CITI Simplicity BT question

[percy81]

Hey myficoers,

I did my first BT on May 13th and I'm not too familiar with the BT protocol. It's been since May 13th and still showing "pending authorization" when I log into citi account. The available balance is reflecting the transfer but the actual balance on the card shows zero. My other accounts that I transferred list no recent activity.
Is it normal for it to take this long? If it doesn't show any activity by the first week of June I will pay my minimum due on the accounts I transferred just in case.
What's the standard time frame for Citi? Getting worried that my BT will be rejected.

Tia

[Anonymous]

Thats very long for a balance transfer.  I'd give CIti a call to see what the delay is.  Balnce transfer usually take 3-5 days.

[JSS3]

A BofA rep told me the first BT will take 14 days because of the CARD act. Don't remember if it was the first BT on a new card, or just the first BT on a card, period.

My card was new.

[Anonymous]

---

@JSS3 wrote:

A BofA rep told me the first BT will take 14 days because of the CARD act. Don't remember if it was the first BT on a new card, or just the first BT on a card, period.

My card was new.

---

@JSS3,

My Discover card was new and did a balance transfer which took 3-5 days.  Also, OP is better off caliing Citi and checking why so long instead of going of on what a BOA rep. said.

[Anonymous]

All my balance transfers with Slate took exactly 7 days to process but it was another 2-3 days before the payments showed. If there's no change by Wednesday you may want to call Citi.

JSS3 not sure about the accuracy of that reps information...

[JSS3]

Notation: I was receiving a check to my bank account when the rep said that. I believe it was because it was a check? Not sure.

Yes, everyone's experiences, as always, will vary. I'm sharing mine. In no way does that mean that she shouldn't keep a watchful eye and then follow up with Citi. Just a data point. I, myself, have had varying results with BTs. No Citi BTs but below shows that YMMV. 

BoA BT to checking

requested 4/27/15

deposited 5/8/15

First Chase Slate

requested a BT 9/14/13

BT stopped "pending" and posted on Chase 9/23/13

credited to the recipients 9/25/13

Another BT

requested 2/20/14

posted on Chase 2/27/14

credited 2/28/14

Closed that account.

New Chase Slate

requested 4/25/15

BT stopped "pending" and posted on Chase 4/30/15

credited to the recipients 5/1/15

DIscover

BT 2/15/15
Showed posted 2/17/15
Applied and Posted to all accounts 2/19/15

[percy81]

I'm wondering because it's a long "holiday weekend" for the delay.

[percy81]

I did some more research online. I found a website listing the protocol for balance transfers for each bank. It DOES say "for Citi bank--14 days from the day account opened." A lot of the banks listed showed a difference in time more current cardholders and people that just opened their account. So I guess I'll know in two days.

[JSS3]

I found a Citi TYP BT! 

requested 11/8/14

credited to Chase 11/14/14

I love to test out BTs of different banks. The fee is of no concern.

[NRB525]

---

@percy81 wrote:
I did some more research online. I found a website listing the protocol for balance transfers for each bank. It DOES say "for Citi bank--14 days from the day account opened." A lot of the banks listed showed a difference in time more current cardholders and people that just opened their account. So I guess I'll know in two days.

---

With any BT you run, it is always best to follow the warnings, leave an amount on the account you are BT from, which is slightly more than the amount you have to pay as Minimum Payment, and pay that minimum payment on time (or just after the statement becomes available). This ensures you are in control of making that minimum payment and that it is never late. The BT will complete when it does, and it is possible, though not common, for the BT to fail to complete.