Advice please

milfordmadness

_bacs.co.uk wrote:

If any payment is made in error, you should contact your bank or building society who are responsible for giving you a full and immediate refund - even if the original error was made by the organisation collecting the payment.

Click here to read the FAQ section! Bacs.co.uk

Fred_Bear_2

milfordmadness wrote: »

No, read other post I told you what needs to be done! You ring and pay using card!

But it's too late for that. Today is the DD day i.e. the last day for payment to be received. Payment by card won't be received today.

milfordmadness

Fred_Bear wrote: »

But it's too late for that. Today is the DD day i.e. the last day for payment to be received. Payment by card won't be received today.

Yes it will be fine - as far as things go payment has been received, the £4k (that is why hsbc say to ring back in 2days cos your account is in credit but can still be reversed which you may have to do - thus they have this protection otherwise you could get double the cash back lol). So you make sure you have the minimum (assuming 5% £200) and ring today and pay this as extra payment to your credit card. They may refuse it, so what! Just say you making a purchase and want to pay an extra £200 (or do it using automated process) BUT make sure you have got in touch with A&L requesting refund before you pay even more lol

You arent answering whether you need the £4k back, if so why for a month? cheaper to pay off debt than any savings you'll make isn't it? If you're going to pay it off in a month why not leave it? Lot of carry on for something you'll do in 3.5wks anyway!

Fred_Bear_2

milfordmadness wrote: »

You arent answering whether you need the £4k back, if so why for a month? cheaper to pay off debt than any savings you'll make isn't it? If you're going to pay it off in a month why not leave it? Lot of carry on for something you'll do in 3.5wks anyway!

No I don't need the £4K back because I was going to pay the CC off next month anyway. The problem is that the DD has caused my A&L current account to go overdrawn and liable for charges.

milfordmadness

Fred_Bear wrote: »

No I don't need the £4K back because I was going to pay the CC off next month anyway. The problem is that the DD has caused my A&L current account to go overdrawn and liable for charges.

I explained this, for the 5mins you cannot be charged. They cannot break down 5 mins of charges..... to be honest i've also explained this - read further up! If you calm down and read what i've suggested you'll see there is nothing to worry about - nothing at all. You will not get charged as credits always supercede debits, so what if you went o/d - you went straight back into credit. If they do charge you then complain, or look at it as learning curve.

smartpicture

Did you check your balance the day before too? ie you say you were overdrawn at 00.03am, then transferred money so you were only overdrawn for 5mins, but could you have been showing as overdrawn on the previous day too, but you didn't go online to check that day? In which case you would indeed get charges.

Fred_Bear_2

No, I was in credit the day before. On Mondays A&L update their accounts at 12.00 midnight (i.e. Sunday night). A&L are not very good at showing correct balances. Telephone banking says my present balance is £824.61 which was my actual balance last Friday. The website shows 3 different figures: 1) £3187.08 overdrawn which is £824.61 less the DD of £4011.69. 2) £4824.61 which is £824.61 plus £4000.00.3) £812.92 which is £824.61 plus £4000 less the DD of £4011.69. Tomorrow it should become clearer I hope.

Mikeyorks

Fred_Bear wrote: »

Or is there, in law, a minimum notice period which they are not able go below?

No ..... except they need to give you reasonable notice of variation ('initiated from their side') and which is generally recognised to be 10 days.

But all DD Mandates are for 'variable' amounts. So they didn't need to ask for a fresh mandate ..... other than that their internal policies possibly require this, if you switch from minimum to maximum? But certainly they didn't need a fresh mandate to accord with the DD scheme.

But as you are the one who initiated the revise .... I think they will countermand any claim you might make under the DD guarantee? If you had the £4k withdrawn today - then they initiated that on the 11th or 12th (as DDs are still via BACS). Which strongly suggests the variation was from your 'phone call (and which created the 10 days notice?) ... and not from the mandate. Whilst they may have had that by the 11th/12th ... my experience of managing a DD system is that paper revises take several days to key onto the system.

sparkey1

Hi there. At the end of the day you asked for the the full amount to be paid and it has, so I wouldn't bother about DDebit guarentees. I think you will find that they are in their rights to take the full amount as you asked them to. Remember the Direct Debit was already set up and you told them to take the full payment.

Other thing to consider is the intest that you are going to be charged for not repaying the credit card if you went for the minimum amount option. (I could be misreading this but I assume money needed to be paid in full this month not next)

Alliance and Leicester will charge you for going overdrawn for five minutes. I know they have done it to me. There will be no interest but there will be a fixed sum. (I think its £5 although it might be £25 )

You will need to complain. It was only when I attempted to close my account on the 2nd call that customer relations intervened and refunded the charges. Watch them!

sparkey1

At the end of the day you asked for the the full amount to be paid and it has, so I wouldn't bother about Direct Debit guarentees. I think you will find that they are in their rights to take the full amount as you asked them to. Remember the Direct Debit was already set up and you told them to take the full payment.

Other thing to consider is the intest that you are going to be charged for not repaying the credit card if you went for the minimum amount option. (I could be misreading this but I assume money needed to be paid in full this month not next)

Alliance and Leicester will charge you for going overdrawn for five minutes. I know they have done it to me. There will be no interest but there will be a fixed sum. (I think its £5 although it might be £25). This is automatic.

You will need to complain. It was only when I attempted to close my account on the 2nd call that customer relations intervened and refunded the charges. Watch them!