Balance Transfer - How Long To Go Through? MBNA to HSBC

thundyuk

Hi there,

So the quick tale is last weekend on the 05/05/24 I applied for a new HSBC credit card with a 26 month interest free period on for balance transfers. On application I filled in the MBNA card details I wanted to move the money from, completed the rest of the application, and got the card on Thursday the 9th May.

I had to call HSBC to activate the card, and asked how long it would take (called today on Sunday). They said it's about two working days usually, but it's been four. The lady I was speaking to didn't seem to b able to see anything in progress t here either but also said I would need to speak to the other bank as the onus is on them for transfers. Is that right?

Does it sound like something has gone wrong or is it normal to take longer? I don't want to apply again as I'll end up with credit on my MBNA card by accident if it goes through twice lol

Anyone have any experience with timescales at all? 



Thanks!!  

Brie

Do you have access to both the accounts online?  Is money coming out of one and not going on to the other?  

You say you got the card on Thursday 9th.  And they said about 2 working days.  So assuming you activated the card on the 9th and asked for the BT right away about 2 working days would, by my reckoning be Monday or Tuesday.  If you activated the card today 12th then I'd say maybe by Wednesday or Thursday at the earliest.  

daivid

No experience with MBNA to HSBC, but most of my BTs seem to go through within a week. Whilst 2 days does indeed sound typical, 4 days wouldn’t shout 'something has gone wrong' to me.

thundyuk

Brie said:

Do you have access to both the accounts online?  Is money coming out of one and not going on to the other?  

You say you got the card on Thursday 9th.  And they said about 2 working days.  So assuming you activated the card on the 9th and asked for the BT right away about 2 working days would, by my reckoning be Monday or Tuesday.  If you activated the card today 12th then I'd say maybe by Wednesday or Thursday at the earliest.  

Hi, not after the card came. I applied for the card and filled out the balance transfer at the same time on the 5th. It was all part of the initial application form online. 

Cheers

thundyuk

Right, so just going to finish this story to perhaps clear this issue up for someone else down the line and highlight how monumentally stupid the application process and balance transfer being combined into one is. You’ll understand why after reading the following…….

 

As I said in the OP I applied for a HSBC credit card on the 5th May 2024, and during this application process it asks if you would like to do a balance transfer, so I filled out those details as this was the whole reason for applying.

 

The application was approved and the card arrived on the 9th May no problem at all. I tried to activate it via the mobile app shortly after that, but it asked me for a “Telephone Security Number” during this process which I did not have because the application process doesn’t ask you to set it up.

I had to call HSBC to set up this “Telephone Security Number” over the phone with them, and to their credit they are well versed in this (probably as they get calls about this constantly) and they stayed on the line with me after generating this TSN until I’d then activated my card via the mobile app.

Whilst on the phone, I asked if they had any update on my balance transfer and they stated HSBC had no record of it being requested, and said I must speak to the other bank as the action will be at their end. I said fine, but thought it a bit odd they had no record of it at all.

I spoke to the other bank – MBNA – who said they had no record of a request being made, and to please resubmit it via HSBC.

 

Getting a little annoyed at this point if I’m honest, but thought I’ll leave it another week just in case someone has got it in progress somewhere, and I don’t want to send it again if so in case it doubles up.

 

Well, it was a good job I thought that because I got the attached letter in the post today.

So in summary

·       You apply for a credit card with a balance transfer (as part of the online application) but you can’t do a balance transfer till you activate the credit card.

·       You can’t activate the credit card, because they don’t send you a “Telephone Security Number” but they say you should have it.

·       When you call them to set up this TSN so you can activate the card, they aren’t even aware that you requested a balance transfer or that the card has to be activated first for it

What the actual….. Honestly, I’m amazed nowadays if anything works properly or anyone knows what they’re doing but this one surprised even me in how badly it’s orchestrated.

I mean, if the card's got to be activated first (never had this with any other lender before) then fine, but tell me and at least have some provision for your customer service team actually be able to CHECK!  And make them aware so when you ask they can at least say "Ah it has to be activated first, and you'll get a letter soon."

Left hand not knowing what the right hand is doing and all that.

I’m just waiting to see now that everything is set up if the balance transfer actually happens. I would be at all surprised if it doesn’t.

Hopefully someone might find this when Googling some time.

Chrysalis

I remember on one card, a BT wasnt done.  After that any new cards I got I didnt enter the BT details on the form and did it manually after getting the card so I could be sure it was requested.

thundyuk

MBNA have just confirmed, now, that the entire balance has been paid off.

All's well that ends well but wow, come on HSBC... sort yourself ouit.