Balance transfer accepted...but also, not?

[Anonymous]

I don't even know what to think about this.

I recently was approved for a Citi. I got 18 months 0 apr on balance transfers. 

So I sent a check to my CapOne card to pay off that balance ($4900).

On Feb 3rd, it posted to my account at Cap One. It is still there as posted as payment received and applied

Today I tried to use my citi and it was declined. Shouldn't be though. So I called, the lady didn't speak well, or apparently listen well either (she was American, so this wasn't a language barrier).  She said there was a hold on my account and needed to verify. Asked if there was a cell number she could text, sure, I gave her mine.  She said they couldn't text it cause they couldn't verify it and to give another. Gave my sons cell who is with me right now, same thing. Said she'll need to verify my identity via another bank or card or she'll have to mail something. Give her my bank, they aren't on their list...okaaayyy. So said ok, verify with cap one (the one I JUST paid with the balance transfer). She calls, we verify, she starts to spout my cell...they have it wrong. They are off by a digit (skipped a digit in the middle and added a different at the end). So a 10 key issue with whomever put it in. 

So all was fixed and I'm verified...great right?  

So I am now able to log back in to my new citi card (wouldn't let me log in until I did the phone thing).

Click on balance transfers and see the check I sent was "paid", then right under says "returned"

Also, my balance is only like $100...should be WAY more with the balance transfer.

So I call back to Citi, he says they don't have an active balance transfer and that it looks like cap one sent the check back to them. I log in to cap one while on the phone, verify that they indeed DID cash it and apply it to my card.  He's super confused, I'm super confused, we agreed to just sit and wait to see if anything happens because nothing is happening on their end and it's paid off on the other card.

I am MEGA confused now. I've done transfers before and have never ever ever come across this. 

So in short..

CapOne balance $4900

Citi (new card) balance transfer check sent for $4900 on 1-30-18

CapOne posted payment from check for $4900 on 2-3-18 (was sent payment received text and verified online)

Citi claims CapOne sent the check back (accepted, then rejected) on 2-6-18

The $4900 is literally floating somewhere in the web. NEITHER card has it on the balance. 

So did they just lose the money?

I'm partially exicted and terrified at the same time lol

Has ANYONE had anything like this happen?

[Anonymous]

The exact something just happened to me last night. I am also a new Citi customer. Basically spent 30 mins trying to lift the restriction on my account. In the end, a conference call with my bank (USAA) verified my information. 

She stated they are doing that verification for new Citi customers. 

[Dalmus]

That's an odd one.   That's one of the reasons I don't like using paper BT checks.  When you do it electronically, you know the money is at Card A and transferred to Card B.  With paper, stuff like this can happen while waiting for the check to clear.

I would watch CapOne like a hawk.  The notes could say that it was applied to your account, and then once Accounting gets through reconciling everything, find that the check was "bad" and pull the money back from our account AND hit your with a returned check fee.  It would be nice to think that you hit the cosmic lottery and got a "free" payoff, but eventually either the check will work its way cleared through the system and that $4900 will show up on your Citi card, or it'll work it way returned through the system and it'll show back up on CapOne.

Then you have to worry about CapOne overreacting to the returned payment, which is a possibility.

I'd lean towards the paranoid end of the spectrum while you wait!

[Anonymous]

Yea, it's SUPER weird. 

The thing is, Cap one applied the payment. But citi is claiming that the check was sent back to them.  So no balance transfer happened. I'll be watching them both like a hawk. I have screen shots of everything. 

The thing is, why would cap one apply it to my balance, paying it off, then send it back to citi like it didn't?  

You don't just send checks back after cashing them. 

I really hope they don't pull something back and then try to charge me for their mistake, I will go ape**bleep**. lol

[Anonymous]

Definitely keep us posted as this is unusual and may help others. Good luck!  

[Dalmus]

---

wrote:

Yea, it's SUPER weird. 

The thing is, Cap one applied the payment. But citi is claiming that the check was sent back to them.  So no balance transfer happened. I'll be watching them both like a hawk. I have screen shots of everything. 

The thing is, why would cap one apply it to my balance, paying it off, then send it back to citi like it didn't?  

You don't just send checks back after cashing them. 

I really hope they don't pull something back and then try to charge me for their mistake, I will go ape**bleep**. lol

---

 You don't, no...  But you can recieve a check from your friend, deposit it thinking all is well, even see it in your account, and then a few days later you get a notice from your bank that the check bounced.  This COULD be the scenario at play here.   I'm not sure how they clear checks, but I would assume that the banking division is separate from the credit division.

 I hope it get cleared up soon for you.   It would be driving me nuts! 

[AverageJoesCredit]

Im no expert on Bts but the ones ive done , with Boa and once with Citi, i just prefer the method of having it deposited into my checking account. Then i pay off the card as if i were paying my normal monthly bill. I find it easiest for me. Not sure thats always an option with other creditors but Citi should be able to.

[Aahz]

It has been a couple of days.  Any updates on this?