Balance transfer check

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I deposited a balance transfer check into my checking account and I called today because it hasn't cleared (it's been two days). They said there's a hold on it until next week and the funds will be released, but the credit card is showing the balance as having cleared. Is this normal? I'm paying off another CC and taking advantage of the 0%apr.

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tessaharvard said:   I deposited a balance transfer check into my checking account and I called today because it hasn't cleared (it's been two days). They said there's a hold on it until next week and the funds will be released, but the credit card is showing the balance as having cleared. Is this normal? I'm paying off another CC and taking advantage of the 0%apr.
  what was the balance transfer fee?  

tessaharvard said:   I deposited a balance transfer check into my checking account and I called today because it hasn't cleared (it's been two days). They said there's a hold on it until next week and the funds will be released, but the credit card is showing the balance as having cleared. Is this normal?
 

  Yes.
 

I got charged a cash advance fee one time when depositing a BT check into my checking account. I had to call them to get it refunded.

When you deposit a BT check, that is treated as a draft and not a regular check. Such a delay is normal for many banks. 20/20 Hindsight - It would have been better to write the BT check to the account you wanted to pay off or do the deed via the BT process on the BT issuing website and let them handle it. Yes there could have been a delay still, but usually not as long as the process you are having now.

Been there .. done that both ways.

Yes it's normal. Those balance transfer checks they have to make sure are legit as they send those in the mail all the time. They always say it takes at least a week. Expect a call from the CC company if it's a large amount to make sure it's legit.



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