New Balance and Money Transfer rates

CSKBrambles · 09-09-20, 09:26

I'm interested in a new balance and money transfer rate offer. The 0% interest for 18 months on balance and money transfers is very appealing.However, i'm unclear about the conditional 2.99% fee, £5 min as below. 1. 0% interest on balance transfers, until your April 2022 statement (2.99% fee, min.£5).2. 0% interest on money transfers until your April 2022 statement (2.99% fee, min.£5). I would appreciate some clarification, Thanks, Chris

**Tesco-Bank** · 09-09-20, 09:32

Hey, the 2.99% fee of the amount transferred is charged at the time of the transfer (and minimum fee is £5), so if you transferred an amount today it would be subject to this fee straight away but you wouldn't pay interest on the balance transferred till April 2022 - Ross

25H · 09-09-20, 09:36

Morning Chris, The 0% interest for 18 months on balance and money transfers is very appealing as you say.Although they're not charging interest on balance and money transfers until your April 2022 statement there is a 2.99% fee for the transfer on either of the amount on the balance and money transfer amount.Should this be below £5 (although it would be a transfer of only £167 or less) there is a £5 minimum.Caz

CSKBrambles · 09-09-20, 09:53

Thanks Caz, I think i'm with you now, the interest is 0%, but there is a flat fee of 2.99 % on all balance and money transfers made. The £5 min shown is the minimum flat fee charge, is that right ?Regards, Chris,

CSKBrambles · 09-09-20, 09:58

Thanks Ross, That explains everything perfectly !Regards, Chris,

25H · 09-09-20, 10:03

Absolutely Chris Caz

CSKBrambles · 09-09-20, 10:05

Thanks Caz, I'm happy to accept your explanation, it's solved !Regards,Chris

New Balance and Money Transfer rates

New Balance and Money Transfer rates