Balance transfer

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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. It is most commonly used when describing a credit card balance transfer.

Types of balance transfers[edit]

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

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

See also[edit]