Thought I would share our experience so far with our BT request with X1 to a new Navy Platinum card.
- 02/16 - DW was approved for New NFCU Platinum $25,000, we had been carrying a balance for a month on her X1 card of $15,000+ requested the BT during application
- 02/26 - Discovering after the fact that X1 is not all too BT friendly and discovering that an email to them usually results in an exception an email was sent to X1
- 02/28 - X1 replied allowing a "one time exception as a courtesy" and provided the same address we had given Navy, also a note to allow 2-4 weeks for the check to reach them and deposit to clear
- 03/01 - Made our regular X1 payment of $421
- 03/07 - New Navy Platinum Card statement posted showing the balance equal to the BT payment with 1st payment due 04/04
- 03/15 - Sent Navy a secure message asking for the status of the BT
- 03/16 - Navy Replied that the check was mailed to the correct address on 02/25
- 03/20 - Messaged Navy again to ask if they could check to see if the check sent has cleared
- 03/21 - Navy Replied that the check has still not been processed by X1 and asked if we would like to request a stop payment.
- 03/21 - Emailed X1 to have them check the status as our next payment is coming due soon.
- Update - 03/21 - Received reply from X1 "unfortunately not yet received the physical check sent on your behalf. We are still within the 2-4 week timeframe though, so please do follow up with me if you still do not see an update by end of day Saturday"
- Update - 03/23 - Received another reply from X1 "I have an update for you - we have just received your check in the mail, and it is now in queue for deposit. It can take up to 10 business days for this to reflect on your account
- Update - 3/27 - Another payment is due 03/26 - Sent email to X1: "As you are probably aware my payment was due yesterday. Since you have confirmed receipt of their payment on my behalf for the full balance. I am not planning on making any additional payments. Please confirm that this will not negatively impact my account with you in any way.
- Update - 03/28 - X1 Responded: Yes, we can confirm that we received your check, however, it can take up to 10 business days for this to reflect. As the team shared previously, "Please monitor your next payment due date - in the event that your check does not clear before then, you will need to make a payment from the connected bank account in your app in order to avoid interest and delinquency. " For reference, there are no late payment fees or penalties, however, there will be interest charged as the statement balance was not paid off by payment due date. Hope this provided clarification, and let us know if we can assist with anything else.
- Update - 03/30 - Balance transfer payment has still not been posted to the account, Notice on my app that my account is delinquent and future transactions would be declined until payment is made.
- Update 03/31 - Sent another secure message to Navy asking to verify if the check has cleared. X1 posted our interest charge last month on 03/04 let me guess our payment will post on 04/05 after the interest posts to the X1 account
- Update 03/31 - Response from Navy "The balance transfer check was sent on 02/25/23, and was cashed on 03/29/23."
- Sent an email to X1 asking them to update our account to show the payment applied to the account on 03/29
- Update
- 04/01 - X1 Email Responded that they would backdate the payment to the day they received the check
- 04/05 - X1 Email Responded that the payment would reflect on the account tomorrow
- 04/06 - X1 app now shows the payment on 03/15 same day as the interest charge for the previous month.
- They appear to have removed the interest charge from April 3. It still shows in the list of charges but the balance doesn't seem to include it.
- 04/07 - As soon as we spend the remaining negative balance on the card it's headed to the sock drawer just not sure what to do with all of these points. I guess we need to figure out what to buy with it to use them up first.
I will update here as this adventure continues, needless to say, my DW is not too happy that we are in essence paying interest on the same dollars to 2 different companies albeit only .99% to Navy. Will give it until we reach the 4 weeks that X1 claimed and then try to get Navy to just fund our checking account to make an ach payment to X1.
Conclusion: 50 days later! Although it finally worked out, this is not a card I would want to navigate another balance transfer with, 50 days is ridiculous, at the same time we really haven't been all too pleased with this card. Other than being able to create virtual cards for subscriptions or to manage spending with our children. The points are not easy to use and don't provide us with the results we desire. It was nice that they don't charge a late fee but they do freeze the card and I think they also reduced our point earning level, pretty sure we were at 4x before we decided to let that last due date pass waiting on the balance transfer that they admitted they had in hand. There are other issues with the card that I won't go into here. We are glad the balance transfer went through, hopefully when they start offering that on their side it improves but I'm not holding my breath. Once we use up the negative balance and points it's going in with the socks.
I agree.
I really thought that all BT's like this were done electronically.
Checks are still mailed? I personally haven't written a check in years... but did see a little old lady writing a check for her groceries a few weeks ago. 
@TRC_WA wrote:I agree.
I really thought that all BT's like this were done electronically.
Checks are still mailed? I personally haven't written a check in years... but did see a little old lady writing a check for her groceries a few weeks ago.
Oh yes, physical checks are very much still used in BTs.
My Ollo CC had a 0% offer and no fees BT so I had my AMEX and another card BT to the Ollo. The other one was about 2 days and it was reflected on that card as a zero balance...AMEX, well...I had to call and Ollo said the electronic transfer was never accepted so they sent AMEX a check...took a few weeks.
@DaWhole9 wrote:My Ollo CC had a 0% offer and no fees BT so I had my AMEX and another card BT to the Ollo. The other one was about 2 days and it was reflected on that card as a zero balance...AMEX, well...I had to call and Ollo said the electronic transfer was never accepted so they sent AMEX a check...took a few weeks.
Same. Ollo mailed out a check to Amex and Navy and it took nearly a month for both to post.
@OmarGB9 wrote:
@DaWhole9 wrote:My Ollo CC had a 0% offer and no fees BT so I had my AMEX and another card BT to the Ollo. The other one was about 2 days and it was reflected on that card as a zero balance...AMEX, well...I had to call and Ollo said the electronic transfer was never accepted so they sent AMEX a check...took a few weeks.
Same. Ollo mailed out a check to Amex and Navy and it took nearly a month for both to post.
Is Ollo the slow part of the process?
I recently completed 2 small BT. One from Chase Amazon Prime to NFCU and one from Amex BCP to NFCU. Both were done lightning fast electronicaly in two days.
I started a BT with Capitol One to Truist Bank on 3/7/23. The pending transfer posted to my Cap1 account 3/11/23. Truist Bank still hasn't received payment as of 3/22/23. I also did a test payment from my Navy Fed checking on 3/15/23 Truist Bank received the payment on 3/17/23 but did not post it to my account until 3/21/23. Some banks just take their time processing payments.
Added updates to the original post, received replies from X1:
- Update - 03/21 - Received reply from X1 "unfortunately not yet received the physical check sent on your behalf. We are still within the 2-4 week timeframe though, so please do follow up with me if you still do not see an update by end of day Saturday"
- Update - 03/23 - Received another reply from X1 "I have an update for you - we have just received your check in the mail, and it is now in queue for deposit. It can take up to 10 business days for this to reflect on your account
@OmarGB9 wrote:
@TRC_WA wrote:I agree.
I really thought that all BT's like this were done electronically.
Checks are still mailed? I personally haven't written a check in years... but did see a little old lady writing a check for her groceries a few weeks ago.
Oh yes, physical checks are very much still used in BTs.
Preciously the reason I appreciate when the FI sends me 0% convenience checks. Just deposit and the cash is available within days.