MBNA Faster Payments

FannyHill

I have an MBNA credit card.
On the back of the statement it gives info about paying.

............
Tel/Internet Faster payment
Please allow up to 4 days for tel/internet payment.
Faster payment received Monday to Friday will be credited to your account the same day.
Payment will be seen on your online account next day.
..................


I have just made an online payment to my credit card so will it take 4 days or same day ?


Thanks.

tescomilk

I made a payment to a MBNA card last wednesday morning. It was actually credited to the account on Friday :beer: but didn't show up on the online account until Monday.

Not sure if the Bank transfer system would be faster or slower than a debit card payment tho.

FannyHill

I can't understand why all payments online or at the bank aren't instant.
It says if I pay at the bank allow four working days.
Do bank computers switch off at the weekend ?


I used my Maestro bank card to pay.

YorkshireBoy

FannyHill wrote: »

I have just made an online payment to my credit card so will it take 4 days or same day ?

I used my Maestro bank card to pay.

Didn't you see/read this message when it was presented to you (as soon as you clicked "debit card"?...

MBNA_online_payment_screen wrote:

Pay by Debit Card online

Payments taken before 5pm, Monday to Friday, will be credited to your credit card account in 2 business days.

Payments made after 5pm or on weekends or bank holidays will be credited to your account in 3 business days.

Payments made after 2:30pm on the last day of each month will take an extra day to be credited to your account.

In all cases, you will see your payment in Online Banking the day after it is credited to your account.

Do bank computers switch off at the weekend ?

BACS, FP, and debit card payment methods are all run on different systems, some of which do indeed shut down at weekends.

questionabout

I agree with FannyHill - its 2010 yet were still on 1900's banking systems where by only working days are recognised. Some people say well thats because the banks systems don't work at weekends etc bla bla ---- never mind making excuses for the banks. If the systems can't handle non working day payments then they should be upgraded instead of us just having to put up with it. Either that or do what PayPal do and charge a fee for instant payment. We already lose out on interest when the money leaves our savings/current account so why not just pay that interest charge fee upfront and at least the payment would be immediate and stop late charges :mad:

Capital one are much better than MBNA for payments. If I were to pay today by debit card it would be showing in my account by tomorrow :j

FannyHill

Well that's even more confusing because one says two business days on the online page and the back of my statement says

Making a payment

Faster payments received received Mon to Fri will be credited same business day.


So what is this "Faster Payments" and how do I know if I am using it or not ?

questionabout

I think MBNA are just over-cautious on the payment options. Everything on the back of the statement suggests allowing "within" or "before" 4 Working Days. Yet I've paid both on my debit card and even using a Giro credit slip and in both cases the payments have been credited within 2-3 working days.

In theory Faster Payments from most banks should arrive in their account sameday if done before 5pm but won't show on your MBNA online account until the next working day after.

FannyHill

questionabout wrote: »

I agree with FannyHill - its 2010 yet were still on 1900's banking systems where by only working days are recognised. Some people say well thats because the banks systems don't work at weekends etc bla bla ---- never mind making excuses for the banks. If the systems can't handle non working day payments then they should be upgraded instead of us just having to put up with it. Either that or do what PayPal do and charge a fee for instant payment. We already lose out on interest when the money leaves our savings/current account so why not just pay that interest charge fee upfront and at least the payment would be immediate and stop late charges :mad:

Capital one are much better than MBNA for payments. If I were to pay today by debit card it would be showing in my account by tomorrow :j

My payment date this month is 29 July.

I actually made a payment at the bank on Friday but it hasn't shown on my MBNA credit card online account yet.
I decided to make another payment online today just to be on the safe side as I don't want to incur any late or non payment charges from MBNA.


Another thing is

Years ago I remember getting my statement and I had about three weeks to pay.
Nowadays my statement seems to arrive about 5-7 days after the statement date and it has to be paid within the next 10 days after it's on my doorstep.

Now if I go into the bank and pay on a Friday
and the weekend doesn't count and it's up to four working days after I've paid the money in for them to receive it, it means I'm cutting things a bit neat.

YorkshireBoy

FannyHill wrote: »

So what is this "Faster Payments" and how do I know if I am using it or not ?

Who do you bank with?

FannyHill

Clydesdale Bank.

questionabout

Fannyhill you will be fine if you paid last Friday. :cool:

It will have already have been credited but won't show on your online account until the 4th working day so will be showing tomorrow. The mbna system is really slow at displaying transactions (even purchases) but it does know exactly when the payment is received.

If you sign up with your email address you can receive an email from MBNA the day your statement is produced so you can have a few extra days before you receive the paper version.