Default payment?

exel1966

Paul_Herring wrote: »

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

My points refer to the part you edited out ;-

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.

The fact you pay in cash (as previous post stated) over the counter with Lloyds TSB is very relevant as it will not take up to 3 working days to be credited, it will be credited immediately, whereas paying by any other means it will not.

McPete_2

exel1966 wrote: »

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 !

lol, I'm not going to argue with you

I didn't say you would get a late payment fee, or that it would get recorded as a late payment. I simply said it doesn't get credited stright away. Hence why it doesn't show on your statement's online for several days...It takes upto 48 business hours.

exel1966

McPete wrote: »

lol, I'm not going to argue with you

I didn't say you would get a late payment fee, or that it would get recorded as a late payment. I simply said it doesn't get credited stright away. Hence why it doesn't show on your statement's online for several days...It takes upto 48 business hours.

Don't suppose there is any point in splittings hairs which is what you've done. You disputed ,

Paying cash at the bank is never going to clear onto your card the same day,

that a payment can be made on the DUE DATE and still clear in time. It quite clearly can ! I provided other exmaples of where this occurs, yet again you disputed it,

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

you then go on to contradict yourself by saying,

I didn't say you would get a late payment fee, or that it would get recorded as a late payment. I simply said it doesn't get credited stright away. Hence why it doesn't show on your statement's online for several days...It takes upto 48 business hours.

which confirms the payment can be made on the DUE date, otherwise the charge would be forthcoming would it not ?

Just for info, the paying on the due date fact was advised to me by a senior manager at AMEX (Brighton) as were the other two examples both provided by staff within those organisations.

McPete_2

exel1966 wrote: »

which confirms the payment can be made on the DUE date, otherwise the charge would be forthcoming would it not ?

I really can't be bothered to argue this, you're clearly just going to argue with whatever anyone say but to answer that question, no, not necessarily.
I think the OP has got the answer he needs now, so I’m done posting here, you can argue with yourself now :rotfl:

exel1966

McPete wrote: »

I really can't be bothered to argue this, you're clearly just going to argue with whatever anyone say but to answer that question, no, not necessarily.
I think the OP has got the answer he needs now, so I’m done posting here, you can argue with yourself now :rotfl:

Fair enough, you've obviously can't back-up what you say and were just clutching at straws so we'll leave it at that ! :rotfl:

bert&ernie

Most credit card issuers will value date a cash payment using the date it was received. However, the transaction does not usually post to the account immediately - it may take until the next business day (it may take longer again to show on internet banking). There should be no float on cash payments as there is no risk to the issuer. If their processing delays result in a charge being applied, then I think you would have every right to get this reversed.

In November this year, the European Payment Services Directive will make it a legal obligation to value date credits no later than the business day on which they are received by the service provider. In fact, it may go further by requiring that the funds are made available to the customer "immediately" - wouldn't hold my breath on that one though!

HouseHuntr

It's wrong to suggest that you cannot pay on the required due date. I pay my Lloyds credit card on the due date each month with cash at my local branch and the transaction is cleared on the same day.
This month for example the due date was 9 April and it was paid in full at around 3pm that day with cash. My new statement confirms payment was received 9 April.
The other cards I can't comment because I don't have them, but wouldn't a debit card transaction over the phone be classed as a cash payment and operate the same way ?
I believe there's some confusion here over simple wording, credited and cleared.

bert&ernie

HouseHuntr wrote: »

It's wrong to suggest that you cannot pay on the required due date. I pay my Lloyds credit card on the due date each month with cash at my local branch and the transaction is cleared on the same day.
This month for example the due date was 9 April and it was paid in full at around 3pm that day with cash. My new statement confirms payment was received 9 April.
The other cards I can't comment because I don't have them, but wouldn't a debit card transaction over the phone be classed as a cash payment and operate the same way ?
I believe there's some confusion here over simple wording, credited and cleared.

I wouldn't expect a debit card payment to be classed exactly the same as cash - it has to clear and could be subject to fraud chargeback, so there is a risk to the issuer if they treated it as cash. That said, many companies will value date the payment on the day it was made.