Money Transfers

As an existing Bank of Scotland credit card customer you may be able to benefit from money transfer offers.

What is a money transfer?


A money transfer lets you transfer money from your credit card to any of your own UK current accounts. You can benefit from a promotional interest rate on the transfers you make, but a transfer fee may apply. It will form part of your credit card balance and is subject to repayments as part of your monthly statement balance.

A money transfer may be suitable for:

  • covering unplanned expenses - such as a broken boiler
  • one-off major expenses or purchases - such as a holiday
  • tidying up your finances - if it is appropriate to do so.

What types of offers are available?


There are two types of promotional offers:

  • 0% interest rate for a set period of time and are subject to a one-off fee , typically 3%. No interest is charged during this period and the fee is added to your total balance
  • Low interest rate for a set period of time which typically have no fee (0%).

Please note: To keep any promotional rate, you must stay within your credit limit and pay at least the minimum payment on time each month.

What are the benefits of a low interest offer?


These are some of the benefits of a low interest offer:

  • Low interest offers could provide a cheaper way to borrow for a longer period
  • Generally low interest offers have lower or no fees compared to 0% periods
  • Could save you money if you are paying a higher amount of interest elsewhere.

Am I eligible?


You can check your eligibility through Internet Banking. If eligible, you will be able to view the offers available to you. Offers may not always be available on your account.

How much can I transfer?


Money transfers must be a minimum of £100 and the total amount you’ll be able to transfer will need to be less than your available credit limit.

This is to allow for the money transfer fee and any other fees, charges or transactions which haven’t yet reached your account.

How long will the transfer take?


After we approve the request, the transfer will normally arrive by the next working day.

Working days do not include weekends or bank holidays.

What if I need a credit limit increase?


If you want to make a money transfer but your available credit limit isn’t sufficient to complete the transfer, you can apply for a credit limit increase online. Simply select the ‘more actions’ button on your credit card account and then the ‘manage credit limit’ button.

Apply for a credit limit increase

How do I view my offers and transfer money?


If you're registered for Internet Banking, you can view your money transfer offer and process the transfer online securely. From ‘My accounts’ select the ‘Balance and Money Transfer’ button next to your credit card account and follow the instructions on the screen to view your offers and undertake the transfer.

View your money transfer offers 

Register for Internet Banking

Balance transfers


Thinking about making a balance transfer? As an existing Bank of Scotland credit card customer you could benefit from balance transfer offers, which could help you save money and manage your finances.

Read about our balance transfer offers and process, which lets you transfer balances from another credit and some store cards.

Balance transfers

  • To make a money transfer you will need to have a UK-based current account in your name and address
  • Money transfer applications are subject to eligibility and security checks but these will not leave a footprint on your credit file
  • Keeping promotional rates - To keep any promotional rate you must make the minimum payment by the payment due date each month and not go over your credit limit
  • After your promotional period ends, you will be charged the standard interest rate, which can be confirmed on your statements
  • Low interest offers charge interest daily, we add together all the daily interest amounts in each statement period and add the total to your balance on your statement date
  • Section 75 Purchase Protection does not apply - Anything you buy using funds from a money transfer won’t benefit from the protection given by Section 75 of the Consumer Credit Act 1974 – unlike some credit card purchases
  • Payment allocation - we use your payments to pay off the balances charged at the highest interest rate first, so your more expensive balances are paid sooner. Your payment will include any interest or charges incurred as a result of those balances
  • Other borrowing options - Before you apply for a money transfer it's worth considering other ways to borrow, as well as any savings you may have, as these could be better options for you. Read more about other ways to borrow.

A money transfer is where you transfer money that’s available from your credit card to your own UK current account.

This could help you when the person or business you are paying doesn’t take credit cards or you receive an unexpected bill.

Remember that fees may apply.

The money transfer, including any fees, is added to your credit card balance and is subject to your normal monthly repayments.

Money transfers are not available to every customer and are subject to eligibility.

You should check whether a money transfer is right for you, as there could be other borrowing options that may better suit your needs.