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Getting positive balance out of credit card

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  1. #1

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    Getting positive balance out of credit card

    Quick one.

    Going to have quite a high positive balance on my credit card due to refunds from quarantine hotels. The statement has already been issued before the refunds occurred so the money coming out of my account to pay for the CC will be the full amount before the refunds.

    Is there any way of getting this positive balance back and transferred back to my bank account (save for just spending on the credit card)?

    If it helps this will apply to SCB Simply Cash and HSBC Red.

    Thanks in advance.


  2. #2

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    I've gotten positive balances back fro StC - they send you a cheque. Took about one statement cycle IIRC

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  3. #3

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    With Standard Chartered, I just called them and they can transfer the positive balance back to a regular savings account. But I think it took a while to process.

    I had to do this once when taking out a new tax loan with them, they wanted me to pay off an existing tax loan with another bank first, but I didnt want to because that loan had an early repayment penalty, so they said OK just transfer the amount of that existing loan onto your credit card as a positive balance. This seems to be a way to trick their computers into thinking I have no debt and allow them to give me a new loan. Then as soon as loan approved can transfer back from credit card to regular account.

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  4. #4

    I got a cheque from DBS. Just had to call them and don’t think it took very long!

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  5. #5

    You can use your Standard Chartered credit card to top-up to your AlipayHK or PayMe account, then FPS to your bank account.

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  6. #6

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    Quote Originally Posted by greenlover1991:
    You can use your Standard Chartered credit card to top-up to your AlipayHK or PayMe account, then FPS to your bank account.
    Hi.

    Thanks for this, am looking into this now and think I have it set up.

    At the moment say my statement is to pay back hkd10k but balance in account is hkd5k (so will be positive hkd5k after statement is paid off), can I transfer hkd5k today from SCB cc to Alipay then FPS back to bank account? That way balance will then be hkd10k. Or probably best wait until I have positive balance?

  7. #7
    Quote Originally Posted by pin:
    At the moment say my statement is to pay back hkd10k but balance in account is hkd5k (so will be positive hkd5k after statement is paid off), can I transfer hkd5k today from SCB cc to Alipay then FPS back to bank account? That way balance will then be hkd10k. Or probably best wait until I have positive balance?
    If I understand you correctly, the 10k is already billed statement for July, then yes pay it in full to avoid interest fees. You don't have to wait to topup 5k to AlipayHK if you're sure you'll get a positive balance of 5k in next month's statement. That'll mean your August statement will then have HKD 0 due.

    As I remember, SCB credit card topup to AlipayHK is only free for the first 100k HKD per year. And depending on your AlipayHK account verification level, transfers including FPS are limited to HKD 5K/transaction, HKD 20k/day. So check for that as well.
    Last edited by greenlover1991; 25-08-2022 at 08:40 AM.
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  8. #8

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    Quote Originally Posted by greenlover1991:
    If I understand you correctly, the 10k is already billed statement for July, then yes pay it in full to avoid interest fees. You don't have to wait to topup 5k to AlipayHK if you're sure you'll get a positive balance of 5k in next month's statement. That'll mean your August statement will then have HKD 0 due.

    As I remember, SCB credit card topup to AlipayHK is only free for the first 100k HKD per year. And depending on your AlipayHK account verification level, transfers including FPS are limited to HKD 5K/transaction, HKD 20k/day. So check for that as well.
    Thanks. Ah 5k per transaction means I am going to have to do several transactions over multiple days.

    Maybe quicker than calling SCB up to set the positive balance though.
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  9. #9

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    So I tried a trial hkd5k transfer from my cc. Showing as pending transaction. However for some reason an HKD5k debit to Alipay is showing on my SCB bank account.

    As a result my bank balance hasn't increased by 5k, but remained the same and I have a pending 5k charge on my cc.

    Maybe need to wait a few days?

    Last edited by pin; 25-08-2022 at 02:45 PM.

  10. #10
    Quote Originally Posted by pin:
    As a result my bank balance hasn't increased by 5k, but remained the same and I have a pending 5k charge on my cc.
    Not sure what you mean by "bank balance hasn't increased by 5k". Your AlipayHK balance should now have 5k more, then you can FPS that to any of your savings account. The pending 5k charge on your CC is expected. As I know SCB does not show updated CC transactions in real-time, usually in the morning of the next business day.

    In SCB online banking, to top-up to AlipayHK, it would look like this:

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    Then it should show up in your transfer history where it says "Top up by credit card", and also in "Cards > Transaction History"

    Name:  Screenshot 2022-08-25 at 3.15.27 PM.png
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    Maybe you accidentally topped up from your savings account instead of the credit card? You need to register your AlipayHK account first under the "Mobile Wallets > AlipayHK Accounts > Add an Alipay Account for Top up".

    Hope that helps.

    Edit: After re-reading the T&C, the free top-up is now 25k/month instead of 100k/year

    Effective from 25 December 2016, the maximum transfer amount in a month with the above method(s) is HK$25,000 per Cardholder, according to the Cardholder's Hong Kong Identity Card Number or Passport Number (if applicable). I agree that if the total accumulated money transfers made by the above methods (based on the transaction date) exceed HK$25,000 per Cardholder in a month, a 3.5% handling fee will apply to the transferred amount beyond HK$25,000 and charges will be debited to the valid Credit Card account with the highest transferred amount.
    Last edited by greenlover1991; 25-08-2022 at 03:34 PM. Reason: missing step; added new limit; balance reflection
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