topic Re: Visa Balance Transfer Dispute Rules in Credit Cards

Visa Balance Transfer Dispute Rules

MB2714 — Wed, 18 Dec 2013 03:31:50 GMT

Does anyone know if there are specific rules Visa has regarding disputing a balance transfer on my credit union visa if the company it was sent to claims it was never received and it was in check form. Are balance transfer disputes handled different than merchant disputes? Please advise???

Re: Visa Balance Transfer Dispute Rules

FinStar — Wed, 18 Dec 2013 03:39:46 GMT

Balance Transfer disputes are handled by each specific lender. Visa has no bearing or rules that govern the disputes process regarding promtional transactions such as BTs. Has it been greater than 30 days for the remitter?

Re: Visa Balance Transfer Dispute Rules

MB2714 — Wed, 18 Dec 2013 03:45:13 GMT

Yes as of tomorrow. My credit union said send request in writing . But if it was cashed how do I prove it other than showing copy of other creditor statement showing payment was not received. Both the payee and my credit union say it should have been received by now.

Re: Visa Balance Transfer Dispute Rules

09Lexie — Wed, 18 Dec 2013 03:50:35 GMT

If the bt was cashed, then it would be easy to trace by whom.

Re: Visa Balance Transfer Dispute Rules

MB2714 — Wed, 18 Dec 2013 03:52:49 GMT

The creditor was Continential finance. Does that make a difference ?

Re: Visa Balance Transfer Dispute Rules

FinStar — Wed, 18 Dec 2013 03:54:52 GMT

@Kalamazoo2714 wrote:
Yes as of tomorrow. My credit union said send request in writing . But if it was cashed how do I prove it other than showing copy of other creditor statement showing payment was not received. Both the payee and my credit union say it should have been received by now.

You would need to work with the CU (or the remitter) to provide proof of the payment since the funds may have already posted to your CU account. Did you submit the BT information online, or was it a BT check, or did you call to process the BT? Was the correct address for the payee provided?

It's possible there may have been an error on their part (hopefully they did not input the incorrect acct# for payment). They would at least need to provide the remitter's address and the payee account # so you can confirm those records. I'm also guessing their process was manual (i.e snail mail)? Most of the majors usually process BTs electronically via ACH and tends to remit much quicker.

Re: Visa Balance Transfer Dispute Rules

09Lexie — Wed, 18 Dec 2013 03:56:47 GMT

@Kalamazoo2714 wrote:
The creditor was Continential finance. Does that make a difference ?

To? Your credit card should be able to tell you if the BT was cashed. Perhaps Continental Finance never received it or they couldn't locate the account and returned the check. Either way, you have to start with who cashed the check, how it was credited and if they will credit you quickly.

Most companies say they are not responsible for information provided for BT -so you will need to confirm the information given was accurate.

Re: Visa Balance Transfer Dispute Rules

MB2714 — Wed, 18 Dec 2013 03:57:15 GMT

It was done on the phone and the address auto populated based on the address. But on my statement it shows Fidelity information services although the account number was correct and was a Continential finance payee. So they said it will be looked into but could take time. In the mean time it has posted against my available credit.

Re: Visa Balance Transfer Dispute Rules

FinStar — Wed, 18 Dec 2013 04:04:06 GMT

@Kalamazoo2714 wrote:
It was done on the phone and the address auto populated based on the address. But on my statement it shows Fidelity information services although the account number was correct and was a Continential finance payee. So they said it will be looked into but could take time. In the mean time it has posted against my available credit.

So, just to be clear, you submitted the BT request via phone, not through a BT check right? And the payee was Continental Finance?

They should be able to trace the payment since there should be proof on their end (provided Continental Finance has cashed it). It may take them a while though so in the meantime you may need to make 2 payments to both accounts until the situation is resolved. There are no special rules that govern the use of these instruments (as far as protections unlike a purchase) since you authorized the BT and the payee has no record of the payment...yet.

Re: Visa Balance Transfer Dispute Rules

MB2714 — Wed, 18 Dec 2013 16:37:00 GMT

My credit unions plastics department said it was never cashed. Thanks everyone.