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OPUS/Progressive Credit ltd - Refuse to pay my credit balance to me?
MoneyMee
Posts: 5 Forumite
Hello all, I've been subscribed to the mail for a while, but never used the forums before.
In a nutshell i'm performing what is termed 'stooging' on this site.
Ive Taken a new Nat-West card last month and overpaid my Post office (bank of Ireland) Credit Card and Opus (Progressive credit) cards, in order to clear the balances on both and utilise additional funds elsewhere.
I've been open honest with all parties (too honest it seems) and told Nat-West exactly what i was doing (when i did it) who were fine, and again yesterday when i called them to ask their advice.
Post office have transferred the 'credit' (not Debit) balance back to the current account i've paid them from for teh last 12/18 months - No Issue.
Because yesterday i was asked by Opus 'Where' the funds have come from, and i replied my Nat west Credit Card, they are refusing to pay me the 'Credit' Balance as it's not my money! They tell me that despite having a legally binding Contract with nat-West, who are happy for me to do 'What the hell i like' with my money according to the chap i spoke with yesterday, OPUS are telling me that they only way i can retrieve the Balance on my account is to Ask Nat_west to take it back! I've told them it's nothing to do with Nat-West and that it's my money, but they see it otherwise and refuse to even contact them- i've said, that it's their issue, and if they have one then it's up to them to sort it out.
The Financial Ombudsman can't advise and only raise a complaint (which i've done), and i've told OPUS that i can afford to wait, which i can, but i believe that they are in the wrong. I'm awaiting confirmation of where in terms and conditions (that they have sent me or made me aware of, during the aggreement) but does anyone know my legal standpoint on this?
I would have thought that if they have a policy that they have 'quoted via phone' so far that they should enforce it, and prevent payments to an account that put a 'credit' card balance into any Credit, whether it's by 3pence or £1300 as it is in my case.
The only reason i actually did this with this most inneficient organisation, is because last month they were unable to calculate a settlement figure (To any future date) and so i even told them i would overpay then and the operative i spoke to saidf that's fine, we'll just pay you any balance by return!
Anyone had any experience of this? Martin if you're reading this would you like an interesting interview?
Any help, advice, or the Chairmans name of Progressive, greatfully recieved.
MoneyMee..
In a nutshell i'm performing what is termed 'stooging' on this site.
Ive Taken a new Nat-West card last month and overpaid my Post office (bank of Ireland) Credit Card and Opus (Progressive credit) cards, in order to clear the balances on both and utilise additional funds elsewhere.
I've been open honest with all parties (too honest it seems) and told Nat-West exactly what i was doing (when i did it) who were fine, and again yesterday when i called them to ask their advice.
Post office have transferred the 'credit' (not Debit) balance back to the current account i've paid them from for teh last 12/18 months - No Issue.
Because yesterday i was asked by Opus 'Where' the funds have come from, and i replied my Nat west Credit Card, they are refusing to pay me the 'Credit' Balance as it's not my money! They tell me that despite having a legally binding Contract with nat-West, who are happy for me to do 'What the hell i like' with my money according to the chap i spoke with yesterday, OPUS are telling me that they only way i can retrieve the Balance on my account is to Ask Nat_west to take it back! I've told them it's nothing to do with Nat-West and that it's my money, but they see it otherwise and refuse to even contact them- i've said, that it's their issue, and if they have one then it's up to them to sort it out.
The Financial Ombudsman can't advise and only raise a complaint (which i've done), and i've told OPUS that i can afford to wait, which i can, but i believe that they are in the wrong. I'm awaiting confirmation of where in terms and conditions (that they have sent me or made me aware of, during the aggreement) but does anyone know my legal standpoint on this?
I would have thought that if they have a policy that they have 'quoted via phone' so far that they should enforce it, and prevent payments to an account that put a 'credit' card balance into any Credit, whether it's by 3pence or £1300 as it is in my case.
The only reason i actually did this with this most inneficient organisation, is because last month they were unable to calculate a settlement figure (To any future date) and so i even told them i would overpay then and the operative i spoke to saidf that's fine, we'll just pay you any balance by return!
Anyone had any experience of this? Martin if you're reading this would you like an interesting interview?
Any help, advice, or the Chairmans name of Progressive, greatfully recieved.
MoneyMee..
0
Comments
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I think you may mean stoozing. Being a stooge is something entirely different.
It's against the terms to put most cards into credit, and Opus are probably the same, so that's the first mistake. I imagine Opus are considering the potential money laundering risk.
I'd say they are in the right.0 -
Apologies - Stoozing! allthough they act like a bunch of clowns so stooging is probably more appropriate!
So, I assume (as i have experienced through my Business Account) they have 'limts' that they might adhere to for the Money Laundering Regulations. I have experience of HSBC calling to check any amount over 2.5k when i've transferred funds to another HSBC Business owner directly (in the interests of efficiency and goodwill to get things done) for goods and services. However, when you are a tax paying, law abiding citizen, whom they have the ability to run credit checks on whilst the account has been open (and which the newly awarded card) has been checked against for the same address for the last 8 years and which the new card issuer has also checked prior to issueing the card!
Can anyone Quantify a point of view with knowledge based on any of the either the money laundering regulations 2007 or FSA guidlines?
If they are probably right, how are people 'Stoozing' cards and where have been doing it wrong for the last 19 years and why is it that Post Office Credit cards can post me a cheque or pay direct to the account i pay the balance from - as they have done? On that basis alone i feel i am probably right - There are 4 parties descibed and only one is playing silly !!!!!!s - It's £1300 not £130K!0 -
121 Veiws and no knowledge? Can anyone assist or advise me?0
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