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What is a money transfer?

A money transfer lets you move up to 95% of your credit limit into your current account. They're pretty handy, so we're really pleased to be one of the few credit card providers who offer them.

Once the money hits your account, you can use it however you like:

  • Pay for bigger purchases
    A money transfer can pay for one-off bigger buys like a car, holiday or some home improvements.
  • Get money quickly
    Pay for unexpected expenses such as vet bills, car repairs or replacing home appliances with a money transfer.
  • Pay off debt
    If you’re offered a 0% interest money transfer you could pay less interest and save some money.

Always make sure you can afford the monthly payments. We'll stop any promotional rate offered and charge the standard interest rate if you miss a payment.

Representative example

Purchase rateThe purchase rate is the interest rate we will charge on any purchases you make with your Virgin Money Credit Card. When you open your account you may be offered a purchase rate. After that, we'll increase it to the rate shown here.

24.9% p.a.

(variable) on card purchases

Equivalent toAPR stands for Annual Percentage Rate. It is made up of the standard interest rate on purchases, outside olf any promotional rate, along with any other charges you may have to pay. You can use this rate to compare different credit cards.

24.9% APR

representative (variable)

Based on borrowing

£1,200

UK lenders use £1,200 to make comparing cards easier. It doesn't reflect the credit limit we'd offer you.

Up to 12 months interest free

Offer available from account opening and is subject to eligibility. Money transfers have a fee. Standard interest rates apply when the offer ends.

Our 0% promotional rate is available to eligible customers on the following credit cards:

Browse all our credit cards

Questions about money transfers

  • Have you been offered a promotional interest rate and fee? It's important to know how long it will last and what the standard interest rate will be when it ends.
  • Will you save money in the long run (even if you start off by making a saving every month)?
  • Does your existing lender charge an early repayment fee?
  • You’ll need to make your minimum payment when it’s due. If you don’t, we'll stop any promotional rate you've been offered (from the start of that statement period). So it’s worth setting up a Direct Debit to meet your monthly repayment.
  • When a promotional rate ends, or we stop it, we'll charge the current standard interest rate.
  • If you're offered a promotional rate and fee, this would only apply on transfers made in the first 60 days from account opening. After this, we'll charge you the current standard interest rate.
  • You shouldn’t use your money transfer to repay other borrowing from us (like a loan, overdraft or mortgage).
  • It is a good idea to set up a Direct Debit to meet your monthly repayment to help you pay off your balance. This can also help you avoid missing a payment, which will result in the withdrawal of any promotional rate you've been offered.

It's easy to apply, and we’ll let you know if your transfer request has been approved as soon as possible.

If you apply as part of your credit card application and we approve, we’ll get the money to your existing credit card provider three to four business days after you ask for the transfer.

You can also apply to make a transfer once your account is up and running. If you ask for the transfer:

  • Before 4pm, Sunday to Thursday, we’ll get the money to your existing credit card provider the next business day.
  • After 4pm, Sunday to Wednesday, we’ll get the money to your existing credit card provider in two business days.
  • Between 4pm Thursday and 12am Sunday, we’ll get the money to your existing credit card provider the following Monday (excluding Bank Holidays).

New customer? You might be offered a 0% interest promotional rate. If you do, you'll get this rate as soon as you open an account - something not all credit card providers offer.

You can transfer money to a UK bank or building society account in your name.

  1. Just tap the ‘Payments’ icon and follow the instructions.
  2. Read through the ‘Important Information’ section carefully before you complete the transfer.
  3. You'll need your password. This will be at least 8 characters chosen from 3 or more of these categories: numbers, upper case letters, lower case letters and special characters (such as *!@?).

Please check your transactions to make sure your money transfer request has been completed as expected. If you have frozen your card your money transfer won't be approved.

Legal stuff

You’ll need to make your minimum payment when it’s due. If you don’t, we’ll stop your promotional rate (from the start of that statement period). So it’s worth setting up a Direct Debit to meet your monthly repayment.

You will not be able to transfer a balance from another Virgin Money, Clydesdale Bank, Yorkshire Bank or B credit card and should not use your card to repay other borrowing from Clydesdale Bank PLC.

Credit is available, subject to status, only to UK residents aged 18 or over.

Calls are charged at your service provider’s prevailing rate and may be monitored and recorded.

The Virgin Money Credit Card is issued by Clydesdale Bank PLC (trading as Virgin Money). Registered in Scotland (Company No. SC001111). Registered Office: 177 Bothwell Street, Glasgow, G2 7ER. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.