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Credit Card Return Money

edited 30 November -1 at 1:00AM in Credit Cards
3 replies 536 views
Tubthumper85Tubthumper85 Forumite
2 posts
edited 30 November -1 at 1:00AM in Credit Cards
Morning guys

I was a bit of a pleb and accidentally payed "The Post Office" Credit card off. Gave them £900 instead of the £200 I planned. They were happy to return it. But 10-15 days? What a joke? Its my money, understandably my mistake. Is this punishment that they can make interest off my money while I dont have it?!

I have never heard of such a long period to return money on a CC

Replies

  • zx81zx81 Forumite
    32K posts
    Tenth Anniversary 10,000 Posts Photogenic Name Dropper
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    Is this punishment that they can make interest off my money while I dont have it?!

    No, clearly not.

    It's not uncommon as it's a manual process and they may want to run some money laundering checks.
  • eskbankereskbanker Forumite
    18.1K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    Its my money
    It isn't really though - you'd effectively borrowed it (in the form of an equivalent sum) from them in the first place, so even if paying it back was a mistake, the money arguably was (and is) more theirs than yours....

    Some card companies would have insisted on treating it as a cash withdrawal to 'return' the money to you, with consequent charges applied, so you're not doing too badly!
  • krisdoreykrisdorey Forumite
    3.4K posts
    Is this punishment that they can make interest off my money while I dont have it?!
    That's 3p interest, not sure theyre too bothered by that...
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