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Can they decide where to refund a balance

windyruss
windyruss Posts: 2 Newbie
in Reclaim bank & credit card charges
A while ago I transferred at 0% £1000 over to another credit card, there is a standing order for £100 which is paying off this debt, it will finish well before the interest kicks in. I've phoned the card company and said please transfer the funds into my bank account which they have declineed to do on the grounds they can only return the money to the original card provider!!!

As I paid 3% to transfer I can't pretend to be happy. question is....

Is this legal?

Comments

  • natweststaffmember
    natweststaffmember Posts: 12,063 Forumite
    windyruss wrote: »
    A while ago I transferred at 0% £1000 over to another credit card, there is a standing order for £100 which is paying off this debt, it will finish well before the interest kicks in. I've phoned the card company and said please transfer the funds into my bank account which they have declineed to do on the grounds they can only return the money to the original card provider!!!

    As I paid 3% to transfer I can't pretend to be happy. question is....

    Is this legal?
    I think you might want to ask this in either (a) the credit card section or (b) budgetting and current accounts section. I am not sure what you are asking so cannot answer the question.
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
  • windyruss
    windyruss Posts: 2 Newbie
    My question is can I force the current credit card company to refund a positive balance of £1000 to my bank account rather than to the original credit card from which it was transferred?
  • natweststaffmember
    natweststaffmember Posts: 12,063 Forumite
    windyruss wrote: »
    My question is can I force the current credit card company to refund a positive balance of £1000 to my bank account rather than to the original credit card from which it was transferred?
    If the account is in credit ie credit card shuffle....I did that, then you can ask them to send you a cheque to take the account back to £0.00. Is that what you mean?
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
  • oscar52
    oscar52 Posts: 2,272 Forumite
    windyruss wrote: »
    My question is can I force the current credit card company to refund a positive balance of £1000 to my bank account rather than to the original credit card from which it was transferred?

    No, it has to be returned to the original source - due to Anti Money Laundering rules.
    No Longer works for MBNA as of August 2010 - redundancy money will be nice though.

    Proud to be a Friend of Niddy.
    no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date
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