Balance transfer problems

mabttp

I recently took advantage of the 0% offered by Virgin and transferred £4k from my Barclaycard Platinum - this has showed up on my Virgin account as going through on 14th, but my Barclaycard balance is still the same. I phoned Barclaycard and was told there were no transactions pending and it could take 7 days or more... in the meantime on paper I now have what appears to be £4k more of borrowing and am still accruing interest on the £4k which it supposed to have been transferred. I don;t understand quite why the money should have appeared on my Virgin card before it had actaully left my Barclaycard and is there any way of my claiming the interest back for the period of transition?

Thanks,
Mark

Moggles_2

I don't understand quite why the money should have appeared on my Virgin card before it had actully left my Barclaycard

You've requested a balance transfer from your Barclaycard to your Virgin account. The funds flow in the opposite direction.

If you call up and ask, both providers will tell you to allow 7-10 working days for a balance transfer. That's the industry standard. In practice, most BTs are processed within 7 days, but there are no guarantees. IME, there's little you can do, once you've started the ball rolling, to chase things up, but Virgin is normally pretty efficient.