A balance transfer is the transfer of (part of) the balance

Balance (accounting)

In banking and accountancy, the outstanding balance is the amount of money owed, , that remains in a deposit account at a given date, after all past remittances, payments and withdrawal have been accounted for. It can be positive or negative ....

 (either money or credit) in an account to another account, often held at another institution

Institution

An institution is any structure or mechanism of social order and cooperation governing the behavior of a set of individuals within a given human community...

.

Types of balance transfers

There can be transfers between two similar types of accounts or different ones. These include:

• Credit card
  Credit card
  A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
  
   accounts
• Bank savings accounts
• Bank checking accounts
• Trading accounts at financial institution
  Financial institution
  In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the most important financial service provided by financial institutions is acting as financial intermediaries...
  
  s

Transfers are sometimes facilitated by companies trying to recruit new consumer

Consumer

Consumer is a broad label for any individuals or households that use goods generated within the economy. The concept of a consumer occurs in different contexts, so that the usage and significance of the term may vary.-Economics and marketing:...

s. Sometimes transfers are accompanied by transaction cost

Transaction cost

In economics and related disciplines, a transaction cost is a cost incurred in making an economic exchange . For example, most people, when buying or selling a stock, must pay a commission to their broker; that commission is a transaction cost of doing the stock deal...

s paid by the consumer.