Default payment?

salirip

I'm new to this board, so go easy with me, but I need some advise.

I payed my CC last month, by cash at my designated bank on the day I was supposed to pay it, that is, the last day, but I payed it.

I have since had a letter saying I am in default because the payment was not payed on time, and an extra amount of money has been deducted from my account as a result.

Is this right?

I know I took it to the line, but is this right?

McPete_2

Not quite sure what you mean by "an extra amount of money has been deducted from my account".

Are you saying they took the ammount due from one of your other accounts, or they charged you a late payment fee?

Either way, yes, they are right. Paying cash at the bank is never going to clear onto your card the same day, as I'm sure your statements and T&C advise...

U've_been_framed

I agree with McPete. My credit card bill states "payment to reach us by" and gives a date. It also advises when the last date to pay it in at the bank is. This is usually 4 working days before the first date.

Paul_Herring

I payed my CC last month, by cash at my designated bank on the day I was supposed to pay it, that is, the last day, but I payed it.

The date given on your statement is the date the payment should reach your CC provider - it's not a target for you to use when paying the bill.

It can take up to 3 working days for the payment to reach your provider. The fact you paid in cash has no relevance to the speed.

exel1966

McPete wrote: »

Either way, yes, they are right. Paying cash at the bank is never going to clear onto your card the same day, as I'm sure your statements and T&C advise...

Paul_Herring
It can take up to 3 working days for the payment to reach your provider. The fact you paid in cash has no relevance to the speed.

.........Unless you have a Lloyds TSB Amex Duo (ex Lloyds Plat) card and pay cash at a LLoyds TSB Branch where it will be immediately credited to the account, but take two days to show up online.

or you have an AMEX Platinum card which can be paid on the due date over the phone direct to AMEX by using a debit card, wherby it will be immediately credited, but take 2 days to show online.

or you have a MINT platinum card which can be paid on the due date over the phone direct to MINT by using a debit card, wherby it will be immediately credited, but take 2 days to show online.

I have no idea whether this works for other cards or not, but for these three it has done so for a number of years.

exel1966

salirip wrote: »

I'm new to this board, so go easy with me, but I need some advise.

I payed my CC last month, by cash at my designated bank on the day I was supposed to pay it, that is, the last day, but I payed it.

I have since had a letter saying I am in default because the payment was not payed on time, and an extra amount of money has been deducted from my account as a result.

Is this right?

I know I took it to the line, but is this right?

And the bank and the card were ? Designated bank ?

An extra amount couldn't have been deducted for paying late, but a late payment fee of £12 will almost certainley be added to next months statement. If it's a first time 'offence' you'll almost certainley be able to get it back by asking apologetically.

Paul_Herring

exel1966 wrote: »

Paul_Herring wrote:

It can take up to 3 working days for the payment to reach your provider. The fact you paid in cash has no relevance to the speed.

.........Unless you have a Lloyds TSB Amex Duo (ex Lloyds Plat) card and pay cash at a LLoyds TSB Branch where it will be immediately credited to the account, but take two days to show up online.
[snip]

Which part of "up to 3 days" do your points negate?

salirip

Thanks for the replies people, I guess you live and learn.

Yes, Excell, it was my first "offence", so I'll see what can be achieved by a little schmoozing.

Thanks again.

McPete_2

exel1966 wrote: »

or you have an AMEX Platinum card which can be paid on the due date over the phone direct to AMEX by using a debit card, wherby it will be immediately credited, but take 2 days to show online.

lol, I knew someone would manage to find examples of where you can...

but I know for a fact that's not the case with amex, as I work for them

mcmanlyn

I used to pay my halifax CC by cash at the counter on the last day & thankfully it always credited that day (as they proved to be totally useless at setting up a DD...)

exel1966

McPete wrote: »

lol, I knew someone would manage to find examples of where you can...

but I know for a fact that's not the case with amex, as I work for them

Then you either have no understanding of how their payment system works or you DON'T work for them. :rolleyes:

Having paid ON the due date by debit card over the phone and having for a number of years, NEVER received a late payment charge, nor missed payment marker I CAN assure you it is the case. Hardly surprising that AMEX will NOT advise their customers of this !

Rest assured I'll continue to pay this way knowing that I'm not paying my bill early so AMEX can sit on my money and earn interest from it. I'll leave that to the likes of the doubters, you !