HSBC Current Account Transfer to Credit Card

Sunday_Morning

I use HSBC's online banking to manage my current account and credit card.

I'm in the happy habit, currently anyway, of transferring the credit card balance in full from my current account each month before the "deadline date".

My last transfer was effected on friday. As usual the money went straight out of my current account, but I have to wait to see the corresponding credit.

Now I accept that it may have been after 3pm on friday 18th when I did the transfer, though I don't think it was. I drew out £100 cash that day at lunchtime and the transfer shows as activity on the account that took place before this withdrawal.

So before or after 3pm on friday - surely anyway by now I should expect my credit card account to have been credited accordingly? Yet today when I checked, it still hasn't been.

I think today is my deadline for paying up before interest is charged. What happens if it still isn't credited?

gt94sss2

HSBC's website states:

You can now pay your HSBC or first direct credit card bill by using your debit card at any HSBC cash machine.The payment will be debited from your account immediately. It may take up to three working days to become available on your account, but will credit immediately for interest purposes.

I presume the same 'delay' can apply to online transfers - however, you won't be charged any interest as they credit immediately for interest purposes.

Regards
Sunil

Sunday_Morning

gt94sss2 wrote: »

HSBC's website states:

You can now pay your HSBC or first direct credit card bill by using your debit card at any HSBC cash machine.The payment will be debited from your account immediately. It may take up to three working days to become available on your account, but will credit immediately for interest purposes

I presume the same 'delay' can apply to online transfers - however, you won't be charged any interest as they credit immediately for interest purposes.

Regards
Sunil

Thanks Sunil for your response

Mmmm...I only hope the same "credit immediately for interest purposes" philosophy does extend to online banking. It would be astonishing if it didn't..but not beyond the bounds of possibility!!!!

Regardless....if, as I strongly suspect, I conducted the transfer on friday lunchtime, it's now gone past four working days without the money being credited against my credit card!!!

Why is it when consumers are promised broadband with speeds "up to" a certain figure, that figure is rarely attained and never exceeded, whereas if consumers are promised that credits will be made "up to" three working days, the three working days are always attained and sometimes exceeded!! :rolleyes:

gt94sss2

Sunday_Morning wrote: »

Mmmm...I only hope the same "credit immediately for interest purposes" philosophy does extend to online banking. It would be astonishing if it didn't..but not beyond the bounds of possibility!!!!

I knew I had seen a similar thread recently.

If you have a look at this (esp post 7), someone confirmed with HSBC that it does apply to online banking as well.

Regards
Sunil

jasmine

I always pay my Hsbc credit card from my Hsbc current a/c on the day its due...it debits from my current a/c immediately but can take some days to show on my credit card ..it's never shown as a late payment

Sunday_Morning

Yep... Got it confirmed from HSBC that the interest stopped on the day the transfer was made, and even got a little interest rebate.

The complication with my account was that my transfer was apparently made to an "old account" necessitating a further two days to the three day period.

I'm still not quite sure how this came about, but to their credit HSBC have advised that they now have amended the transfer details to stop it happening again and advised that the credit wil be effective from the original transfer date.