Hello again everyone.
OK - this is "interesting" (no pun intended)
Further to the above, I applied to balance transfer 5,000 from one CC to another to avail of a 0% balance transfer option.
This morning I checked my accounts.
1. the Account offering 0% for 6 months is now showing the balance transfer amount 5,000
2. the Account from where the money is being transferred is still showing the amount of 5,000 in this account.
So, at this moment, my debt has now doubled to 10,000.........(5,000 is showing on BOTH accounts)
Also, IMO, if the ICB ran a check on me at this moment, it would show me having debts to the tune of 10,000 instead of 5,000 as BOTH accounts are showing a balance of 5,000.
FWIW, I rang BOTH CC companies just now.
The 0% one said that the balance was sent from the other CC company on 24/9 and posted to my account on 25/9
The other company said it can take up to 3 working days for this to clear.
I've raised a query with them on this as I thought finance worked on the basis that "for every debit, there's a credit" (I know, I know, naieve old me...!!)
Am I getting the full story here?
PS - I should add that the balance being transferred arose from a cash withdrawal, on which daily interest applies.