One day late

Stephen_Leak

Credit card DD due 21/7. Funds transferred 19/7. However, DD taken 18/7 (Sunday).

Can they do this?

Well, actually that's a rhetorical question. Of course they can. They're a credit card company, so are above the laws of the land and common decency.

exel1966

The card company is ?

What does it say exactly on your statement about the DD and the collection ? They all differ.

DD's cannot be taken on a Saturday/Sunday/Bank Hol, but they can be earmarked for collection on the first business day thereafter.

Stephen_Leak

Capital One.

I'm not sure what you mean by this. IIRC, "Direct Debit - Capital One".

I will have a word with them tomorrow, but I accept that, as a customer, I have to be punished for their impatience.

exel1966

I thought it was Capital One. Their statements clearly state the exact day funds will be taken which is usually 3 working days before the due date.

The terminology used is ; Your DD will be taken on or within 3 working days of **/**/10

Therefore the DD has been applied as per your agreement with them. It's absolutely correct, they've done nothing you weren't advised of.

Rupert_Bear

Stephen_Leak wrote: »

Credit card DD due 21/7. Funds transferred 19/7. However, DD taken 18/7 (Sunday).

Can they do this?

Well, actually that's a rhetorical question. Of course they can. They're a credit card company, so are above the laws of the land and common decency.

At least the payment was taken. Could have been worse and they did not take payment and you incurred a late fee. Also they then inform the respective credit reference agencies.

RobertoMoir

If credit cards allowed people to pay "a bit late" we'd just see people complaining that they should be allowed to pay "a bit more late".

Stephen_Leak

As has been said, the statement does say "Your DD ... will be taken on or within 3 working days of 18/07/10". The due date is quoted as 21/07/10 which, I suppose, is not inconsistent with this.

I accept that I could and should have started the funds transfer earlier. If you sail too close to the wind, you run the risk of capsizing.

Mind you, if they ever ask me my date of birth, I shall try to remember to answer, "On, or within 3 working days of, 10 June 1955".

TFD_2

Stephen_Leak wrote: »

Credit card DD due 21/7. Funds transferred 19/7. However, DD taken 18/7 (Sunday).

Can they do this?

Well, actually that's a rhetorical question. Of course they can. They're a credit card company, so are above the laws of the land and common decency.

It's not really a lack of decency if they've advised they're taking payment on the 18th, and then try to do so.

YorkshireBoy

Stephen_Leak wrote: »

However, DD taken 18/7 (Sunday).

The DD wasn't "taken" on the 18th, a Sunday. DDs are not collected on non bank working days.

The funds were simply earmarked so reduced your 'available' balance, because your bank knew the DD was pending for the 19th, and they still acted to earn credit interest/reduce debit interest (depending on your circumstances) until Monday.

Just out of interest, is this a new Capital One account? If not, have previous DDs been collected in this way...ie "within 3 days" prior?

DizzleUK

I believe this screen capture from my Capital One statement will clear this up nicely...



As you can see, my payment due date is 9th August. I have a Direct Debit set up to cover the minimum payment. This, quite clearly, will be taken on 6th August (or within 3 working days).

There is no ambiguity on my statement regarding when my money will be taken from my account.

Stephen_Leak

You're not wrong. I've not noticed that until now, but it was never "mission critical" until now. Ignorance is no defence, and a lesson has been learned. If someone else benefits from my experience then balance will be restored to the universe. My Excel spreadsheet cell for my credit card payment dates now has a comment to the effect to use the earlier DD date, not the due date. And I might arrange any funds transfer 10 calendar days before this, instead of a calendar week.

In fact the "culprits" seem to be the savings account provider, who seem to have taken 3 working days just to initiate the funds transfer, which is still in the system somewhere.

My current account provider (Halifax), quite rightly, couldn't pay out funds that weren't in the account. In fact, it was they who advised me that the DD had been attempted, when I rang them to enquire about the overdue transfer.

By the way, Capital One's online records clearly date the Direct Debit as being on the 18th, a Sunday. I have taken a screen print, just in case.