Credit Balance on Creditcard

Viks

I'm in credit on my SKY mastercard but SKY have said that this is against Mastercards terms and conditions and so suspended the card.

Because i have used matched betting to put the money in there they wont give this back and said when they reactivate i either have to spend it or use a credit card cheque (for which there is a 3% fee) to get the money back. Is this right?

They also say mastercard doesnt allow gambling credits and so i find it confusing how can they advertise their own SkyBet website as a possible place to use your skycard in their T&C if you are not allowed to withdraw the money back? Does anyone know if i have been informed correctly, i couldnt find anything in Sky Cards T&C!

TIA

benf90

To me, it would be nothing to do with Mastercard but I could be wrong I suppose. The Egg Money account is a Mastercard and that is specifically designed to go into credit!

I would go back to Sky and see if you get through to another adviser that doesn't try to fob you off with excuses.

I wouldn't use credit cards for betting in the future though, most of the time gambling is registered as a cash advance so you're charged all the fees + higher interest that is common with cash advances.

Viks

I was betting on SkyBet which is free.

Also i saw on another thread that i could pay money from my credit card into my bank account direct but it didnt say how. Is this possible with SkyCard?

Finally, surely if i close my account they have to send me a cheque for the final credit on there?

battyboimatt

It really depends, places like william hill and coral let you deposit funds from a master card but they will not allow you to withdraw to a master card once again they say it is the rules from mastercard also many bingo sites are the same so it might just be a rule for mastercards

Viks

Whats the best way to withdraw my money to my current account now?

benf90

battyboimatt wrote: »

It really depends, places like william hill and coral let you deposit funds from a master card but they will not allow you to withdraw to a master card once again they say it is the rules from mastercard also many bingo sites are the same so it might just be a rule for mastercards

Just thought of something that could possibly explain this.

Some retailers have problems making refunds to Mastercards. I remember this from when I worked for a credit card company and it's only just come to mind.

This particular problem is caused by the retailers payment provider/processor not being up to date or the retailer not having up to date machines that can process refunds automatically. To get around the problem retailers have to manually process the refunds by typing in the card number and not swiping the card etc.

I know they wouldn't swipe a card anyway but maybe if the automated process doesn't work it could explain why some of them aren't willing to return credits to Mastercards? They could just be avoiding the hassle of having to manually process all the credits, time for them to update their systems if this is the case!

If I remember correctly, Asda used to have this problem quite often until they updated all the payment systems.

For the OPs question... I don't know the answer sorry. All I can suggest is you get back in touch with them and you may get through to a more helpful advisor this time.

realaledrinker

Google 'Mastercard Gambling Refunds' for loads of examples of this.

Their T&Cs do not allow this. All to do with the USA & internet gambling.

Viks

Is there some way of withdrawing the money from my skycard to my bank account without paying charges? surely i shouldnt be charged to access my own money.

darkcloudi

I got into credit as Amazon.co.uk refunded me for a particular amount due to an item developing a fault. I phoned SkyCard and explained the situation and they told me the refund should be credited to my current account within 10 days. Not sure why its going to take that long but they managed to do it when I provided the 16 digit number for my debit card.

Viks

i asked them and they said they cant for some reason! looks like ill have to close my account in order for them to send me my money by cheque. also i cant see why they are with holding my money but themselves encourage using it on skybet.

BenL

Are you massively in credit?

The easiest way for them to assit you resolve the situation is to unblock your card and let you do your weekly shopping.

Very strange