What is a Balance Transfer fee and how is it calculated?
A Balance Transfer fee can be applicable on some promotional offers. This fee is calculated as a percentage of the total amount being transferred and is added to the Balance Transfer amount.
For example, Balance Transfer amount of $10,000 with a 2% Balance Transfer Fee, results in the outstanding balance of your credit card to increase by $10,200 of which $200 is the Balance Transfer Fee.
At the end of the balance transfer period, the interest rate on any outstanding transferred balance and balance transfer fee will revert to the variable Annual Percentage Rate for Cash Advances.