Missing funds from balance transfer

I initated a balance transfer from my Cahoot credit card to another credit card due to favourable rates for the sum of £2'500 on 31 August 2023 and the balance was taken immediately, two weeks later I noticed that the funds had not been transfered in to the alternative account. I chased this up contacting Cahoot and they confirmed that the funds had been transfered. It then took me a two week period of chasing Cahoot and  New Wave Capital my alternate card provider to try and chase the money. Cahoot confirmed that the money had gone to New Wave Capital but they said they did not accept balance transfers. On 2nd October Cahoot sent a best endevours claim to claim the money back saying it would take 20 working days to arrive back in to my account. I have checked the account today but the money has not arrived. I have called Cahoot and they have said they recived a rejection notice yesterday Monday 30 October I have been advised to contact New Wave Capital to request the money back, which I have done and am waiting a call back. My question is what course of action can I take if Capital Wave refuse? surely if the money was not accepted in to the Capital Wave account it should have bounced back to the original Cahoot account. I have now had to wait 2 months and still chasing the money, the money was confirmed to go to New Wave Capital by Cahoot and just wondering what course of action I can take now or if there is a governing body I can engage to get the money back? 

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