Money transfer credit cards are credit cards that allow cash to be transferred directly from the credit card into a UK bank account, usually in return for a one-off fee and, in some cases, a temporary 0% interest period.
Best Money Transfer Credit Cards January 2026
We’ve shortlisted the best five money transfer credit cards based on cards that offer a genuine money transfer feature (not cash withdrawals or balance transfers) with the longest available 0% periods, the lowest transfer fees, and broad availability to new applicants.
- Tesco Bank Clubcard Credit Card (Money Transfer) – Market leader with 14 months at 0% and a 3.99% fee, making it the cheapest all-round option for clearing overdrafts or getting short-term cash.
- Virgin Money Money Transfer Credit Card – A strong alternative offering 12 months at 0% with a 4% fee, often easier to get accepted for if Tesco odds are lower.
- MBNA Money Transfer Card – Shorter 9-month 0% period with a 4% fee, but competitive if you only need cash for a brief, clearly planned repayment window.
- Tesco Bank Clubcard All-Round Credit Card – Similar to Tesco’s main offer, combining long 0% money transfer periods with solid customer satisfaction scores.
- Virgin Money Balance Transfer Cards with Money Transfer Options – Some Virgin cards allow limited money transfers early on, useful if you’re consolidating multiple debts at once (but timing is critical).
Note: Provider reputation and customer satisfaction scores were used as secondary filters, while rewards and ancillary perks were excluded, as the primary purpose of these cards is low-cost, short-term cash borrowing that is repaid in full before interest applies.
Can you use a credit card for a money transfer?
Yes, you can use a credit card for a money transfer, but only if the card explicitly offers this feature.
A money transfer credit card allows the provider to send cash directly from your credit card into your bank account, usually in return for a one-off fee. This is different from withdrawing cash at an ATM, which normally incurs immediate interest and extra charges.
If the card offers a 0% money transfer period, no interest is charged during that time as long as you make at least the minimum monthly repayment.
What is the best credit card for transfers?
The best credit card for transfers is usually the one with the longest 0% period and the lowest transfer fee.
In the UK, this typically means a specialist money transfer card rather than a standard balance transfer or spending card.
The best option can vary depending on acceptance chances, but cards offering around 12–14 months at 0% with a fee of roughly 4% or less tend to provide the lowest overall cost when the balance is repaid before interest applies.
What is the 2/3/4 rule for credit cards?
The 2/3/4 rule for credit cards is a general borrowing guideline rather than a formal regulation.
It usually refers to keeping credit utilisation under 30%, having no more than two or three active credit cards, and avoiding applying for more than four new credit products in a short period.
Following this rule can help protect your credit score by showing lenders that you are not over-reliant on credit or applying too frequently.
Does money transfer hurt your credit score?
A money transfer can temporarily affect your credit score, but it does not have to damage it long term.
Applying for a money transfer credit card involves a hard credit check, which may cause a small, short-term dip. After that, your score depends on how you use the card.
Making all payments on time and staying within your credit limit can improve your credit profile, while missed payments or high utilisation can harm it.
How to transfer money from a credit card to a bank account
To transfer money from a credit card to a bank account, you must use a card that supports money transfers.
Once approved, you request the transfer through the card provider’s app, online banking, or customer service, specifying the amount and the destination bank account.
The provider then deposits the cash into your account and adds the balance (plus any fee) to your credit card. To keep costs low, the transfer should be made within the card’s qualifying window and repaid before any 0% period ends.
Compare Different Types of Credit Card
Best Credit Cards
Everyday credit cards offer you the most flexibility for everyday use while having a reasonable interest rate, a balance transfer option and an initial interest-free period on purchases.
Balance Transfer Credit Cards
Astute credit card holders know they can shop around for a new card and transfer the balance from their old one, benefiting from a lower interest rate or even an interest-free period. Balance transfer credit cards are also a great way to consolidate debt from several cards to one.
Rewards Credit Cards
Reward credit cards are an easy way to earn hundreds of pounds in bonuses, just for your normal spending. But while some offers look valuable, you might be paying through the nose in interest fees. Also, consider whether the rewards offered are worthwhile to you.
Cash Back Credit Cards
You’ll be familiar with the cashback concept, where you earn rewards in the form of money or credit on your account when you spend. You must shop around as the “earn rate” varies, while some cards affiliated to a brand reward more for spending with that brand.
Travel Credit Cards
Don’t get hit by high fees when using your credit card abroad. Look for a credit card that offers no fees on foreign transactions and preferably some rewards as well.
Bad Credit Credit Cards
When you have a poor credit score, perhaps because of bankruptcy or some form of previous default, you can begin to rebuild your score using these cards. For those with credit problems here are our top ten bad credit credit cards.
Money Transfer Credit Cards
Using a credit card to pay off your expensive bank overdraft (or another loan) makes total sense when you can do so interest-free. Therefore, look for a card that has the longest 0% money transfer period and pay off as much as you can from the card quickly.
Air Miles Credit Cards
Bag yourself free travel simply by spending on your credit card. But select your card carefully as only some offer air miles, and some are more generous than others.
Purchase Credit Cards
If you use your credit card simply for purchases and are not concerned about balance transfers and other perks, you need to look at any interest-free purchase promotional period, followed by an ongoing generous low APR.