Balance transfer

A balance transfer is the transfer of (part of) the balance (either money or credit) in an account to another account, often held at another institution.

Types of balance transfers

There can be transfers between two similar types of accounts or different ones. These include:

• Credit card accounts
• Bank savings accounts
• Bank checking accounts
• Trading accounts at financial institutions

Transfers are sometimes facilitated by companies trying to recruit new consumers. Sometimes transfers are accompanied by transaction costs paid by the consumer.

See also

• Credit card balance transfer

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