Possible Redundancy - 0% BT Now?

chattychappy

I'm certainly with NickX. I don't like DD's on principle, and can manage my affairs without them. I've never missed a payment (though it will probably happen one day) and am always aware of my what I have due and when. (Running 5 cards at the moment.)

They encourage lazy consumerism as people lose touch with what they are really paying for things. No wonder suppliers of utilities love to get people signed up to them. Salaries get tax deducted at source, what's left is transferred into bank accounts and DD'd out, VAT is rolled into displayed pricing. People pay a heavy price for all this convenience. Hopefully people on this board are more aware.

But judging by the number of grumblings about the perils of forgotten payments, I can see where CannyJock is coming from.

Rant over!

VikkiB

CannyJock wrote: »

Nooooooooooo........

Direct debit.

Please. For the sake of my sanity. Pay the minimum by direct debit. Then do a standing order for any extra if you want to.

Aaaah, I would set up a direct debit if the payment was coming from OH's bank account but as I will be making the payments from my bank account and the card is in OH's name I can't set up DD.

Due to OH having head in sand syndrome when it comes to finances the only way I could persuade him to do a 0% balance transfer in the first place was if I dealt with it all (It saving us over £1k in interest payments in one year was not a good enough argument - there is NO logic when it comes to head in the sand syndrome!!!)

I'll do what I did with the Capital One card we are transferring from which is to pay the first couple of bills by doing a manual transfer and then set up a standing order for £120 which will more than cover the minimum payment and make sure it's set up for at least 10 days prior to the statement date.

It's not ideal but been fine so far and never missed a payment yet! :cool:

YorkshireBoy

VikkiB wrote: »

...as I will be making the payments from my bank account and the card is in OH's name I can't set up DD.

Is that an assumption, or have you been told that's the case?

I'll do what I did with the Capital One card we are transferring from which is to pay the first couple of bills by doing a manual transfer and then set up a standing order for £120 which will more than cover the minimum payment and make sure it's set up for at least 10 days prior to the statement date.

You forgot to say you'd also promptly check your statements each month, both online (because it'll be there first) and the paper one when it arrives, to ensure you know quickly if they've changed your payment due date.

Say you'll do that...and put CJ's mind at ease.

VikkiB

YorkshireBoy wrote: »

Is that an assumption, or have you been told that's the case?

I was told it was the case on the Capital One Card but have to confess I, therefore, assumed it would be with Virgin but I'll definitely check!

YorkshireBoy wrote: »

You forgot to say you'd also promptly check your statements each month, both online (because it'll be there first) and the paper one when it arrives, to ensure you know quickly if they've changed your payment due date.

Say you'll do that...and put CJ's mind at ease.

I solemnly promise.


No, seriously, I will do that! Reminder will be set on my web based email, outlook and phone to remind me to check every month when the on line statement becomes available. I may even be bold and bring in the aid of post it notes too!

moneysavingmarrow

NickX wrote: »

I know I'm Special Canny

Direct Debits just don't suit me - I like to control each transaction rather than giving others access to my funds.

QUOTE]


I find this quite a ridicoulous stance to take.

Given the chance, You would control a payment that would be no less than the minimum amount due by the date due, would you not?
Therefore it must follow that a dd can be taken as your instruction to do just that.
You must know when and how much is due, even if you pay by any other method, therefore you ensure that you have the funds in the correct place at the correct time to pay by that other method surely.

In my expierience, dd's for the minimum amount due are taken from my account on the due date that is stated on the bills I receive and not before!
I consider I am very much in control, by putting the responsibility of payment onto the shoulders of the people who want the dosh.
The times I have been in a state of panic because I have got very close to missing payments due to bank holidays catching me out and internet bank facility being unavailable convinced me that there is an easier way to stay on the straight and narrow and "have a life".
I can also make overpayments to cc accounts, online, anytime I wish!
Total control!!!!

Seemples. Tsch!:rotfl:

I can also cancel a dd instruction any time I wish!!

NickX

moneysavingmarrow wrote: »

Given the chance, You would control a payment that would be no less than the minimum amount due by the date due, would you not?

Definitely YES.

As explained above I do not necessarily want payments to come from a single bank account. Although I will usually only make the Minimum Payment this is not 100% always the case - it could be a Full Balance payment or a part payment between the Minimum and the Full Balance. I may even want to pay by a BACS transfer from one of my business accounts.

My finances are not typical, and for me I like full control.

moneysavingmarrow

NickX wrote: »

Definitely YES.

As explained above I do not necessarily want payments to come from a single bank account. Although I will usually only make the Minimum Payment this is not 100% always the case - it could be a Full Balance payment or a part payment between the Minimum and the Full Balance. I may even want to pay by a BACS transfer from one of my business accounts.

My finances are not typical, and for me I like full control.

Then I apologise for branding your method as ridicoulous.
You are obviously well in control of what you do.

However, just to dismiss the dd thing out of hand for no reason, when it is such a usefull tool to use, is another thing altogether.

NickX

NickX wrote: »

However, I see why CannyJock is keen to promote the Direct Debit option. Everyday there are several posts from people who have run into trouble because they inadvertently forgot to make a payment.

No need to apologise, however I have not dismissed the Direct Debit option out of hand. Indeed I have acknowledged several times that the advice on this in the main is for the benefit of the customer.

Already this morning CannyJock has pointed out to 2 people that problems could have been avoided if Direct Debits had been set up.

They clearly are helpful for many people, I just prefer to operate in a different way.

CannyJock

moneysavingmarrow wrote: »

NickX wrote: »

Direct Debits just don't suit me - I like to control each transaction rather than giving others access to my funds.

I find this quite a ridicoulous stance to take.

Nick's a long-time stoozer, he'd get banned from the stoozing site if he fluffed a payment to a credit card

Direct debit is the safety net for people who
1. go on holiday
2. have a postal failure
3. have their payment due date changed.
4. have loads cards to juggle and prefer it to be done automatically

Nick will
1. never go on holiday anywhere that doesn't have internet access
2. deal with his cards online as soon as the statement appears (remember you can setup forward-dated payments in online banking)
3. deal with each payment for each statement as it arises
4. happily juggle these himself because he's paying from different accounts each month

The one tip for setting up direct debits which somene's already mentioned today is making sure that the DD is in place on time. I set mine up during the activation call if it's not part of the application process, and then call back to confirm it's in place before the first statement - after the first one it's self-managing.

NickX

CannyJock wrote: »

Nick's a long-time stoozer, he'd get banned from the stoozing site if he fluffed a payment to a credit card
Nick will
1. never go on holiday anywhere that doesn't have internet access
2. deal with his cards online as soon as the statement appears (remember you can setup forward-dated payments in online banking)
3. deal with each payment for each statement as it arises
4. happily juggle these himself because he's paying from different accounts each month

Pretty much spot on - I usually check all my accounts first thing in the morning before logging on here or the stoozing site (opps meant before starting work), so am in full control even if a little sad.

Almost had a crisis situation last year when stayed in a hotel abroad where the wireless facility had failed - not too much of a problem in the end as there was an internet cafe next door.