Balance Transfer Facility Charges by Various Banks on their Credit Cards

Balance Transfer Facility (BTF) is a service provided on credit cards using which you can transfer your outstanding balance from one credit card(s) onto other credit card. This facility is offered by almost all of the banks in Pakistan, where you can easily transfer you outstanding dues on one credit card to another with BTF processing charges. Various banks have different rates for BTF and annual service charges which are explained here.

Here we will share the charges applied by various banks on Balance Transfer facility so that you can compare well and transfer if you find the charges reasonable enough for you. For using balance transfer facility, you are charged with BTF processing fee & Annual Service Charges until you pay those dues in full. The fee is fixed and the service charges are applied on daily basis with Annual service charges on the total amount until the payment is done.

Below is the detail of BTF processing fee and annual service charges by various banks in Pakistan:

BANKAnnual Service Charges on BTFBTF Processing ChargesHBL24%Rs.500/- or 3% of the transferred amount, whichever is higherUBLUp to 28%Rs.500/-Allied Bank20%Rs.500/-MCB22%Rs 450/- or 2.5% of transaction amount whichever is higherStandard CharteredUpton APR of 42%3.5% of the transaction amountBank Alfalah24%Rs. 600/- or 2.5% of transactionamount, whichever is higherSilk Bank27%Up to 20% of the Balance Transfer AmountFaysal Bank2.7% per month(Annual 33%)2% per month of transferamount

Also, some banks also provide easy monthly installments of 3, 6, 9 or 12 months with zero markup with a processing fee according to the plan & balance amount. However, If the bank does not offer easy monthly installments on Balance Transfer Facility, you still can convert your transferred amount but you will be charged with markup according to bank’s schedule of charges.