If a creditor payment is returned because of incorrect information, you can initiate a new balance transfer for that creditor. Please note that you must have a balance of at least $1 with a creditor to transfer that balance to your CleanSweep account, and balance transfers must be for at least $200.
What can I do if a payment to a creditor is returned?
Additional Balance Transfer FAQ
- I got a notice that one of my balance transfers was canceled. Why did that happen?
- What is the minimum and maximum balance transfer I can initiate?
- How long does it take for a balance transfer to process?
- What is a CleanSweep Balance Transfer?
- Why is the button on my account dashboard to initiate balance transfers disabled?
- How do I initiate a Balance Transfer?
- I initiated a balance transfer by mistake. Can I cancel the balance transfer?
- How many creditors can I add to a balance transfer at once?
- If your creditor is not on the list of creditors while making the Balance Transfer
- What is the minimum creditor balance I can transfer as part of a balance transfer?
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Related FAQ's
If you don't see the option to initiate a balance transfer, it's possible that your account is blocked.
Balance transfers are canceled when a payment to a creditor fails.
The minimum balance transfer amount is $200.
It generally takes up to 7 days to process the request.
When you initiate a Balance Transfer on your CleanSweep account...
Related Glossary
{noun} A type of credit that allows the borrower to make charges and payments against a set borrowing limit, paying interest only on outstanding balances.
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment.
{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.
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