Charged for moving a credit balance off a card!!

bert&ernie

ICan'tStandIt wrote: »

It is down to the banks to carry out proper checks and to be more thorough - which they haven't been for years and probably still aren't now !

I can appreciate that it is very annoying to witness and know it is going on, but there is very little you can personally do.

An anonymous letter outlining what you know is probably the only thing you could try.

Unfortunately, people like those you refer to always seem to come up smelling of roses !

This is becoming a little ridiculous. No fraud has taken place and there is nothing to suggest that it will other than freak01's opinion.

To accuse someone of intending to commit a fraud, without so much as shred of evidence is not only defamatory it could probably be viewed as harassment. The very fact that you are advocating an anonymous letter suggests that you know this to be the case.

The banks have more than enough resources at their disposal to protect their own interests and Official Receivers are not idiots. I think nosey, curtain twitching busybodies should just mind their own business and stop worrying about what others may or may not be up to.

Coolcarbon

bert&ernie wrote: »

This is becoming a little ridiculous.

Agreed B&E....:T




I've already posted the result of my conversation with the bank this morning....

If I were able, I'd delete this thread now but it would appear even as the OP, I cannot....

ralabaf

They can borrow what they like and if they're making the payments they're complying with their contractual obligations.

If they file for bankrupcy thay will find their creditors are very adept at investigating anything suspicious and if they uncover anything dodgy the police will be called in to undertake a criminal investigation. They could go to jail and so could the wife for aiding/abetting/conspracy or whatever.

I like a flutter once in a while and I'm willing to bet a tenner that the credit card companies are brighter than they are.

abinanthanb

Moggles wrote: »

Personally, I wouldn't risk putting a credit card in credit. Credit cards - other than Egg Money - are not designed to carry a positive balance. Modest amounts that arise temporarily (due to a refund, for instance) are okay, but the Ts & Cs of some cards (e.g. First Direct) specifically prohibit payments that deliberately place the account in credit.

The outcome certainly depends on the lender involved and their interpretation of anti-money laundering procedures. If you do this with some credit cards, their fraud dept will put a stop on the card and you won't be able to use the card at all.

From feedback here, these issues are not resolved quickly, so it pays to keep within your Ts & Cs. Additionally, we're told section 75 wouldn't apply if you spent from a positive balance because technically it's not credit. Also, if your card were stolen, you wouldn't be covered for fraudulent transactions.

It happened to me exactly as described above! Had a balance around 1600 in my citicard (EGG money) and did a BT from Barclays (0% for 12 months). Stupid Barclays did transfer 1600 twice and charged twice. Citicard blocked my account and diverted my call to Anti-money laundering dept. It had become a hassle as I was asked to send them the statement of Barclays that shows the two transfers.

Meanwhile barclays agreed to waiver the BT fee for the second 1600 provided I pay them back. Explained to them that I need to send the statement to Citi and then only I will get the money back. Barclays agreed and went on charging BT fee only for first 1600. Got the statement and sent it to Citi; They promptly sent a cheque for 1600. Put it in my current account that pays 3.7% and Barclays forgot about it. 50 pounds profit for few free calls and one first class post! :T

Bottomline is, too much of positive balance in a creditcard creates unnecessary problems.

abinanthanb

freak01 wrote: »

Hello

I'm sorry guys if this is slightly off subject. I'm new to the forum and couldn't really find the right thread for my question.

I know someone (quite a few people actually) who is deliberately "working" the credit system in this country. They have no real assets to their name, i.e they live in a council house. This particular person in question actually has their own business (LTD company) and for the past couple of years has managed to get numerous credit cards to their name as well as business credit cards and business loans.

The total credit might run into hundreds of thousands of pounds, they have already bought cars worth £80000 using this credit. The objective is to try and purchase or withdraw as much of this credit available to them and then simply claim bankruptcy. They are married and anything purchased is slowly being transferred to their partners name. They are able to hoodwink the banks and credit card companies initially by paying off monthly minimum payments.......which of course the banks love as they are recieving interest and more often than not results in them increasing the credit limits.

My question is how is it possible to report this "future" fraud, since it hasn't actually taken place yet, technically. How is it possible to inform the various authorities so that they can investigate or at least suspend credits to this person. There are various procedures for reporting benefit fraud or tax fraud etc.....but nothing for this sort of credit fraud. At the end of the day we are all paying for it and I would like to know if you guys have any advice for me? Any help appreciated. Thanks.

Sounds like a jealous neighbour or a bitter divorce!!