MBNA Card, is it possible to ask to transfer in Credit balance to a current A/C ?

adindas wrote: »

Did you "do a money transfer"? In this case they might consider it as money transfer and you might get charged for interest/fee, eventhough this is your money.

When you call MBNA to make your request of a 'credit balance refund' they read you a script.


On that script they say because it's your money they're bound by rules to return it and they don't charge a fee.


But you do need to make sure you don't create a negative balance (of even a small amount) due to purchases pending or a verification charge (as some BT card providers do before releasing the BT funds), as you will be charged the fee in those circumstances.

They will refund it someday anyway as it is against theit T&C.

No they won't...and don't. They work within the PSRs, which is next business day. Refund requests made on a weekend arrive the following Tuesday, because they're deemed to have been made on the Monday.

But the risk here is that they will trasnfer it back to your original CC.

There's no such risk with MBNA.

Also if it is "a credit balance refund (not money trasnfer)" you could let me know the whther the amount is a few grands or just a small amounts, thanks

In my case, "a few grands"...very nearly 5 figures...on all of them.

I did one for £1900 last month and there is no interest or fee or anything on last months statement.
It just says
20.03.15 faster payment £1900 - that's the money loading onto the card
24.03.15 money transfer £1900 - that's the money transferring to my current account

The balance on my MBNA is zero

mozzy10 wrote: »

Why is it risky? I haven't got anything else on the card other than the BT

Neither did I on one of mine, until the BT card provider put a pending transaction on the card to verify the account. If I hadn't seen it I'd have gone negative, and paid a 2% fee on the entire funds transferred.

But there could be any number of reasons, for example, and in addition to the aforementioned pending transaction, a CPA that had been forgotten or a delayed purchase transaction.

My warning wasn't just for you, it was for anyone else considering it.

YorkshireBoy wrote: »

Neither did I on one of mine, until the BT card provider put a pending transaction on the card to verify the account.

Sorry, could you explain the account verification bit?

faddy wrote: »

Martin warns that cash advances can play havoc with your credit rating. Does the same risk attach to money transfers?

No, a money transfer will just show as a promotional rate under the section of your credit files.