We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Late payment fee due to easter B/H

Options
Could anyone give me some advice please.

Arranged a Bacs transfer to leave bank on tues 11th April. Due date Mon 17th April, didn't reach bank till 18/04/06 charged £20.

Who do i complain to first my bank , the credit card company or just put it down to bad luck.....

I wonder how much money they make by choosing easter monday as their due by date?

What should I do?

Comments

  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Your statement will tell you when to send your payment to ensure it arrives (and clears) by the payment due date. You generally have to allow 4-5 days for this to happen - you left 2 days! (don't forget we had Good Friday as well). So, you can't blame your bank.

    You might try phoning the card provider and asking for the fee to be waived. If they refuse, apparently you can threaten to take them to court and they will re-imburse you at the last minute. This will involve you writing them a couple of letters, and filing a claim with the courts service (fee payable but apparently you get this back when you win your case).

    Alternatively, you could put it down to experience, learn from it, and either send your payment in plenty of time in future or, better still, set up a direct debit (which in your case would have been collected on the 18th anyway - WITH NO PENALTY).

    BTW, they didn't 'choose' Easter Monday. They chose the 17th April, which just happened to be Easter Monday, based on it being x days after your statement date.
  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    For reference: who was the bank? whose credit card was it paid to? This payment should have arrived on Thursday if it left on Tuesday but not every bank 'sends' payments as soon as it leaves your account or you submit the request.

    The card provider will probably waive the fee as soon as you point this out to them since you made payment 'in good time' in my view and certainly in advance of the 'due date'. They should also be sympathetic on account of the bank holiday due date being a physical impossibilty to meet and the unstated due date being the 14th - which your payment should have met when you sent it. It is their policy to not press the fee - which would have been put on automatically - in these kinds of situations.

    [Roll on 2008: Same day bank to bank transfers can't come quickly enough!!]
    .....under construction.... COVID is a [discontinued] scam
  • HugoSP
    HugoSP Posts: 2,467 Forumite
    I'm with Capital one, who have waived the fee for me a couple of times plus interest charged as a result of paying a few pence too little on one occasion.

    Once when my mother died I completely forgot to pay that month's CC bill. I received both late payment and interest charges on the next bill. When I explained to the call handler why that month had not gone according to plan, he simply waived both charges.

    I suggest you phone then CC company up and ask them to waive the fee. If they don't, pay off your account and move the balance (if you have one) to Capital One.

    H
    Behind every great man is a good woman
    Beside this ordinary man is a great woman
    £2 savings jar - now at £3.42:rotfl:
  • alrewas
    alrewas Posts: 76 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    i've just received my natwest statement and they too have charged me 20.00 for late payment. due 17th & they processed 18th. I however went into a natwest branch on the 12th and gave them cash. Surely they cant take 3 working days to process cash!
  • tobyjug
    tobyjug Posts: 291 Forumite
    It was Natwest and my current account is Alliance and Leicester this has been arranged for a few days before. My husband arranged it and he has never had a problem before. I will get on to the credit card and put my case across.

    Thanks for the help...never heard of allowing 4-5 days before YorkshireBoy thought it was 3 days...Tues,wed,thurs...hence the plan that failed...
  • muffle_2
    muffle_2 Posts: 98 Forumite
    Part of the Furniture Combo Breaker
    I got caught out by the bank holiday as well. When I realised, it was 1 working day too late so I knew I would get charged interest anyway so I didn't bother settling it in full. Fortunately the minimum payment was setup for direct debit.

    You will get interest applied on your next statement so watch out for that.

    In the past I have gottena way with this by pleading ignorance to the 2 working day rule. I simply told them that I sent the money on this date and as far as I'm concerned it was sent in time.

    For next year the banks have agreed to process BACS payments the same working day - finally.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.