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What is the difference between a money transfer and a balance transfer?

A money transfer allows you to transfer money to your bank account, while a balance transfer allows you transfer a balance from another credit card.

Please note our fees for money transfers and balance transfers may differ.

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Last update:
‎14-12-2016 02:44 PM
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Does anybody know what bank account and sort code tesco credit card uses to pay another credit card. Thanks

Hi @Spammy57 the reference on any transaction would be "Tesco Bank" but we don’t give out the details of which account this would be transferred from. 


I opened my tesco credit card with a balance transfer however the balance I transferred has not shown up and its showing me a transfer value of much less than I originally transferred?

Hi @mariaws30,


Your balance transfer is stored, ready to be processed once you activate your card. We take that as a signal that you have received your card. You can activate the card by phoning us or on the mobile app. Your balance transfer would then complete in 3 working days. If you're still not sure or if you're having trouble activating the card please call us on 0345 300 4278 - Tristan


How long does it take for a money transfer? Would it be transferred same day?

Hi @Abid1412,


If you request a money transfer before close of business on a working day (before 5PM) then this will be processed and in your chosen account by the end of the next working day.


If you request this after 5PM or on a non-working day then it will be 2 working days later (e.g. if you request this on a Saturday it would typically reach the account by the following Tuesday, however, if you requested this before 5PM on the Monday then it would also be in the account on the Tuesday).


I hope that helps!




can i use my credit card to pay a balance on someone elses credit card?

Hi @ray147 no you're unable to pay a credit card using a credit card.


Ive just been accepted for a Tesco credit card with 0% balance transfer but on application it was not accepting my vanquis card details.  I have done a google search on this and it seems to be a problem for quite a few people, some saying it is not allowed.  

Please could some one tell me if it is possible to transfer my balance from vanquis to Tesco card and if so, how do i go about it?


This was the main reason for me appying.

Hi @dragonfly_2017


Sorry to hear about this. I have spoken to our credit card team who have told me that we definitely can do balance transfers from vanquis credit card accounts. If you give us a call on 0345 300 4278 (24/7), one of our credit card advisors will be able to take you through the balance transfer process.