Eligibility:
Balance Transfers are held in a pending status until an account meets the following criteria:
-Account has been open for two weeks and,
-Primary card is activated.
Once these two conditions have been met, the Balance Transfer will begin processing.
(Please note that only accounts in good standing and not subject to any late fees will be permitted to initiate a Balance Transfer request. This feature is not available to Authorized Users.)
How long does it take for a balance transfer to go through?
Once you’ve successfully requested a Balance Transfer, Coign will begin the process immediately. You should see the balance transfer amount appear on your transactions list and on the Balance Transfer screen within 24 hours. This is to ensure that you don’t go over your credit limit while we process your Balance Transfer request. The process of Coign completing the Balance Transfer is usually completed within 3 weeks, or 15 business days.
How can I tell if my Balance Transfer has been approved or rejected?
Track your Balance Transfer status on the ‘Balance Transfer’ page. Access it from the Dashboard menu, and there you will see pending, completed and rejected requests.
Transfers typically process within 10 business days but may be rejected up to 30 days later.
Some Balance Transfer requests may be subject to additional verification. If your request requires further review, you will be notified. Requests awaiting verification will remain pending for seven days before they expire.
Can I cancel or change a Balance Transfer request after it is submitted?
Once a Balance Transfer request has been submitted it can't be changed from the mobile app. To make any changes, or to cancel the request, you'll have to call Customer Service at 833-690-2471 within 24 hours of initiating your request.
Please note, if funds have already been sent Coign may not be able to cancel the balance transfer.
Why was my Balance Transfer request rejected?
A Balance Transfer request can be rejected for several reasons. If your request is rejected, you'll get an email notifying you of the rejection and the accompanying reason(s).
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