Can someone answer this please ?
I have a zero balance transfer credit card, the fee is only 2.5%
Would like to transfer my my flex balance over there. Can someone confirm this is possible?
Do I use my Monzo debit number or do I use the virtual flex number for the transfer?
Flex doesn’t support balance transfers I’m afraid.
Trying to remove the balance from flex not to flex so taking 500 from flex to my credit card? Is that possible ?
Credit card company just need the card details ?
In which case, give the credit card company the details and see what happens.
But which card ? The debit card or the virtual credit / flex ?
Try the first one first, if that doesn’t work, try the other one. If neither work, then @Carlo1460 was right.
I mean it doesn’t matter, response above states it’s not possible
You can’t move your flex balance, it’s not possible, as it’s not a credit card as you’ve had before.
You’d have to add funds to your debit card, which you can’t do easily from a credit card, and then pay off flex the usual way.
You’re asking to move the flex balance to your credit card, which can’t be done in the way you want.
That’s not really transferring the balance, that’s paying it off with essentially a loan.
I also don’t wanna come across giving financial advice
Although the medium is different the end result is the same (for this purpose). The balance would be transferred from one card to another (or flex account). So a balance remains on a card.
On one of my CC i get better money transfer fee/0% compared to a balance transfer
Some credit cards Barclaycard for example offers money transfer. Like 2.5% transfer fee + 17 months 0%. They will transfer requested amount to your Debit Card and then you can settle flex account.
Surely this is possible to do?
I’d say giving customers an easy way to tally up debt then not allowing them to balance transfer over to a credit card at 0% is a bit of a .
I’ve cancelled my Flex already, but with any credit product, knowing there’s a cheap exit route at the end should my financial life take a turn for the worse is incredibly important to me and I’m sure it’s the same for many others here.
Presumably any money transfer card that allows you to transfer an overdraft would work for Flex?
You can take a money transfer from a credit card, have it paid into your bank and then pay Monzo flex off that way. Nothing stopping anyone doing that.
You can also use your Monzo overdraft to pay it off, though in majority of cases it’s probably less viable to do it that way as overdrafts are far more expensive for the majority in comparison.
As it stands, it’s not possible to balance transfer. whether it comes in the future I have zero clue.
Your scenario could happen at any time with any form of borrowing in the grand scheme of things.