A balance transfer is when you move the balance from one credit card to another, usually to take advantage of a lower interest rate or interest-free period. This can help you to pay off your credit card balances in a more manageable way, at a lower rate and with one monthly payment.
If you have a balance transfer offer from HSBC, we may charge a balance transfer fee (minimum £5) on each balance transferred from another card. The actual amount of this fee depends on your offer and transfer amount. It will be added to your statement balance. The minimum amount you can transfer is £100.
How a balance transfer could help you
- Manage all your card balances in one easy place
- Save on how much interest you pay each month
- Pay off as much as you can during any promotional periods to pay less interest
How to request a balance transfer
Check what offers are available to you and request a balance transfer on our latest mobile app1.
- Log on to the HSBC UK Mobile Banking app and select your credit card.
- Go to ‘View more’.
- Select ‘Balance transfers’ to see what offers you have available to you.
- Follow the instructions on the screen.
- Review the information displayed and select ‘Confirm’.
To make sure you select the correct card issuer in the app, you can use the search tool or just scroll down the list until you find the correct card type (for example, Visa or Mastercard). If there are several to choose from, select the option which matches the first few digits of your card number.
Don’t have the app?
What's needed to complete a balance transfer
You'll need both cards so that you can provide details, including the long 16-digit number on each card.
Can't see your balance transfer on the app?
If you've made a request but can't see it on the app straight away, please don't send it again. Your balance transfer won't show until the next working day.
If you make the same request more than once, you could end up with more than one balance transfer.