Very.co.uk question

fozmcfc

Hi,

Hopefully you shoppers can help me and tell me how this works.

I've bought some BNPL items from Very without the P&P cost (which have to be paid upfront) they total £333.

I have been paying money into my very account for this and now have a balance of £333CR. The first one ending soon is for £198.

I assumed that when the BNPL payment was due, rather than take a direct debit from my bank account, they would just take the money off what I paid and therefore my balance on my very account would be £135CR (i.e. 333 - 198 = 135) and that would be that.

I've a feeling that I may have made a mistake and that isn't how it works and that they still will take £198 by direct debit from my bank and my account will still remain £333 in credit.

I know I have to ring them and tell them I want them to take the full BNPL amount, if I want to avoid interest.

But could someone clarify how it works in my sitaution.

Thanks.

sarah1972

fozmcfc wrote: »

Hi,

Hopefully you shoppers can help me and tell me how this works.

I've bought some BNPL items from Very without the P&P cost (which have to be paid upfront) they total £333.

I have been paying money into my very account for this and now have a balance of £333CR. The first one ending soon is for £198.

I assumed that when the BNPL payment was due, rather than take a direct debit from my bank account, they would just take the money off what I paid and therefore my balance on my very account would be £135CR (i.e. 333 - 198 = 135) and that would be that.

I've a feeling that I may have made a mistake and that isn't how it works and that they still will take £198 by direct debit from my bank and my account will still remain £333 in credit.

I know I have to ring them and tell them I want them to take the full BNPL amount, if I want to avoid interest.

But could someone clarify how it works in my sitaution.

Thanks.

I have been with Very for years and I always feel the best way is to not have your account on direct debit so in the event of any mistakes at least you are not out of pocket.

If your account is in credit then they shouldnt take anything from your account because you dont owe anything, well thats how I see it but why not call them just to be safe in your mind.

Kyresa

Make sure you tell them IN ADVANCE that you wish that money to go to (the particular product).

If you don't, they will take the money and they will charge you the interest for the BNPL period. Apparently you have to tell them BEFORE the transaction becomes chargeable to allocate the money.

I had a fight with Very for over a month over this exact issue. The money was there, but because I hadn't pointed out to them to use the money, they charged me the BNPL period interest. I did get the interest credited back, but always make sure I tell them to take the money in advance now!

(edit, just re-read the OP and see that you know you have to ring them in advance. Well, in your situation, they will just take that money, but they do it as soon as you tell them, don't leave it to the last minute for the reasons above!) If you have the credit balance, clear all the account, it's not gaining interest so no good to you holding off telling them.)

fozmcfc

Thanks for your replies, very useful.

My BNPL due date is in early September, so I assume I can just ask them to take full payment from my very account (not my bank account), to reduce my very account balance to £135CR.

Have I got that bit right?

If I have got it correct, can I also request they take the full payment for my other BNPL for £135, which is due first payment in March 2011. Or do I have to wait until February next year to pay the March one off.

I have no other purchases outstanding on the account, so if they can take both BNPL amounts now, I will have a £0 balance.

Thanks again for your help.:T

Kyresa

Just tell them to take the full balance now. Then you have a balance of 0.

fozmcfc

Thanks for your advice again.

Sounds like I was over complicating it, will give them a call tomorrow and ask them just to take full payments for everything, so I have a 0 balance.

mishkanorman

i got caught out the same way, in my mind if i have an account in credit and then owe them money it should just cancel itself out ?? apparently not !

fozmcfc

Well I'm hoping all is well.

Voice recongnition couldn't recognise my DOB, so said transferring to advisor. Get through going to have to pass you to someone else can't help.

Finally got through to them 16 minutes (probably someone will say that's good) and there system isn't working, so leave it with me and I will process it for you when it's back up.

So fingers crossed she will do that, let you know.

EDIT........Just checked my account online and it is showing as £0 balance, credit limit and available to spend, also showing my credit limit. So looks like it's been sorted.