.png)
Managing promotional balance transfer timelines
I requested a balance transfer from an outside bank card three business days ago to take advantage of an intro 0% APR promotion, but the payoff hasn't appeared on the old card yet. My transfer dashboard says approved, but the credit limit on the new account already dropped by that amount. Is it normal for funds to take a full week to reach the payoff bank?
7 Views
Balance transfers take several business days to settle because funds move through automated clearinghouse batches rather than instantaneous wires. Because lenders disburse these payoffs through commercial settlement channels, threads on https://citicards.pissedconsumer.com/review.html touch upon how varying bank clearing windows affect when balances zero out. Keep making the minimum payment on your previous account if the statement date lands this week so you avoid late marks before the payment registers. Once the balance transfer clears completely, any slight excess funds will simply be returned by your old bank as an account credit.