GE Credit card and Fast payment Scheme

janehp

Word of warning
I’ve just been charged a late payment fee by GE Money who administer my House of Fraser credit card. This occurred as I made my payment from FD to LLoydsTSB (Sort code used by GE for payment = LloydsTSB) in the belief that the fast payment scheme applied. Both FD and Lloyds have signed up to the scheme.

I contacted FD who confirmed my payment was received by Lloyds on the same day. I spoke to Lloyds who said it wasn’t down to them and it may be due to GE not applying the payment to the credit card account. I contacted the credit card helpline who informed me I should allow 4 working days for payment to arrive, I explained it was in their bank account by the due date so why was it not credited to my account the same day, the answer was “You should allow 4 working days for payment to arrive” Every question I asked the response was the same (The helpline are obviously well trained in the art of the ‘broken record’ technique!):mad:

The upshot of this is that not only do GE Money make money from interest on outstanding balances and late payment charges but also on the money we pay them which is held in an account for 3 days!

FD also informed me that while the dates in their online banking screens show the payment being received the same day they have a statement on the screen saying the transfer may take up to 4 days and that they had added this as some customers had experienced problems with the recipient crediting the money at the other end. (Teach me to read the small print)

I’ve learnt my lesson, from now on I will allow 4 working days for bill payments as I did in the good old days of BACS!

anotherpaul_2

It would probably be worth writting them a letter anyway, pointing out that the money was in their account on the day it was due. You may or may not get a different answer.

ch3tzy

After having the account for more than a year...
some how my direct debit was cancelled. And I was charged £12 late payment fee's

I called up House of Fraiser , spoke to Sweenie (if thats her real name) in India..
ARGHHHH.. she was as useful as a glass hammer.. Asked to speak to a manager got transferred to a UK call centre (Newcastle) Yipii.. He cancelled the late payment and took payment and new direct debit...

Ok Rant Over...

One Question tho, will this show up on my report..I have never missed a payment in my life..