Balance Transfer Payed but not showing.

JonB1081

Hi there, I recently initiated a Balance Transfer to pay off my HSBC credit card. (Transfered to a BarclayCard Platinum) However though the transfer is now showing on both sides (the HSBC statement says - payment received thankyou for the correct amount.) My balance at HSBC is still showing as not having changed. I rang HSBC and they don't seem to know what is going on. The payment is there but the balance hasn't updated.

Has anyone had this happen? I want to get this Card closed but this is really annoying!

thenudeone

On both my credit cards and my current account (with different banks) I sometimes see very recent transactions that are not included in the "total" shown in the summary, because they update using different sources of information.

It's not very professional of the banks and could lead to customers making incorrect decisions, but it definitely happens.

Have another look tomorrow. The balances will probably have updated correctly.

ironlady2022

What date did yo do the balance transfer, it can take 2-3 working days before it shows. HSBC will not know til it physically hits the account.

JonB1081

mayling03 wrote: »

What date did yo do the balance transfer, it can take 2-3 working days before it shows. HSBC will not know til it physically hits the account.

Its already hit HSBC. The statement shows the payment as recieved. However the balance of the account has not updated. Its rather like when you have a cheque i would guess (the statement shows the payment but you have to wait for a cleared payment)

Any other time i have payed something off the credit card it updates the balance within a couple of hours and then the statement shows the payment a couple of days later.

JonB1081

thenudeone wrote: »

On both my credit cards and my current account (with different banks) I sometimes see very recent transactions that are not included in the "total" shown in the summary, because they update using different sources of information.

It's not very professional of the banks and could lead to customers making incorrect decisions, but it definitely happens.

Have another look tomorrow. The balances will probably have updated correctly.

This sounds like what might of happened. It's kind of scary that on the phone they don't know why my balance has not been updated as the money is showing (and has been since Friday)