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Positive credit card money transfer to current account

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andrea1968_2andrea1968_2 Forumite
181 posts
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Hello. I'm hoping you will be able to help me more than the Halifax website/app and staff have.
Following a refund from Expedia I'm almost £1000 in credit on my Halifax mastercard.
I went on to do a money transfer into my current account and there were 2 options -
Pay a fee roughly £38 and no interest or pay interest and no fee.
The £38 should be credited after 28 days by Halifax.
I spoke to an advisor and asked if the fee came on this months statement should I not pay it and he said pay it and then we will reimburse you.... Will I not just be in credit again at that point for £38.
He tried to put me through to someone and after 20 minutes I was cut off. 
I've looked to see if I could change the date of my statement online but couldn't find anything.
What would anyone advise, I literally use my card and pay it off immediately even before the statement is due after getting in debt years ago.
Thanks

2013 - Finally got the house we' ve worked so hard to get......now it's a life of diy and no money....couldn't be happier 😊
2020 - mortgage free target set 8 years and counting 🎯
Even the longest walks start with one small step....get your boots on.
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Replies

  • TadleyBaggieTadleyBaggie Forumite
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    You shouldn't be doing a money transfer and paying a fee (reimbursed or not), money transfer is when you wish to incur a debt on the card, hence the option to pay no interest but a fee or interest but no fee. In your case you just want your money back and the card provider should be doing that for free.
  • MallyGirlMallyGirl Forumite, Board Guide
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    I would not do a money transfer. You need to phone them and ask for the postive balance to be transferred to your bank with no fee attached. This will take longer than doing a BT though.
    I'm a Board Guide on the Debt-free Wannabe, Loans & Credit Cards boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to [email protected]
    Any views are mine and not the official line of MoneySavingExpert.com.
  • zx81zx81 Forumite
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    It would have been much easier to just ask them to send you the credit for no fee or interest.

    But if you've already chosen the paid for route, just spend it, wait for the statement and then settle the balance in full - which would be the better approach on a monthly basis in any case.
  • andrea1968_2andrea1968_2 Forumite
    181 posts
    Tenth Anniversary 100 Posts Combo Breaker
    Thanks for your speedy replies. 
    I'll phone them again and ask them to do the transfer.....although not today I don't think my blood pressure will fair well. 
    Thanks again 

    2013 - Finally got the house we' ve worked so hard to get......now it's a life of diy and no money....couldn't be happier 😊
    2020 - mortgage free target set 8 years and counting 🎯
    Even the longest walks start with one small step....get your boots on.
  • FingerbobsFingerbobs Forumite
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    I've seen a few posts from people who have tried to get their credit balance refunded by executing a Money Transfer, then came here for advice rather than pay the fee. It saddens me to think that, for each person who does that, there are probably hundreds of others who just think "oh, there's a fee" and go through with the Money Transfer, paying a totally unnecessary fee.
  • edited 30 May at 8:26PM
    AspirationAspiration Forumite
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    edited 30 May at 8:26PM
    Evening, I had the same with Barclaycard after having some tickets refunded back to it. I went to their online chat and asked for it to be reimbursed to myself either by way of a cheque or a BAC’s payment to my account. They were very good, sent them my details and they actioned it within a few hours and the money was in my account within 72 hours. Hopefully Halifax offer something similar. 
    Thanks,
    Aspiration 
    Barclaycard - £2500 now £0
    Santander - £2850 now £3960
    MBNA - £18,000 Now £6,300
    Loan £25,000 now £15,900 NW loan £22k Now £19,820, Shawbrook £15,000 now £13k.
    W - MBNA £15,500 now £15,465 Lloyds £8800Now £8750
    Barclaycard - £0. CC
    April 2020 £92,250 +£10k = £102,250
    July 2020 - £81,976
  • DuckyduckDuckyduck Forumite
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    Take the interest and no fee option.  If you only transfer the value you are in credit by then there is no interest due...

    for everyone saying not not to request a money transfer and instead ask Halifax to return the balance - Halifax’s Covid page directs those with a credit balance to use the money transfer option to transfer to a current account, presumably to reduce to call volumes to their call centre. 
    Save £12k in 2019 #36
  • edited 1 June at 10:26AM
    ratechaserratechaser Forumite
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    edited 1 June at 10:26AM
    Duckyduck said:
    Take the interest and no fee option.  If you only transfer the value you are in credit by then there is no interest due...

    for everyone saying not not to request a money transfer and instead ask Halifax to return the balance - Halifax’s Covid page directs those with a credit balance to use the money transfer option to transfer to a current account, presumably to reduce to call volumes to their call centre. 
    Yes but it then goes on to say that any money transfer fees incurred as a result of reclaiming a positive balance will be refunded within 28 days. So a bit of a clunky solution, but as you say, an alternative to hanging on the phone to them...
  • lisawinslisawins Forumite
    2 posts
    First Post
    MoneySaving Newbie
    I am having a nightmare with Asda creation I have requested my money over the past three weeks and they are still not refunding me. They said they had to prove it was my account before transfer took place I have sent three emails showing my bank account statements to them with all my details and proof I pay the bill and still no money. It’s £800 from a refund of plane tickets and what’s worse is this account is being cancelled in a months time and I have a further £2500 coming back. This will be refunded by B-A when the card is officially closed and no more so I am most concerned as to where this money will end up!
  • zx81zx81 Forumite
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    It'll end up in back in your account.
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