How Santander balance transfers work

Santander balance transfer credit cards let you transfer an existing credit card balance to a new card, and then give you a certain period of time to pay off the balance without paying interest.

Santander’s balance transfer offers

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Finder Score	Purchases	Balance transfers	Annual/monthly fees	Representative APR	Key benefit	Representative example
Promoted 9.1Excellent Santander Everyday Long Term Balance Transfer Credit Card	9.1Excellent	0% for 3 months	0% for 34 months (3.15% fee)	£0	24.9% APR (variable)	Representative example: Representative 24.9% APR variable. Based on assumed borrowing of £1,200. Rate of interest 24.9% p.a. (variable).	£15 Reward Finder Rewards: Get a £15 bank transfer when you join Finder. T&Cs apply.	Check View details Compare product selection Compare	loading
8.7Great Santander All in One Credit Card	8.7Great	0% for 15 months	0% for 15 months (0% fee)	£3 per month	29.8% APR (variable)	0.5% cashback after £1 of monthly spend. Maximum of £10 paid per month. Paid monthly into Card Account.	Representative example: Representative 29.8% APR variable. Based on £3 monthly fee, assumed borrowing of £1,200. Rate of interest 23.9% p.a. (variable).	£15 Reward Finder Rewards: Get a £15 bank transfer when you join Finder. T&Cs apply.	Check View details Compare product selection Compare	loading
7Great Santander Everyday No Balance Transfer Fee Credit Card	7Great	0% for 3 months	0% for 12 months (0% fee)	£0	24.9% APR (variable)	Representative example: Representative 24.9% APR variable. Based on assumed borrowing of £1,200. Rate of interest 24.9% p.a. (variable).	£15 Reward Finder Rewards: Get a £15 bank transfer when you join Finder. T&Cs apply.	Check View details Compare product selection Compare	loading
Not yet rated Santander Rewards Credit Card	Not yet rated	24.9%	24.9%	£0	24.9% APR (variable)	Representative example: Representative 24.9% APR variable. Based on assumed borrowing of £1,200. Rate of interest 24.9% p.a. (variable).	£15 Reward Finder Rewards: Get a £15 bank transfer when you join Finder. T&Cs apply.	Check View details Compare product selection Compare	loading
7.4Great Santander World Elite Mastercard Existing Customers Only	7.4Great	0% for 18 months	0% for 18 months (0% fee)	£15 per month	49.8% APR (variable)	Representative example: Representative 49.8% APR variable. Based on £15 monthly fee, assumed borrowing of £1,200. Rate of interest 18.9% p.a. (variable).	Continue View details Compare product selection Compare	loading

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How does a Santander balance transfer work?

When you take out a Santander balance transfer credit card, you’ll be able to transfer an existing balance you have on another non-Santander credit card. You can do this by logging into your Santander online banking account, or by contacting Santander via phone.

Once the balance has been transferred, you’ll have a number of months to pay off the balance before you start being charged interest, but this period will vary depending on which Santander credit card you have. If you haven’t paid off the balance by the end of this period, it will begin accruing interest at your standard purchase rate.

Santander balance transfer for existing customers

Unfortunately, you can’t transfer a balance from one Santander credit card to another, which means existing Santander card customers are not eligible for a Santander balance transfer. However, if you’re an existing customer, Santander may occasionally contact you with 0% balance transfer offers that allow you to transfer a balance from a non-Santander card.

How long does a Santander balance transfer take?

This will depend on where you’re transferring the balance from, and can take anywhere from one or two days, to up to two weeks. While you’re waiting for the balance to transfer, make sure you’re not missing any payments on your existing credit card.

Are there any restrictions?

There are some restrictions on the types of balances you can transfer using a Santander balance transfer credit card. These are:

• You can’t transfer a balance from another Santander credit card
• You can’t transfer a loan or current account balance
• You’ll need to be the primary cardholder of the other card
• You can’t transfer more than 95% of your available credit limit
• You’ll need to transfer a balance of at least £100

How much does it cost to transfer a balance with Santander?

Most Santander balance transfer credit cards let you transfer a balance with no additional fee, as long as you do so within the 0% balance transfer period.

Santander balance transfer step-by-step guide

1. Apply for a Santander balance transfer credit card. Try to find the card that gives you the best balance transfer deal.
2. Once approved, apply to transfer a balance via online banking or by phone. If using online banking, you’ll only be able to transfer balances from cards held in your name.
3. Wait for the balance to be transferred. Don’t close your old card account immediately, and make sure you confirm the balance has been removed from your old card.
4. Once it has been transferred, start repaying the balance. Try to pay off as much of the balance as you can reasonably afford.
5. If possible, make sure to pay off the entire balance before the end of your 0% period. This means you can avoid paying unnecessary interest on your balance.

How should I compare Santander balance transfer offers?

You should start with the cards that charge no annual fee and no balance transfer fee. If one of these can give you long enough to clear your balance within the promotional 0% period, then that’s likely to be your cheapest option.

What’s the typical Santander balance transfer rate?

Santander credit cards offer 0% periods on balance transfers, and these range from 1 month to over 2 years, depending on the card. If you don’t repay your balance in full before the end of your 0% period, you’ll be charged interest at your standard purchase rate. Typical Santander representative APRs range from about 22% to about 50%.

Bottom line

Santander offers a number of competitive balance transfer credit cards with extended 0% balance transfer periods. But if you’re looking to transfer a balance using Santander card, keep in mind that you’ll only be able to transfer up to 95% of your available credit limit, and won’t be able to move a balance from another Santander card.

Written by

Tom Stelzer

Writer

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Tom Stelzer is a writer for Finder specialising in personal finance, including loans and credit, as well as small business and business loans. He has previously worked as a freelance writer covering entertainment, culture and football for publications like FourFourTwo and Man of Many. He has a Master of Media Arts and Production and Bachelor of Communications in Journalism from the University of Technology Sydney. See full bio