How do I get my positive balance

decdec

How do I get halifax One to give me my positive balance (about £2500), they say they can`t do it and will have to return it to it`s original source.

mattogier

How did it get there in the first place?

Can't you just balance trans it to your account?

decdec

By mistake

YorkshireBoy

decdec wrote: »

By mistake

A likely story.

Halifax prohibit the creation of a positive balance in their cards' T&C's (condition 7.6*).

It's an anti-money laundering measure, but also serves as an anti-stoozing measure.

To be honest, I'm surprised they haven't blocked your account whilst they investigate the issue as has been reported by others on the board.



* 7.6 You must not make payments or transfer funds from another credit or store card to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money has been sent.

Iamthesmartestmanalive

You cannot do this, it will be returned to source

Anyone who has genuinely done this by "accident" wont have a problem with that

As said its for AML and its because people continually use "accidents" to abuse credit facilities, steal and launder money

As said you can also find the money and account frozen for periods of time until its proven everything is genuine and in place

What sort of "accident" let you overpay 2500

Blacksheep1979

YorkshireBoy wrote: »

* 7.6 You must not make payments or transfer funds from another credit or store card to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money has been sent.

Doesn't say anything about funds being added from current accounts, cash etc though does it?

YorkshireBoy

Blacksheep1979 wrote: »

Doesn't say anything about funds being added from current accounts, cash etc though does it?

Depends if you insert your own comma's (or if HBoS forgot to do so)...

* 7.6 You must not make payments, or transfer funds from another credit or store card, to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money has been sent.

I've seen it posted before that one of the reasons they don't like positive balances is that the customers money is not insured. Additionally, section 75 probably wouldn't apply if you spent from a positive balance because it's not, 'technically', credit.


EDIT: Just to add that a recent poster created a positive balance on their Halifax card prior to going on holiday (to give them greater spending power as their limit wasn't high enough). The Halifax blocked their card, which caused major problems as they were in the USA at the time.

Milarky

It may be necessary to pay twice if you want to guarantee that the full balance will be paid by the due date thus avoiding interest. (e.g Using a BT to pay off the card) I've got this possibility with my Capital One - because the BT is on its way, but if it doesn't arrive Monday I can't be sure it will by Thursday whilst still being able (Tuesday) to send own payment.

Of course if the own payment gets there on Thursday it is 99.9% certain it will be after the BT. Capital One terms state a positive balance may (that word again!) be returned - in which case i) the extra payment would be innocent and ii) the re-credit would be to my current account as the source of the later payment. [Better option than paying 1.24% per month]

NewbieMoneySaver**

Hello all,

I have been put in the same situation without the £2500. I BT but it never went through quick enough and then when it did the DD went out aswell. now they owe me money. only about £30 though.

What do I do because the original source is the DD of my bank.

Cheers

dealer_wins

My GF currently has the same problem of being "in credit" on her Skycard (Barclays issued).

She won loads on Skybet and they will only pay it to the Skycard. Skycard say they have to return it to Skybet and neither would budge.

A formal request to close the credit card was the only option and they have confirmed they are doing that and sending a cheque within 28 days.

Their loss (both Skycard and Skybet) as she is a (very) good customer of both.