Overpaid credit card - bank doesn't want to transfer back

lockheed

I mistakenly overpaid credit card A with a balance transfer from credit card B. When I contacted bank A to ask them to transfer money back to my account, as I want to close this card, a customer service woman told me they cannot do that and I have to contact bank B to get BACS recall.

I did so but B responded that they can't do anything as the transfer was not fraudulent and is beyond the 3 days where the money is "in the system".

What are my options here? Is it really the case that the only way bank A can credit back money from positive credit balance is NOT to credit it back at all, but instead relay on third party's BACS recall? Should I ask to talk to a supervisor next time I phone them up?
Couple of years back a similar thing happened and another bank had no problems transferring the positive balance to my account.

Stevie_Palimo

You simply request a refund from the over paid card and they have to comply.

[Deleted User]

You may be confusing them if you're telling them you want to cancel the balance transfer. If the card that you arranged the transfer with was cancelling it, they would need to "pull" the money back, and would possibly then credit you with any transfer fee you paid.

Just phone up the card with the positive balance, tell them nothing except that you have a positive balance, and you'd like it back. Of course, any transfer fee you paid will be lost.

grumbler

billbennett wrote: »

You may be confusing them if you're telling them you want to cancel the balance transfer.

You misread the OP who, in fact, wanted to close the account. In this case the CC provider normally has to send a cheque to the customer or make a bank transfer to the current account.

Stevie_Palimo wrote: »

You simply request a refund from the over paid card and they have to comply.

What do you mean by refund? Most CC companies reserve the right to send money back to the source and refuse to process refunds directly to the customer.

A similar recent thread: Transferred too much and now can't transfer back!

Alexd52

Why not buy something for the amount of the positive balance on that card, wait for the statement to show that you don't owe anything and then cancel. (or if you can't find anything for the exact amount, go slightly over and then clear it, and then cancel)

lockheed

grumbler wrote: »

In this case the CC provider normally has to send a cheque to the customer or make a bank transfer to the current account.

grumbler wrote: »

Most CC companies reserve the right to send money back to the source and refuse to process refunds directly to the customer.

Aren't those two statements in contradiction?

Bank A told me I can ask to close the account even when it's in credit and they don't pay it back, because the record stay for 6 months so I will have half a year to organise BACS recall...

grumbler

IMO, no.

They reserve the right, but often refuse to do this even if asked. In this case one can ask to close the account in which case the CC company has no options except either sending the money back or sending a cheque. Typically they do the latter.

Bank A is giving you runaround. Complain and take the case to the FOS if needed.
Or close the account and sue them (via SCC) for the money they owe you.

Candyapple

Just out of interest, what is the name of the credit card company A?

DCFC79

Alexd52 wrote: »

Why not buy something for the amount of the positive balance on that card, wait for the statement to show that you don't owe anything and then cancel. (or if you can't find anything for the exact amount, go slightly over and then clear it, and then cancel)

Easier to do this,

lisyloo

Unless it's thousands then it's easiest a to just spend it.

lockheed

It is around £5400.