Balance transfers for existing customers

When you have a credit card with us, we may get in touch about a 0% balance transfer from time to time. A balance transfer is when you move money from other UK credit cards or store cards to your Santander credit card. It could help save you money on interest or help you pay off your debt quicker as it means that you won’t pay interest on any balance you transfer, for a specific period of time. We’ll let you know how long.

You need to be the primary cardholder to transfer a balance
You can transfer more than one balance up to a total of 95% of your available credit limit. The smallest balance you can transfer is £100. You can also transfer part of a balance.

If you ask to transfer a balance that’s more than 95% of your available credit limit, only part of the balance will be transferred. For example, if you’ve a credit limit of £1,000 and you request a transfer of £1,500, then only £950 would be transferred.

Increasing your limit
You may want to increase your credit limit (subject to eligibility) so you can transfer a larger balance or reduce your credit limit to help manage your account. You can do it in Online Banking or by contacting us

Not everyone will be eligible to increase their limit.

What does transferring a balance to my card cost?
It’s whichever is the higher of: 

  • 3% of the balance you’re transferring, or
  • £5

So, for example, if you transfer a balance of £1,000, your card will be charged £1,030.

If you transfer a balance outside a 0% period, you’ll pay a balance transfer fee and interest will be charged at the standard purchase rate.

Using Online Banking:

Log on to Online Banking

If applying online you can only transfer balances from cards held in your name.

By phone:

Contact us

If applying by phone, you can transfer balances from cards either in your name or in the name of your additional cardholder/s.

You can’t transfer balances from:

  • Santander credit cards (including cahoot)
  • loans or current accounts
  • cards that aren’t in your name or the name of your  additional cardholder/s.

Your repayments
You should carry on making monthly repayments to the credit or store cards you’re transferring from, until you can see (on your statement) that the balance transfer has happened.
 
Purchases
If you also use your card for purchases during the 0% balance transfer period, you’ll be charged interest on those purchases. It’s important to clear the balance in full (including the balance transfer) before your next statement to avoid these interest charges.

If you don’t pay off your balance in full, payments we receive are applied to the highest interest bearing transactions first. We’ll pay off balances that are already on your statement before any new transactions. 
 
Full details of your current interest rates can be found on your monthly statement.

Your Direct Debit
If you have a Direct Debit set up to pay off your full balance each month, you’ll need to change it before you transfer a balance to stop the balance being paid off in the first month. You can do this in Online Banking 
 
Take a look at your credit card repayments to learn more

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