Credit Card Balance Refund

  • keeponrunning's Avatar
    Why does it take 2 working days to receive funds in my bank account after making an online transfer? Surely, with Faster Payments, this should now be within 2 hours?

    And also, as you are so slow to make the transfer, does it mean that I can’t use my credit card until the transfer has been made, in case a new pending transaction causes a handling fee to be added to the transfer?
  • 6 Replies

  • CSKBrambles's Avatar
    Above and beyond
    Hi
    Thanks for your questions.
    If you choose to transfer more than your credit balance, normal fees and interest charges will apply. When this type of refund is processed, you will receive your money within 2 business days, it is not a faster payment transaction.
    Regards, Chris,
  • keeponrunning's Avatar
    Thank you, but why is not processed as a Faster Payment, when it could be and secondly if I transfer my credit balance, if I then use my card after requesting a transfer, will that transaction cause a handling fee, because the available credit will then be less than it was?
  • CSKBrambles's Avatar
    Above and beyond
    Hi
    I’m not sure about the timing difference, and of course you can continue to use your card if you have a credit balance, but not a pending credit transfer.
    For clarification I suggest that you send a private message to Tesco Bank.
    Please click on and on the next page you'll see an option to ‘send a message’ which is addressed privately to Tesco-Bank.
    Please include your date of birth and postcode in your message.
    You will receive a reply to your private message with a satisfactory-explanation..
    Kind regards, Chris,
  • KeiganM's Avatar
    Your Community Expert
    , if you would like to discuss this further, please send a private message to - Keigan
  • 25H's Avatar
    Community superstar
    Hi
    If you request a transfer of your credit balance and no more then it will incur a fee, howeverthis will be reimbursed to you within 7-10 days.
    If you then use your credit card as you would that would be fine as when you applied for your credit balance that is what you had at that time, like a snapshot.
    I suggest that you send a private message to Tesco Bank to get clarification from them.

    Please click on this link @Tesco-Bank and on the next page 'About Tesco Bank'.
    Towards the top right of the page in the blue panel click onto 'Send a Message'
    which is addressed privately and confidentially to Tesco-Bank.

    Please include your name, date of birth and postcode in your message.

    You will receive a reply to your private message.
    Warm wishes, Caz
  • Sheena1975's Avatar
    Eagle eye
    Hi I may be wrong (it happens more than id like lol) but I think faster payments are only available on certain transactions, Tesco usually give it as an option where its available - like on clubcard points its listed as an option. You should still be able to use your card as long as you have only requested the correct amount to transfer as suggested by and Regards