Do you want to Transfer money from a Credit Card?

Post Office
Margin Rate: 2%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Travelex
Margin Rate: 5%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
CurrencyFair
Margin Rate: 3%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Natwest
Margin Rate: 5%
Minimum Transfer: £5000
Transaction Fees: £25
FCA Regualted: FCA Regulated
Ulster Bank
Margin Rate: 5%
Minimum Transfer: £5000
Transaction Fees: £25
FCA Regualted: FCA Regulated
OFX
Margin Rate: 1%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
AxiaFX
Margin Rate: 1%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Barclays
Margin Rate: 5%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Show all currency providers

How to send a money transfer using your credit card

How to send a money transfer using your credit card? Money transfer credit cards are a great way to get quick access to funds - much easier than through the traditional, laborious path of formal borrowing through your bank. They're typically used to pay off expensive overdrafts, but you need to be vigilant about keeping on top of repayments because promotional rates expire!

Do you want to Transfer money from a Credit Card?

What is a money transfer?
Many credit cards provide money transfer services that moves cash to another bank account or transfers an existing balance from one credit card provider to another.

Sending money with a credit card

They can pay cash straight into your bank account and may even charge little or no interest if paid back within an agreed period, although you might find that there's a fee to pay in cases of 0% interest. The 0% rate typically lasts for around 24-40 months, so it gives you a good window of opportunity to get that debt paid off.

Aren't credit card rates high?
Credit card interest rates can be prohibitive, so it often makes sense to transfer an existing balance to another card provider offering a 0% money transfer rate.

There are many options on the market, so it pays to shop around. However sending a money transfer by credit card is usually simple and often completed through a simple online application.

What are the benefits of money transfer?
Transferring a money balance can save you thousands in interest repayments and can provide you with a means of reducing a crippling debt.

Be aware, however, that after the 0% interest period has expired, you will be back to a typical APR that might even be higher than the card you transferred the balance away from.

How much does it cost?
There's usually a fee based on a percentage of the overall balance transfer. The fee is generally fairly low (around 3% on average).

Sending money internationally
Using your credit card to send a money transfer internationally can often be cheaper than transferring money via a standard bank account.

Money transfer credit cards

Sending money with a credit card can give you preferential exchange rates and can certainly be the choice if you're travelling and using your card to make purchases abroad. Many credit providers offer a 0% foreign purchase fee.

Can't I just make payments abroad with my debit card?
Your own bank is likely to slap on an admin fee for each and every foreign purchase and can end up costing you dearly. In additional, they're likely to offer you a lousy exchange rate, so finding a credit card that will not charge you for each transaction is a must for anyone spending money abroad.

What about Western Union?
Companies such as Western Union offer a simple method of sending money internationally. You can attach your credit card as a payment source and get money sent over quickly and conveniently.

Fees can be high, though. It can cost as much as $1 to send just $10, but the higher the figure you send, the cheaper it becomes. To send $400 it currently costs $15, so the charges do drop when you're sending higher figures.

What's the easiest way to send money using Western Union?
Western Union have their own apps for Android and iOS devices, making transferral as simple as pressing a few buttons.

Sending money with a credit card

Choosing the right option for you
Interest rates, promotional offers and fees are constantly changing, so it will pay to do a bit of research before you decide what is the best way to send money transfers by credit card. Take note of the duration of any promotional deals and make sure that you meet all the terms and conditions because one simple payment default can nullify the promotional deal.

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