Compare Our Top-Rated Money Transfer Credit Cards

Updated: 29th July 2021

A 0% money transfer credit card could be the answer if you’re in need of some extra money to pay down debts or want to make a large purchase that you can’t put on your credit card. If used correctly, this can be one of the cheapest forms of borrowing. With a money transfer card, you can move money into your bank account from your credit card, providing yourself with an interest-free loan.

The length of the 0% introductory period on the money transfer is important to consider when comparing money transfer credit cards, along with any money transfer fees and the card’s standard interest rate. Of course, reward points or cashback offers will help sweeten any deal.

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Here are MyWalletHero’s current picks for some of the top money-transfer credit cards

Credit card offers from our affiliate partners appear first and are ordered from highest rating to lowest, followed by other top-rated offers. You can read more about our ratings and page sort here. Offers from affiliate partners are marked with a *.

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Great for: Very long balance transfer period
4 stars question mark

If you’re looking for an extra long balance transfer period, this may be the credit card you’re looking for. This card is all about the core interest-free offerings. It has a long 0% balance transfer term of 29 months (3% balance transfer fee). This is combined with 0% on money transfers for 20 months (4% fee here) and 0% on purchases for three months. In a relatively cautious lending market, it is rare to find a card that offers an interest-free term on all three features.

Read full review >

CREDIT RATING req:

  • Poor/No credit
  • Fair/Average
  • Good/Excellent

HIGHLIGHTS

  • 0% for 29 months on balances transferred in the first 60 days (3% fee applies)
  • 0% on purchases for three months
  • 0% for 20 months on money transfers made in the first 60 days (4% fee applies)
  • No annual fee
  • Virgin Money Back cashback scheme and other benefits

REPRESENTATIVE EXAMPLE

Representative 21.9% APR variable
Purchase rate 21.9% variable for purchases
Credit limit Assumed credit limit of £1,200
Annual fee No annual fee

what we like

  • 0% on balance transfers for 29 months (3% fee applies)
  • 0% on purchases for three months
  • 0% on money transfers for 20 months (4% fee applies)
  • ANNUAL FEE:

    £0
  • REPRESENTATIVE APR:

    21.9%
  • INTRO OFFER:

    29 months 0% interest on balances transferred in the first 60 days

KEY SCORES:

  • 3/5 Perks
  • 3/5Fees
  • 3/5APR

HIGHLIGHTS

  • 0% for 29 months on balances transferred in the first 60 days (3% fee applies)
  • 0% on purchases for three months
  • 0% for 20 months on money transfers made in the first 60 days (4% fee applies)
  • No annual fee
  • Virgin Money Back cashback scheme and other benefits

REPRESENTATIVE EXAMPLE

Representative 21.9% APR variable
Purchase rate 21.9% variable for purchases
Credit limit Assumed credit limit of £1,200
Annual fee No annual fee
Great for: Long 0% interest on purchases and balance transfers
3.5 stars question mark

The Virgin Money All Round Credit Card could help you to reduce interest payments on existing debt. It also stacks up well versus other 0% APR credit cards, since it offers a 19-month introductory 0% interest rate on purchases. Its range of rewards and offers could make it appealing to a broad range of consumers.

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CREDIT RATING req:

  • Poor/No credit
  • Fair/Average
  • Good/Excellent

HIGHLIGHTS

  • 0% interest for 19 months on purchases
  • 0% interest for 19 months on balance transfers (2.9% fee applies)
  • No annual fee
  • Discounts from Virgin Group companies when using your card
  • Access to Virgin Money Back for online shopping

REPRESENTATIVE EXAMPLE

Representative rate 21.9% APR (variable)
Purchase rate 21.9% p.a. (variable)
Based on borrowing £1,200

what we like

  • 0% interest for 19 months on purchases
  • 0% interest for 19 months on balance transfers (2.9% fee applies)
  • No annual fee
  • ANNUAL FEE:

    £0
  • REPRESENTATIVE APR:

    21.9%
  • INTRO OFFER:

    19 months 0% interest on purchases
    19 months 0% interest on balance transfers

KEY SCORES:

  • 4/5 Perks
  • 3/5Fees
  • 3/5APR

HIGHLIGHTS

  • 0% interest for 19 months on purchases
  • 0% interest for 19 months on balance transfers (2.9% fee applies)
  • No annual fee
  • Discounts from Virgin Group companies when using your card
  • Access to Virgin Money Back for online shopping

REPRESENTATIVE EXAMPLE

Representative rate 21.9% APR (variable)
Purchase rate 21.9% p.a. (variable)
Based on borrowing £1,200
Great for: Long 0% money transfer period
3 stars question mark

The MBNA Long 0% Money Transfer Card could be a great choice if you are looking for a long runway for interest-free money transfers. The headline offer of 0% for 24 months (a 2.99% fee applies) is one of the most competitive on the market, though depending on personal circumstances, you could be offered a shorter interest-free period. There is the added bonus of 0% on balance transfers for 12 months, but the 4% balance transfer fee is very high.

Read full review >

CREDIT RATING req:

  • Poor/No credit
  • Fair/Average
  • Good/Excellent

HIGHLIGHTS

  • 0% on money transfers for 24 months (depending on individual circumstances, a 2.99% fee applies)
  • 0% on balance transfers for 12 months (4% fee applies)
  • No annual fee
  • Fraudulent transaction cover

REPRESENTATIVE EXAMPLE

Representative 22.9% APR (variable)
Purchase rate 22.93% p.a. (variable)
Assumed credit limit £1,200
Annual fee £0

what we like

  • 0% money transfers for 24 months (depending on individual circumstances)
  • 0% on balance transfers for 12 months
  • No annual fee
  • ANNUAL FEE:

    £0
  • REPRESENTATIVE APR:

    22.9%
  • INTRO OFFER:

    0% for 24 months on money transfers
    0% for 12 months on balance transfers

KEY SCORES:

  • 2/5 Perks
  • 3/5Fees
  • 2/5APR

HIGHLIGHTS

  • 0% on money transfers for 24 months (depending on individual circumstances, a 2.99% fee applies)
  • 0% on balance transfers for 12 months (4% fee applies)
  • No annual fee
  • Fraudulent transaction cover

REPRESENTATIVE EXAMPLE

Representative 22.9% APR (variable)
Purchase rate 22.93% p.a. (variable)
Assumed credit limit £1,200
Annual fee £0

Frequently Asked Questions

What is a money transfer?

It’s when you transfer money from a credit card to your current account, ideally using a 0% promotional period.

What is a money transfer credit card?

When we refer to a ‘money transfer credit card’, we are talking about a credit card which provides you with a 0% promotional rate on a balance that you have transferred to your bank account. The length of the interest-free period depends on which card you take out. Note that some credit cards provide the option to do a money transfer, even though they don’t offer a 0% introductory period.

How does a money transfer work?

When you are approved for a money transfer credit card, and provide information to your credit card provider on how much you want to transfer and to which account, your lender will pay that money into your account and you will be required to pay back that amount to them.

How long does a money transfer take?

This will depend on your provider. Some transfers are made immediately after your application is accepted, while some take a few days.

What is a money transfer fee?

This is a fee that you often have to pay when making a transfer. A money transfer fee typically ranges between 2% and 4%.