Paying by direct debit

equitydealer

If you chose to pay off the full balance by direct debit when does the CC company take the money from your current account? Is it on the payment date or just before?

jonesMUFCforever

With my Egg money card they take full d/d on due date.

Bloke_with_a_simple_life

Suppose it could vary by issuer - I would recommend verifying with the companies themselves.

grumbler

Yes, it is different for different companies, but it is always shown in the bill when the payment will be collected by DD.

Milarky

Notwithstading the date of collection itself, remember to 'load' your bank account with sufficient funds at least one day prior to avoid your overdraft limit being exceeded by the call. Direct debits are collected overnight -and generally before other iterms - so any money paid into your account - even by transfer overnight - may not balance this out.

HGLTsuperstar

IIRC, they can collect it up to 5 days either side of the due date

pin

It will normally say on the statement when they will be taking out the DD (it does so on my Nationwide and MBNA cards).

djl

equitydealer wrote:

If you chose to pay off the full balance by direct debit when does the CC company take the money from your current account? Is it on the payment date or just before?

i have four cards on full payment dd they come out on the day due or just after never early :j