

What you'll need:

  • The details of your UK current account – particularly the account number and sort code.
  • If applying online, you’ll need your Online Banking sign in details.
  • A phone – we’ll contact you to complete a security check.

Not a customer?

If you’re looking for a new Halifax credit card and you plan to request a money transfer, use our eligibility checker to find credit cards you’re likely to be accepted for, with no impact to your credit score.

It’s useful to know that not all credit providers offer money transfers, and they might not be immediately available to new customers.

Frequently asked transfer questions

A summary on money transfers

With a money transfer, move funds from your credit card to your UK bank account.


  • This could be helpful if you need to make cash-only purchases, or manage unexpected expenses.
  • You could take advantage of an introductory or promotional interest rate for a set period of time.
  • The minimum balance you can transfer is £100, the maximum is dependent on your credit limit.
  • Other ways to use a credit card include card purchases, balance transfers and cash transactions.

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