Lost balance transfer

RNewton

I’m so stressed out. On 14 January I did a £2,000 balance transfer from HSBC to John Lewis credit card.
unfortunately John Lewis changed their credit card bank account and HSBC sent it to the old bank account.
HSBC are saying they have not had it back and John Lewis are saying they never got it. 

I’ve been checking and calling & have raised a complaint but in the meantime it could take 21 working days I’ll have to pay two cards at once. It is so stressful.

MeteredOut

Don't worry, you won't lose it. If the complaint not resolved within 8 weeks, take it to the Financial Ombudsman Service.

I know its stressful, but please believe you will get the funds back.

In the meantime, if their mistake causes you any financial issues (eg, credit card charges or additional interest), these should be refunded/recompensed by whoever made the mistake.  Again, this may take some time though.

eskbanker

Hopefully whichever party is responsible will reimburse any extra interest costs as part of settling the complaint.

RNewton

Thanks night I’ve raised it as a complaint. 

RNewton

That should say both not night 

JuicyBrat

A similar thing happened to me. I made a £950 balance transfer to NatWest (statement balance payment was due on 22nd Jan) from John Lewis credit card (16th Jan), it initially went through and then bounced back the next day (17th January). I got a text notification from JL saying my payment didn’t go through. I rang JL customer service to query it, they blamed NatWest for not updating their (JL) new bank account details. NatWest informed me it was a known problem with JL/New Day. I raised a complaint with JL and was told someone from their finance team would ring me, that didn’t happen. I rang back and spoke to a manager, she said it was an external problem, that it was costing them lots of money to fix but couldn’t give me a timeline. On 20th Jan, I got a call from the JL New Day resolution team. They were very apologetic, and explained that they had problems with payments being sent to Santander (previous holding bank) but that the account was closed/no longer being used. He gave me a sort code and bank account number and suggested I use it to try and do the balance transfer again (it didn’t work!). After a bit of back and forth, he offered me £30 compensation (to cover the cost of the balance transfer fee), and said it would take 3-5 working days to reach my bank account. He also suggested I pay the minimum contractual amount to avoid late payment fees and offered to waive interest charges for the next 2 months. I was so stressed, I borrowed the money to pay off the whole balance to avoid it being carried over every month. I've very little faith that my £30 will turn up! Really poor show on JL’s part.

Edit: I'm half tempted to ditch JL cc, offers aren't that great anymore but we do a lot of shopping in John Lewis and Waitrose

RNewton

Hope you get it sorted soon too JuicyBrat.

JuicyBrat

RNewton said:

Hope you get it sorted soon too JuicyBrat.

Thanks RNewton, me too 

JuicyBrat

NewDay update: result £30 compensation arrived into my bank account today. Also got a text notification from NatWest (on Saturday) saying the balance transfer issue has now been resolved and to make the transfer. Since I already paid the full balance, I ignored it but it was nice of them to let me know.

ps163

I am still having problems trying to transfer my balance from John Lewis/New Day to Barclaycard. I tried on 19th Jan and again on 25th Jan, but both times it has failed. I’ve called the customer service teams at both Barclaycard and John Lewis three times each, who both confirmed this is “a known problem” that they are trying to fix (but can’t give me a date for when this might be). Annoyingly, John Lewis have texted me after each failed transfer to say “Your payment was returned because you’re still using our old bank details”. Even though the transfer is attempted by the other card company (in my case Barclaycard) John Lewis just send a standard message saying it’s me who is using the wrong number! As others on this thread have mentioned, it seems the root cause of all this is that JL changed their bank account a few months ago. Why are they not emailing, or texting, or messaging via the app, their customers about this? Their lack of communication is appalling. Like JuicyBrat mentions earlier, I paid the minimum payment last week to avoid any penalties JL would have imposed. But I am hoping JL will keep to their word, given each time I’ve spoken to them, that I will not have to pay interest on the balance now outstanding on my JL account, which remains unpaid through no fault of my own.