Balance transfer showing on both CC

ilovelondontown

Just wondering if anyone can advise if I need to take action.- I should point out that I've never done a balance transfer before so I don't really know how this works.

I have 2 credit cards, one clear and one with a balance. I was unhappy with the rate on the card I was paying, so before trying to apply elsewhere for a balance transfer, I wanted to see what I could get for transfering the balance on to the empty card. Got a good deal and was happy so confirm the transfer.

This was yesterday at about 12 noon . I now have the cleared card showing the availiable balance as lower- signifying that the transfer has taken place, but the balance is also still showing on the card with the original balance.

I was told the transfer would be done by "faster transfer" and would be completed in 24 hours -and maybe less, and now I've got the balance on both card, surely if the transfer is showing up on the card I move the balance to the other one should say zero?

I'm sure eventually the zero balance will "Catch up" but I can't help thinking it's sneak banking tactic, and I'm peeved that I have to keep checking back to see if the balance card is now cleared.

Is this standard?

grumbler

ilovelondontown wrote: »

...surely if the transfer is showing up on the card I move the balance to the other one should say zero?

If you make a Faster Payment to your CC it will be shown instantly in your bank account, but will take time to clear on the other side. Check the CC website for the information on how long it takes for a bank transfer payment to clear.

And, BTW, even for the Faster Payment itself the deadline is the end of the next business day.