Vanquis Bank/Capital One balance transfer

keeks1986

Hello, I'm having a bit of a tough time and was hoping for some input.

I applied to Vanquis Bank for a balance transfer card. They paid Capital One the transfer amount and added it to my new card balance but it never showed up on my Capital One account. 

I raised my concerns pretty quickly with both banks and they have been "investigating" the issue for over a month now. Today I discovered that Vanquis Bank have paid the balance transfer to an account number that doesn't exist. The incorrect account number is very similar to my actual account number and so naturally I have been accused of entering the incorrect details during my initial balance transfer request (which I deny doing).

I've also now received final responses from both companies saying that there's nothing they could do differently and to speak to the other card company to fix the issue. 

Vanquis Bank are saying that I owe them the balance on the new card, so rather than reducing my debt I've now increased it significantly.

I'm obviously very frustrated and concerned by the whole thing & it's begun to affect my health due to worrying.

I spoke with the financial ombudsman today and raised a complaint, they said it could take up to 4wks to be assigned to an investigator & couldn't say how long it would take to reach a resolution. I'm worried how I will be able to manage paying both cards now that my monthly payments have essentially doubled due to the error.

Is there anything that I can do while I wait for some help? For instance freezing the cards or payments until it's sorted out? I really don't want to start missing payments because I've spent a long time improving my credit rating, despite my precarious income. 

Thank you 

Nasqueron

You'll have to make the payments until the funds are traced and returned.

It will be an expensive lesson as firms don't manually enter the account numbers you provide into their systems  themselves, they pay to whatever numbers you put in (away from you doing it via phone if that is possible) so they will simply point to it being a keying in issue.