bank lost my payment

roger570

hi there just wondering if anyone had advice
ltsb bank and lloyds tsb credit card
my credit card was due on the 29th june i payed £100 on the 24th june.
on the 7th july (thursday)i recivied a letter stating i had missed a payment.
took both letter and branch stamped statement with me to bank and they told me they would have to do a till sweep for that day and let me know on friday.got i call on friday saying they had found the money and and informed credit card services.
checked my online credit card statement today and found they have charged me £12 late fee .reduced my card limit by several thousand . removed my 0% rate and then took £83.86 min mayment from my bank .
called again today and was basically told it will take upto 10 days to sort out and if they find in there fault they will reinstate 0% ,credit limit and £12 late fee but i cant have my money that they took out of the bank as the min payment .
so i,m out of pocket for £83.86 this month for there mistake
cheers

johnllew

roger570 wrote: »

so i,m out of pocket for £83.86 for there mistake

Not really - you've just paid it sooner than you would have liked to. Your debt has still been reduced by £83.86 so you haven't lost the money.

roger570

i know i have'nt lost the money but it an extra £83 this month that i should'nt or could of doing without having to pay this month

Moggles_2

If you want an easy life, my advice would be to allow more time for your payment to clear in future.

The number of working days required is shown on site and on the back of your monthly statements. You should allow up to 4 working days (depending on your method of payment) for the funds to be credited to your card account.

On completion of its investigations, the bank has agreed to reinstate the 0% rate, restore your credit limit and refund your £12 late fee. What else were you hoping for?

I can't have the money they took out of the bank as the min payment. so I'm out of pocket for £83.86 for their mistake.

As above, this has been deducted from your cc balance. It's not your money. It's money you owe the bank. Okay you've repaid a month earlier than you anticipated. I suppose you could request a refund, but is it worth the hassle? You'd have to pay it back again in less than two weeks.

Might be an idea to set up a direct debit to pay the minimum amount. That way, it's LTSB's responsibility, not yours, to make sure the monthly repayments get there on time

roger570

quote:
The number of working days required is shown on site and on the back of your monthly statements. You should allow up to 4 working days (depending on your method of payment) for the funds to be credited to your card account.

i paid on the 24th not due to 29th and still not arrived by the 4 july i allowed enough time to clear
if i could have afforded to pay an extra £83 this month i would have paid it.
just think it wrong that i should have to suffer this month down to banks error if i got overdrawn i will get soon get overdrawn fees

Moggles_2

The only time this has happened to me, I paid over the counter at Barclays Bank and, like you, allowed three working days.

I reviewed my payment methods (there are better ways, IMO) and, except where a DD is set up, resolved to pay earlier. I've had no more problems.

If i could have afforded to pay an extra £83 this month. i would have paid it

Request a refund then. It's your choice really.
Let us know how you get on

P.S. Once sorted, I would check your credit reports before applying for further credit, just in case LloydsTsb has reported that "missed" payment.

Very best
M

Thomas_Crown

roger570, do as Moggles suggests & set up a direct debit for the minimum monthly payment. Also, arrange a small overdraft for up for £50 - £100 in case you go overdrawn at some point. Then you will not have to pay fees/bank charges.

moneysavingmarrow

roger570 wrote: »

i know i have'nt lost the money but it an extra £83 this month that i should'nt or could of doing without having to pay this month

Then ask them for the £100 back which they "lost"

jonesMUFCforever

The bank should not hold on to your £100 and the minimum fee of £80 odd which they have also taken.
Make an appointment to see the branch manager explain politely what has happened and they should contact card services to arrange a refund of one of these payments.
Just don't blame me when they will try to flog you a personal loan to cover the debt though - you have been warned.

roger570

i ve contacted bank manager he said its card services fault and card services say it branches fault so i guess i just going have to wait the 10 days and see how it turns out. it just seems there quick enough to charge you a fee if it's a problem your end .but there not interested when it's there at fault .
and yes they already offered me a loan to repaid the card but as the card was 0% i declined

jonesMUFCforever

roger570 wrote: »

i ve contacted bank manager he said its card services fault and card services say it branches fault so i guess i just going have to wait the 10 days and see how it turns out. it just seems there quick enough to charge you a fee if it's a problem your end .but there not interested when it's there at fault .
and yes they already offered me a loan to repaid the card but as the card was 0% i declined

If you paid £100 over counter and you have a receipt clearly showing this then it is the branch's fault.
They should immediately refund you and they should wait for the refund to clear its internal system.
Did you speak to a senior manager or a personal account manager (ie sales manager)?