Credit put back on credit card

violetrose53

Hi there,
I booked and bus trip holiday on my credit card and paid in full when the bill arrived. The bus company went bust and the bank got my money back and credited it back into my credit card, but when I tried to transfer holiday credit into my current account it's charging me interest to do it. I don't understand it I am leaving my credit card limit in the card I'm just trying to transfer the holiday money, can anyone help. They are charging me £65 interest to transfer my own money which I have already paid back to card card previously.
Thank you

[Deleted User]

It sounds like you're trying to do a money transfer, which is why they're correct to charge you.

Simply ask them to send you the balance 

born_again

You can only transfer back anything that leaves the account in a credit.
If you are in a credit position you need to call them to transfer the funds free of charge. It is not something that can be done online. 

JLRetired

Apologies if this is the same question - I have received a refund to my Tesco Credit Card of £3,000 in respect of cancelled events. It would take me many months to spend it again! Am I entitled to ask for the refund to be transferred to my bank account (At no charge)?

bradders1983

Yes, ring them and ask.

MallyGirl

as long as the refund puts you in credit then you should ring and ask for them to transfer the positive balance to your bank account. Doing it online will be treated as a money transfer and will incur fees (not interest).
If you owed £1000 already, got a £3000 refund then you would only be able to ask for the £2000 positive portion to be transferred to the bank.

redux

JLRetired said:

Apologies if this is the same question - I have received a refund to my Tesco Credit Card of £3,000 in respect of cancelled events. It would take me many months to spend it again! Am I entitled to ask for the refund to be transferred to my bank account (At no charge)?

Yes, and ask them to avoid or waive any fee for money transfer

bradders1983

Its not a money transfer, its a credit balance refund, a distinct difference.

maxximus75

You either ask your credit card provider to transfer the positive balance to your current account or for them to send you a cheque.

You should NOT be asking for a balance transfer!

badger09

I had always understood that a credit card company would only ever return the amount of a credit balance.

However, I have very recently received a holiday refund of over £5k to my Barclaycard Cashback card, which put my account into credit by approx £4600. After secure message correspondence with Barclaycard, they have transferred the whole of the  holiday refund to my current account (not the one from which my credit card bill is paid by DD), returning the debit balance on my card to £400. The transaction was described as Direct Credit.

st999

Nationwide transferred my credit balance to my bank account when I asked them to but took off my statement balance so there was no DD payment this month.