Follow Us
0BalanceTransfer » FAQs » Frequently Asked Questions » Balance Transfers » How long does a balance transfer take?
QUESTION:
How long does a balance transfer take?
ANSWER:
May 15th, 2013

Although many banks suggest you should give at least 30 days for the balance transfer to take place, it usually doesn’t take that long. With the convenience of EFT (Electronic Funds Transfer) some happen within just several days. If you have just applied for a new credit card you have to give the bank time to process your application and then make the transfer which is usually about 10-14 business days.

Be aware that there are other things that can affect the time it takes to complete your balance transfer as well. Applying for a balance transfer around a bank holiday or a big holiday such as Christmas can cause a delay. The use of a balance transfer check can slow the process because some banks will place the account on hold until the check clears.

Didn't Find an Answer to Your Question? Ask Our Expert Here.
BROWSE FAQs BY CATEGORY: