MINT froze my account that was £8000 in credit

999mph

I made the mistake of transferring funds from another CC to the wrong one. An £8000 mistake that MINT welcomingly embraced by putting my account on hold. :eek: Is this legal?

When I contacted them today they were saying it was put on hold for a number of weeks now due the large sum of money that was received on the account and due to it being in Credit. As I am going through a very disturbed stage in my life right now now, I hadn’t done the balance transfer correctly nor have I responded to them in a timely manner.

They are saying that a Credit Card account cannot be left in Credit (or cannot reflect a positive balance rather). They justified this explanation by saying that these measures are in place to prevent money laundering. I was asked to call back on Monday as the Collections Dept was closed at the time I called.

Fair enough policy just as long as they don't hog on to my funds after I produce the documents /jump through the hoops they ask me to.

:money:

paulinespens

Something the card company would get suspicious about. As long as the funds have cleared and its all legal you should be ok.

People have been known to put accounts into credit and spend the money before it had cleared such as a cheque. They need time to trace the money has come from a legal source.

Yes its legal and card company as every right to do this especially with money laundering laws.

It will get sorted.

ravenk

I would ask for interest on your money. Report them to the FSA if they stall giving you access to your money. Nice that they instantly think that anyone in credit is dishonest. What a way to treat your customers !

jonesMUFCforever

ravenk wrote: »

I would ask for interest on your money. Report them to the FSA if they stall giving you access to your money. Nice that they instantly think that anyone in credit is dishonest. What a way to treat your customers ![/QUOTE

Mint don't pay credit interest on the money - it is not their error!
More and more credit cards are forbidding cards to go intro credit (especially as a result of a balance transfer).

The FSA will not become involved as Mint have a legal duty of care to make checks about the legality of where the money has come from.

The best OP can hope for is a reversal from Mint back to the originating card without a balance transfer fee.

999mph

ejones999 wrote: »

ravenk wrote: »

The best OP can hope for is a reversal from Mint back to the originating card without a balance transfer fee.

So if for whatever the reason MINT try to give me the full package tour, I can cut it short by just asking them to reverse the funds back to its origin? Or should I do this through the Credit Card company that it was sent from? It's been weeks now, so the funds have cleared by a good mile. Has anyone actually done this before (reversing the funds I mean)?

And has anyone here been in the same situation as me?

ravenk

I would imagine the credit cards Terms and Conditions cover them for everything. I might read them one day. i will put it on the list of things to do in life...just under spend the weekend reading all the Teletext pages ....learning PI to 100 decimal places ....

They have been sat on your money for weeks !!!!
Bet mint are laughing all the way to the next billion profit with this one. Grab your money and then hide behind some paragraph in the T's and C's and keep hold of your money.

Good luck in getting your money back.
Banks dont allow for human errors....unless of course they make it and bring an entire banking network down.

jonesMUFCforever

999mph wrote: »

ejones999 wrote: »

So if for whatever the reason MINT try to give me the full package tour, I can cut it short by just asking them to reverse the funds back to its origin? Or should I do this through the Credit Card company that it was sent from? It's been weeks now, so the funds have cleared by a good mile. Has anyone actually done this before (reversing the funds I mean)?

And has anyone here been in the same situation as me?

Yes you can. The only problem is that they might say that as this is another balance transfer they might attempt to charge you another fee.

MABLE

999mph wrote: »

I made the mistake of transferring funds from another CC to the wrong one. An £8000 mistake that MINT welcomingly embraced by putting my account on hold. :eek: Is this legal?

When I contacted them today they were saying it was put on hold for a number of weeks now due the large sum of money that was received on the account and due to it being in Credit. As I am going through a very disturbed stage in my life right now now, I hadn’t done the balance transfer correctly nor have I responded to them in a timely manner.

They are saying that a Credit Card account cannot be left in Credit (or cannot reflect a positive balance rather). They justified this explanation by saying that these measures are in place to prevent money laundering. I was asked to call back on Monday as the Collections Dept was closed at the time I called.

Fair enough policy just as long as they don't hog on to my funds after I produce the documents /jump through the hoops they ask me to.

:money:

IMHO I dont think you made a mistake. I think what you were trying to be clever and you thought this was a good way of getting hold of the £8,000.
I know if I did a balance transfer for this amount I would make dam sure I quoted to correct card details.
Also I have done the exactly the samething and then had a huge credit balance on my Cahoot card. I phoned them up and explained this was an error and asked them to to transfer to my Cahoot savings account. They agreed to do this.

ravenk

The more I read these forum ...the more I start to think that the people who demonstrate at the G8 conferences are just not a bunch of thugs ...

mjr

When you speak to Mint on Monday, just explain the transfer to that card was a mistake and ask them to send the money back where it came from. That should get things sorted from the Mint point of view. Once that money is safely back, I'd the phone the card company you did the transfer from and explain the situation, show them it's been reversed and ask if they'd mind refunding all or part of the balance transfer fee or letting you have a fee-free transfer to the card you actually meant to pay off.

ravenk

If you get your money back for the transfer ...Ha ha ...no chance.
These guys now have your money. How do you think they manage to make billions in profit each year ?
If you get your money back ...well I will eat my hat or worse renew my Mint card !