It's when you transfer your balance (or part of your balance) in an account to another account. Usually the accounts are in separate financial institutions. Although it applies mainly for credit cards, other financial product may also offer balance transfer.
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The purpose of a balance transfer is to transfer balance. Many credit card companies allow the transfer of balance from one card to another. That is a balance transfer.
She can transfer the balance onto a new card. It is known as a 'Balance Transfer'.
A balance transfer is when you have money in one bank and transfer that money to another bank. It is also when you have a balance on one credit card and transfer the balance to another credit card.
An individual may wish to transfer the balance of one credit card onto another. This is generally done when an offer on the original credit card is ending, or if the APR is higher than the new card. Often when doing this, the new credit card company may charge a fee, generally 1-5% of the balance transfer. When it says no balance transfer fee, it means there is no extra charge for a balance transfer.
A balance transfer is the transfer of balance in an account or a credit card to another account.It also refers to transfer of outstanding balance from one credit card to another credit card.