How to do a balance transfer
Learn more about how you get started with your balance transfer.
Subject to application and status. Terms and conditions apply.
What is a balance transfer?
If you're already an M&S Credit Card customer and complete a balance transfer, you're transferring credit you have from one provider to M&S Bank. Simply, you're moving your existing credit or store card balance with another provider, to your M&S Credit Card. Learn more about balance transfer credit cards.
What do I need to start my balance transfer?
Before you start you'll need:
- The amount(s) you wish to transfer
- The details of your existing card provider(s) including the type of card and card number
- Your M&S Credit Card
Register for Digital Banking
If you have a balance transfer offer and wish to apply digitally, you need to be registered for our Digital Banking services.
Activate your M&S Credit Card
To complete a balance transfer your card needs to be activated. You can do this in the M&S Banking App.
Know your credit limit
Make sure your credit limit covers the amount you wish to transfer. You can find this on a recent statement or on the letter that was sent with your M&S Credit Card or you may have received an SMS from us. You can also find your credit limit in the app. Just select your credit card and pull down on the grey tab just above the word 'Transactions'.
Check your cleared balance
If you are wanting to transfer a full balance, make sure all payments have cleared on the account you are transferring from, before requesting to transfer the balance over to us.
Transferring a credit card balance in our app
If you need help with how to request a balance transfer in the app, just watch our handy video to see how or follow the steps below:
- Sign in to the M&S Banking App and select your credit card.
- Select 'View more' then select 'Balance Transfers' to see what offers are available to you.
- Follow the instructions on the screen for a new request.
You'll need to have downloaded the M&S Banking App to transfer a balance via the app.
Video Script
How to make a balance transfer
(Using the M&S Banking App)
You can transfer credit or store card balances to your M&S Credit Card
using the M&S Banking App.
Available on compatible devices for main cardholders.
Sign into the app with face, fingerprint or your Digital M&S PASS PIN.
Make sure you’ve already activated your M&S Credit Card
- you can do this by going to ‘Activate card’ in ‘Manage cards’ and following the prompts.
You’ll also need the credit or store card provider name, card number and amount you wish to transfer.
Only non M&S Credit Cards are eligible for a balance transfer. We can’t process balance transfers for all cards. Balance transfers are subject to status, affordability and terms and conditions.
Go to your credit card account on the Balances screen.
And select ‘Balance Transfer’
A fee applies to each amount transferred, this will be added to your credit card balance. You should continue to make payments to your existing provider until the transfer is complete.
If this is your first balance transfer on your M&S Credit Card,
Before you get to your offer screen you will see a set of balance transfer information screens.
And if you have an offer, you will see it here.
If there are no balance transfer offers shown, this means there are currently no offers available for your card.
If you have made balance transfers before on your card,
you will see a dashboard showing you these.
In this case, simply select ‘Request another BT’ to see if you have an offer.
To take advantage of your offer, select ‘Request balance transfer’.
To continue, scroll down to read and accept the terms and conditions.
Then, select the credit or store card provider name you wish to transfer a balance from.
Enter the credit or store card account details and amount you wish to transfer
and check all the information is correct before confirming.
Your balance transfer request will not be visible straightaway in the app. Don’t worry, your request is being processed and there is no need to submit again.
Now use face, fingerprint or your Digital M&S PASS PIN to confirm it’s you.
That’s it! Your balance transfer request has been submitted.
If we approve your request, payment will reach your other provider by the end of the next working day. If we receive your request after 15.30 or on a non-working day, we’ll treat it as if it was received on the next working day.
Security matters
Thank you for watching.
Available on compatible devices for main cardholders.
Transferring a credit card balance in Internet Banking
Watch our handy video or follow the steps below:
- Sign in to Internet Banking and select 'Balance transfers' under 'Quick links' to see what offers are available to you.
- Complete the online balance transfer form.
Not registered? Find out how to register for Internet Banking
Video Script
How to make a balance transfer
(Using Internet Banking)
You can transfer credit or store card balances to your M&S Credit Card
using our online balance transfer service.
Sign into your Internet Banking account.
Make sure you’ve already activated your M&S Credit Card
Before you start, you’ll need the credit or store card details and the amount you wish to transfer.
Only non M&S Credit Cards are eligible for a balance transfer. We can’t process balance transfers for all cards. Balance transfers are subject to status, affordability and terms and conditions.
Next go to ‘My Accounts’ in the menu
and select your M&S Credit Card account.
Now select ‘Balance Transfer’ from the menu.
If there are no balance transfer offers shown, this means there are currently no offers available for your card.
Then fill in the online transfer form
A fee applies to each amount transferred, this will be added to your credit card balance. You should continue to make payments to your existing provider until the transfer is complete.
Follow the instructions to authenticate with your M&S PASS
and check all the information is correct before confirming.
That’s it! Your balance transfer request has been submitted.
If we approve your request, payment will reach your other provider by the end of the next working day. If we receive your request after 15.30 or on a non-working day, we’ll treat it as if it was received on the next working day.
And remember, you can also view and manage your balance transfer in the M&S Banking App.
Available on compatible devices for main cardholders.
Security matters
Thank you for watching.
Transferring a credit card balance with a call
You can also apply for a balance transfer by calling 0345 266 1349. Lines are open 8am-8pm.
Important things you need to know when completing a balance transfer
- Online balance transfers won't show straight away. Don't worry, we will let you know once your balance transfer has been processed.
- The minimum you can transfer is £100 per balance transfer and you can only transfer one balance at time.
- We accept balance transfers from most credit or store cards held with other lenders.
- All balance transfers are subject to available credit limit.
- If you haven't paid off the amount you transferred after your promotional period ends, you will start paying the standard interest rate for purchases as shown on your statement.
- You can request a credit limit decrease at any time. Once you've had your M&S Credit Card open for 6 months, you can request to your increase credit limit. Requesting an increase is subject to status.
- If you have other balances on your M&S Credit Card, we will apply the interest rate noted on your statement on that amount. If you don't pay off your monthly statement balance in full each month, your repayment will be used to pay off any balance at the higher interest rate first.
- If you currently have a Direct Debit set up to claim your full statement balance each month, this will also include the full amount of the balance transfer. You may wish to consider amending your Direct Debit to either a fixed amount or the minimum payment if you don't want the full balance to be claimed.
- Once you've completed a balance transfer, you may want to amend your Direct Debit to the minimum payment, if you don't want the full balance to be claimed. You can simply do this by completing our Amend your Direct Debit form.
What happens next after submitting a balance transfer request?
- We will contact your existing card provider to initiate the balance transfer.
- Once the transfer is complete, the balance will appear on your next statement and your banking app or Internet Banking account.
A fee applies to each amount transferred (minimum £5), this will be added to your credit card balance. You should continue to make payments to your existing provider until the transfer is complete.
Looking to manage your balance transfer?
You can view the details of your balance transfer(s) in our app, including any outstanding balances and when your balance transfer rate ends.
Download or open our app today
If you've not downloaded the M&S Banking App you'll first need to register for Internet Banking to set up your digital username and password. You'll then use this information to sign in to the app.
If you're ready to start using the M&S Banking
App, head to the App
store
or Google Play store to download.
Please note device
restrictions apply.
Important documents
You may require Adobe PDF reader to view PDF documents. Download Adobe Reader
Supported Devices
Want to find out which devices the M&S Banking App is compatible with?
Not currently an M&S Credit Cardholder?
If you're not yet an M&S Credit Cardholder and you're thinking about moving your existing credit card balance to another credit card, take a look at our Transfer Plus Card.
Have a question about a balance transfer?
'Chat with us' is here to help you no matter what time of day or night so you can contact us at a time that suits you, even when our phone lines are closed.
Frequently asked questions
Are there other borrowing options?
Visit our ways to borrow page to understand more about the types of borrowing available at M&S Bank before deciding what is best for you.
What is a balance transfer credit card?
You can learn more about balance transfer credit cards with our useful guide.
I've forgotten my details to sign into the M&S Banking App or Internet Banking?
If you've forgotten your username, password, or M&S PASS PIN visit our forgotten details page. If you're a customer but not yet registered for digital banking, you'll need to register first.
Will my balance transfer request show straight away in the app and Internet Banking?
Your request will be visible on the balance transfer dashboard in the app or Internet Banking the next working day.
Please don't submit your request again. Whilst the request will not be visible in the app until the next working day, rest assured we are processing it.
For balances transfer requests made after 15:30 or on a non-working day we will assume the request has been made on the next working day.
Can I cancel a balance transfer I have requested in the app or Internet Banking?
No, once a balance transfer has been processed, we are unable to cancel, change or reverse it.
My balance transfer request is not showing in the app straightaway, should I resubmit?
No, please don't submit your request again. Whilst the request will not be visible in the app until the next working day, rest assured we are processing your request.
For balances transfer requests made after 15:30 or on a non-working day we will assume the request has been made on the next working day.
How long does it take to transfer a balance?
Your balance transfer application/s will show in the app 1 to 2 working days after your request has been made. The table below provides examples of when your balance transfer will be displayed in the app.
| Day submitted | Time submitted | Displayed in app |
|---|---|---|
| Monday | 9:00am | Tuesday |
| Monday | 3:30pm | Wednesday |
| Friday | 9:00am | Monday |
| Friday | 3:30pm (to Sunday night) | Tuesday |
Don't worry, it may take your other card or store card provider a few days to respond to us after we have processed a request. If you request a balance transfer, you should continue to make payments to your existing card provider for the balance transfer amount until you receive their statement showing the balance transfer.
What information can I view in the app and Internet Banking for balance transfers?
You will be able to view what current offers you have and the amount available to transfer.
I am unable to see how to see the 'balance transfer' button in the app.
The M&S Banking App is available on compatible devices. You may not be seeing the button as you are not running the latest version of our app. Please ensure you are running the latest version of our app to be able to use our latest features and functionality.
How do I amend my M&S Credit Card Direct Debit for my balance transfer?
Visit our ways to pay page where you can complete the online 'Amend your Direct Debit form'.
What happens at the end of the promotional period?
If you haven't paid off the amount you transferred after your promotional period ends, you will start paying the standard interest rate for purchases as shown on your statement.
Can I see my previous balance transfers submitted?
Yes, if your previous balance transfer is still active then this will be displayed on the mobile dashboard.
Why am I not seeing a balance transfer offer?
We update our offers at the start of each month. If you haven't got an offer by the 3rd of the month, please come back and check next month.
What cards can I not complete a balance transfer from?
Not all credit and store cards are eligible to complete a balance transfer. You can search for eligible cards when completing a balance transfer in the app. If your card is not listed, unfortunately it is not currently eligible.
Apple, iPhone, iPod touch, iPad, iPad mini, iPad Air, iPad Pro and the Apple logo are trademarks of Apple Inc., registered in the US and other countries and regions. App Store is a service mark of Apple Inc. iOS is a trademark of Cisco and used by Apple under licence. Android, Google Play and the Google Play logo are trademarks of Google LLC.