Credit card cheques - can I pay them into my bank acc

NickX

leicsmarkyr wrote: »

Bit confused with your comment, SarahNeedle1872 said that they where cheques.

Hopefully Moggles has provided clarification in posts 6 and 9.

There can be exceptions that will be detailed in the specific Terms and Conditions. If in doubt contact the Card provider.

leicsmarkyr

NickX wrote: »

Hopefully Moggles has provided clarification in posts 6 and 9.

There can be exceptions that will be detailed in the specific Terms and Conditions. If in doubt contact the Card provider.

Fair enough, of all the cheuqes I have received never seen this mentioned that all

speedbird1973

I've paid Barclaycard cheques into my current account on a number of occassions - I get the promotional rate every time

ICan'tStandIt

Moggles wrote: »

Mint periodically issues credit card cheques, which can be paid directly into your current account. You're charged at the balance transfer rate, in this case 0%.

Caution: other lenders (eg. Barclaycard, Halifax) issue credit card cheques from time to time. These can be used to settle bills/pay off other credit cards, but if you paid one into your bank account, you'd be charged for a cash withdrawal - not recommended, not unless you have money to burn. :eek:

I've never heard of this myself and have paid BT cheques issued by the Halifax into my bank account and still got the promotional rate.

I've also had ordinary statement cheques issued at the standard cash rate and have treated them with the contempt that they deserve ie. they've been destroyed.

I don't know if the bank's system is that intelligent, that it can tell the sort of account a cheque has been paid into.

Just make sure that you do get the correct rate applied as the Halifax recently applied a BT promotional cheque at the standard rate !! I had a right battle to get them to admit that they had made a mistake. They denied ever sending me the promotional cheque in the first place.

Luckily I had kept the cheque stub, but if I hadn't I think that they would had stuck to their guns and kept saying that a promotional cheque had never been issued.

chartreuse_2

ICan'tStandIt wrote: »

Just make sure that you do get the correct rate applied as the Halifax recently applied a BT promotional cheque at the standard rate !! I had a right battle to get them to admit that they had made a mistake. They denied ever sending me the promotional cheque in the first place.

Luckily I had kept the cheque stub, but if I hadn't I think that they would had stuck to their guns and kept saying that a promotional cheque had never been issued.

Which, IMHO, would have been fraud. Of course, proof is the trick, which is probably why they backed down in the face of your evidence. It's a bit depressing that the banks never seem to go to jail for this kind of crime, though.

Bismarck

chartreuse wrote: »

Which, IMHO, would have been fraud. Of course, proof is the trick, which is probably why they backed down in the face of your evidence. It's a bit depressing that the banks never seem to go to jail for this kind of crime, though.

imagine that!

ICan'tStandIt

chartreuse wrote: »

Which, IMHO, would have been fraud. Of course, proof is the trick, which is probably why they backed down in the face of your evidence. It's a bit depressing that the banks never seem to go to jail for this kind of crime, though.

To be fair, I don't think it was intentional, just an admin error, but I really had to battle to get the Halifax to admit that they were wrong and I was right.

I spoke to what felt like every rep in their Edinburgh call centre, but not one person thought it was possible that they had made the mistake.

"You must have used an out of date promotional cheque!" was all they kept saying. They were all nasty pieces of work and even when I spoke to a so-called manager I got nowhere. "The Halifax don't make mistakes like this!" was all she would say.

I ended up making a formal complaint against the manager and when it was all sorted out and the interest rate had been corrected, I asked if that manager would do me the courtesy of calling me back and admitting that she was wrong and I was right.

Not a chance ! They gave me £30 to get rid of me.

They said that it wasn't possible to get the manager - who I will call Jackie - to call me back as they weren't even sure which of their three call centres she works in.

It was a nightmare from start to finish and had I not been able to find the cheque stub, I probably would have had to take the hit with the interest rate and live with it.

chartreuse_2

ICan'tStandIt wrote: »

To be fair, I don't think it was intentional, just an admin error, but I really had to battle to get the Halifax to admit that they were wrong and I was right.

Yes, but here's the thing. If you made an admin error and the Halifax had you prosecuted for fraud, do you think it's likely that you'd get let off?

Also, if banks are going around making all these admin errors and not realising, how can we trust anything they say?

OK,so it was two things.

ICan'tStandIt

chartreuse wrote: »

Yes, but here's the thing. If you made an admin error and the Halifax had you prosecuted for fraud, do you think it's likely that you'd get let off?

Also, if banks are going around making all these admin errors and not realising, how can we trust anything they say?

OK,so it was two things.

Well, if it hasn't been for them breaking down the interest amounts and saying what was being charged at what rate on the statement, I may not have even noticed.

I had managed to get a decent rate of 9.9% from them for the balance, so nothing was on the standard rate. It was only seeing them starting to apply interest at the standard rate that got my attention. If they had just had one figure for all the interest combined, I may not have noticed as the amount I used the cheque for was quite small.

At least they didn't try to hide their error, but I agree it's hard to trust them after this.

Having spent my working life to date working for some of these places, I can say for certain you need to keep your eye on them. Get everything in writing, don't take anything for granted and keep records of your dealings with them.

They'll send you down the river in a heartbeat.