Balance Transfer Overpayment

Dthom70

Hi,
Firstly, apologies if this post is in the wrong place - I’m struggling to identify where this should be posted.

I recently settled a credit card i had with Halifax for £3000, by doing a balance transfer to Barclays.
I accidentally transferred my credit limit and not what I had actually spent on the credit card.
I’m now in over £200.00 credit.

Although this isn’t a lot, Halifax has advised that this cannot be refunded due to it being a balance transfer and only other option is to ask Barclays for a recall and apply for the transfer again, which id prefer not to do as seems rather disruptive and inconvenient.

Any advice was be appreciated

[Deleted User]

Just spend it.

msn

Dthom70 wrote: »

Hi,
Firstly, apologies if this post is in the wrong place - I’m struggling to identify where this should be posted.

I recently settled a credit card i had with Halifax for £3000, by doing a balance transfer to Barclays.
I accidentally transferred my credit limit and not what I had actually spent on the credit card.
I’m now in over £200.00 credit.

Although this isn’t a lot, Halifax has advised that this cannot be refunded due to it being a balance transfer and only other option is to ask Barclays for a recall and apply for the transfer again, which id prefer not to do as seems rather disruptive and inconvenient.

Any advice was be appreciated

Buy something and return it :rotfl:

born_again

Dthom70 wrote: »

H
I accidentally transferred my credit limit and not what I had actually spent on the credit card.
I’m now in over £200.00 credit.

Although this isn’t a lot, Halifax has advised that this cannot be refunded due to it being a balance transfer and only other option is to ask Barclays for a recall and apply for the transfer again, which id prefer not to do as seems rather disruptive and inconvenient.

Any advice was be appreciated

Either the above 2 answers or you have to do as Halifax have asked.

Reason they won't refund you is you are in effect getting a cash transfer @ balance transfer rate.

But just how did you manage to overpay?

Dthom70

Thanks. I accidentally transferred credit limit and not actual spend.

Ben8282

Best thing is simply to spend it on your budgeted expenditure, petrol, shopping, travel to work costs etc.

Robisere

Ben8282 wrote: »

Best thing is simply to spend it on your budgeted expenditure, petrol, shopping, travel to work costs etc.

^^^^^ Best advice.

chattychappy

born_again wrote: »

Reason they won't refund you is you are in effect getting a cash transfer @ balance transfer rate.

Disagree - that would be an issue for Barclays rather than Halifax.

But I can see they might not want to facilitate "deposit taking". They are not supposed to allow customers to run a positive balance and if they did open this loophole, then they would have compliance issues.

They might also be concerned about fraud.