Why did i bother?

gilly41

Hi
I am on a payment plan with Capital one- £81 a month for 4 months- 1st payment to be received by the 16th February. I paid it on Friday at my bank in cash- my bank is the HSBC and so is capital ones!I have rung cap one today to see if they have received it- and no they havent!!
If they havent received it by Thursday(16th) the plan will be cancelled and they will start me on a new plan.
I am soooo annoyed- now i might or might not(depending on whether they receive it or not!!) get late payment and over payment charges again!!! So £40 of my hard earned £81 will just go to them in fees!!!When i rang them the other day they assured me that it only takes 4 days to reach them!!!
Awww dont know why i am bothering trying to pay it off- i take a step forward and then 2 steps back. All hubby says is dont get stressed!!!!
xx

melancholly

it'll be 4 working days so should arrive on thurs...... it should get there if you paid it on friday.
don't stress too much before thursday.....!

Bokken_2

Try no to get too up tight,youve just made a payment and thats the main thing your on your way to debt freedom!
It is hard but it gets easier.
Check with the bank again if it will make you feel better,but it should arrive in time.

gilly41

Hi
Thanks for the replies- sorry meant to add that they told me today it usually takes 5 working days(making it 17th)- after telling me 4 the other!!!
xx

Bokken_2

just treat this experience as a learning experience and then try and do better next time.
I usually try an avoid payments on a Friday as they get caught in the Weekend/monday delay.
Try and pay a day earlier if you can.
good luck

southernscouser

Hi gilly!

Can you set up a direct debit for this payment plan? No risk of late fees that way!

And have one of these on me to cheer you up! :kisses3:

jobbingmusician

I can't understand why it should take so long when the OP has paid in cash!!! :grrr

moongarden

if you paid it into THEIR account in CASH then it doesn't take 4-5 days to clear, surely?

gilly41

Hi
That is exactly what i thought! I am with the HSBC and Capital Ones bank is HSBC so I thought that if I paid in Friday(even thought they had told me 4 days which would take it to the 16th) it should be in their bank by Tuesday. I paid in cash too!!But it obviously doenst work like that!
xx

steve_r123

The banks hold the payments up for 4/5 or so days, as it is earning them interest!

It is really annoying, especially in these days of online instant payments etc etc, but it is a considerable source of income for the banks by holding on to your money.....

I take it you have proof of payment with the date stamp on it, in case of Capital One questioning you?

Chin up

gilly41

Hi
Yes I do have proof of payment- stamped the 10th Feb- I thought it would be something to do with the Bank holding on to the money to make interest!!!
xx