Morgan Stanley refusing to payback credit balance

marnstars

Hello. I had a Morgan Stanley Credit Card and closed it some 3 months ago. I had prior to that made a balance transfer from another card by mistake to this card before I closed it. Since then, I ahve asked them to pay back the £4800 - they have today come back and said it must be paid back to the credit card that the original balance transfer came from. Is this legal.

They have told me it's an Halifax card (I don't have an Halifax card) and now they say it could be a card that is underwritten by the Halifax. They know the number, but won't tell me which card it was and I'm at a loss to which card I trasnfered it from! HELP!

Can they hold £4800 in my name and against my will? In the meantime, credit card balances that could do with this injection remain on premium interest.

They say they are only acting to the terms of the banking code - suits them, they have my £4800!

Any advice?

jonesMUFCforever

This is perfectly legal. Some banks/ card companies thinks this minimises the risk of you laundering money in this way.By paying the money back directly from where it came from they will not be liable should anything go wrong.
After all how can they prove that you were the original transferee - all they had to go on was the credit card number?
If they won't give you the full card number then perhaps you could ask just for the last 4 digits and check against statements received. I don't know about you even though I have more than one credit card I would sure as hell know where and when I transferred that sort of amount!
Eric

dag_2

Don't know if this helps - but you're sure you transferred the balance onto another card. I don't understand why you're not able to find out which card you transferred it to yet.

How many credit cards do you have? And how far back do you have access to statements?

Would you be able to get them to return it anyway, and then find out for yourself which account it credits? Or is that not an option?

Hope that helps - keep us informed, thanks.

Tim_L

I had a similar problem with Citibank last month. In the end I told them to close the account and refund the money, and explained that if it was not returned I would sue them. I received a cheque within 5 days.

marnstars

dag wrote:

Don't know if this helps - but you're sure you transferred the balance onto another card. I don't understand why you're not able to find out which card you transferred it to yet.

How many credit cards do you have? And how far back do you have access to statements?

Would you be able to get them to return it anyway, and then find out for yourself which account it credits? Or is that not an option?

Hope that helps - keep us informed, thanks.

Now know the card - it's an IF card. I was merely seeing if they were acting lawfully as it has taken 3 months to get to a position where they are asking for the actually card number!!! I had to chase them and seeing that it was done in error, and having closed the card, you would have thought they would have contacted me about the credit balance - they didn't, were unhelpful and they sat on the money!

I have to say, having made the mistake, I was trying to switch it to a card I wished the transfer to actually go. The window of opportunity has passed in the past three months and doing it this way meant it could still go through.