Visa credit cards can be used for various purposes and one of them is the money transfer. Money can be transferred from one credit card to another, from the credit card to the prepaid card. This has been facilitated in order to make the transactions as simple as possible and very fast. Visa money transfer that is done from one Visa to another is very advantageous because it involves a low interest rate, thus one is able to save a certain portion of money. In order to transfer credit from one Visa to another, there are certain steps that have to be followed. This will make sure that the right thing is undertaken.
Steps on how the Visa money transfer works
The first step demands that one has to be fully informed on whether the Visa money transfer that he/she chooses will ensure that money is saved. The information can be gathered from both the old and new cards and this will be based on the APR for the old and new credit card, toll free customer service number, annual fees charged and many more. This has to be followed with the sending of the minimum payment to the old credit card in order to facilitate the transfer of the credit. The repercussions that come in once one fails to send the minimum payment to the old credit card is that one will be forced to pay late fees provided that the Visa money transfer is not complete.
Next, one has to sign up for a new credit card. This can be done online, over the phone, by email or in person visiting the local bank. A balance transfer form has to be filled with the new card. In order to ensure the transfer takes place, one has to continue making the minimum payments to the old credit card. Once the Visa money transfer is successful, the credit card company has to be notified. The moment a zero balance statement comes up, then this is a clear indication that the transfer to new credit card is successful.
Transferring money from the credit card to a prepaid card
In order to transfer money from the credit card to the prepaid card, one has to first contact the bank for further details. The information that one has to get from the bank entail the fees that are to be charged for the transfer. The financial institution that one decides to work with should be able to carry out this service and at the same time meets the needs of the client.
If one decides to do the transactions online, then the website to be used should be in a position of ensuring a secure connection. It is always adVisable to go through the terms and conditions offered by the bank before completing the transaction.
Final details on how to transfer money from a credit card to a prepaid card
The last thing that needs to be handled with a lot of caution is the checking of the prepaid account balance. This has to be done before one can actually use the card. One also needs to be aware of the delay that may occur between the fund deposit and availability of funds.