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MBNA revokes 0% and sets £92 charges because a bank holiday delayed my standing order

I have a 24 hour fast payment standing order set up with MBNA from my bank. Payments are due on the 5th and my instructions take place on the 2nd.

Due to Good Friday being on the 2nd, payments were delayed in the banking process until the 6th.

Now I've had £92 charges, lost my 0% and have at least £80 interest every month.

MBNA won't listen :mad:

Is it really right and just that a bank holiday which delays everything is used so badly by MBNA to gain charges and stop deals? What can I do?
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Comments

  • unfortunately it is your responsibility to ensure payment gets there on time, thats why DD is the best option rather than SO.
    If you set up a DD and something happens to its payment as long as you didnt cancel the DD or had insufficient funds in your account you can always argue as its a DD

    I would personally write in to the complaints dept and explain the circumstances, and offer to set up a DD instead of SO

    ETA. I always (if making payment via any other method than DD) give 5 working days for payment to get to the company involved. It will usually state on your statements etc that payment may take 5 days to process.
  • Why is it called 24 hour fast payment if it takes 4 days?????
  • Rupert_Bear
    Rupert_Bear Posts: 1,303 Forumite
    Scottie20 wrote: »
    I have a 24 hour fast payment standing order set up with MBNA from my bank. Payments are due on the 5th and my instructions take place on the 2nd.

    Due to Good Friday being on the 2nd, payments were delayed in the banking process until the 6th.

    Now I've had £92 charges, lost my 0% and have at least £80 interest every month.

    MBNA won't listen :mad:

    Is it really right and just that a bank holiday which delays everything is used so badly by MBNA to gain charges and stop deals? What can I do?


    Sorry to hear the bad news but the easy thing to do is set a a direct debit. However I would suggest you phone them back and say you are willing to set a a dd and ask them again if they will reinstate your promo deal.
  • It will not include NON BANKING days, such as Good Friday, Easter bank holiday Monday.

    If you had done a simple faster payment it should have been available to the recieveing company almost instantly. I did several faster payment single transactions good friday to my oh amd mum and the funds arrived in a matter of minutes. Obviously a SO is different given what you are saying. The only SO i have set up are to my savings and my sons savings as it doesnt matter when the money hits.

    As i say, all i can suggest it to write to the complaints dept and explain the situation, and hope they will give you the 0% back, if this is a '1st offence' they may well re-instate your rate. I doubt that the call centre staff have the authority or inclination to do it for you.
  • WTTM
    WTTM Posts: 177 Forumite
    It's your own fault - you can't really blame MBNA for you not arranging to pay in time.


    MOMENT :D
  • CannyJock
    CannyJock Posts: 3,838 Forumite
    1,000 Posts Combo Breaker
    Scottie20 wrote: »
    Why is it called 24 hour fast payment if it takes 4 days?????

    Why is it called a bank holiday when the bank computers don't take any time off?

    Lesson learned?

    DD setup now?
    "A child of five could understand this. Fetch me a child of five." - Groucho Marx
  • ElkyElky
    ElkyElky Posts: 2,459 Forumite
    Scottie20 wrote: »
    Why is it called 24 hour fast payment if it takes 4 days?????

    Just a quick note.. all banks clearly state "faster payments are usually sent within 2 hours however this is *NOT* guaranteed" within their terms and conditions.

    Let me emphasise the part which you should pay much attention to:

    "NOT GUARANTEED"
    We’ve had to remove your signature. Please check the Forum Rules if you’re unsure why it’s been removed and, if still unsure, email forumteam@moneysavingexpert.com
  • Strangely enough I can read, so quotes in capitals are unnecessary! I want advice! I can also follow MBNA advice that Fast Track SO's are a good idea. Thanks to all who said phone/write. After phoning I'm pleased that the 0% is back, I'll be doing a DD and a letter has been written.
  • WTTM wrote: »
    It's your own fault - you can't really blame MBNA for you not arranging to pay in time.


    MOMENT :D


    Thanks Moment but do read this....
    Don't be so humble - you are not that great. -- Golda Meir
  • dmg24
    dmg24 Posts: 33,920 Forumite
    10,000 Posts
    Why are you writing to them? I am sure they have accepted the apology you gave over the phone!
    Gone ... or have I?
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