Natwest CC Statement Date - statement generated in the morning or evening?

firsttimestudent

Hi,

I have a Natwest Platinum card. My statement date is 26 January 2011. Does anybody know if the statement is usually generated early morning 26 January... or evening 26 January?

Reason is I want to know if a Faster Payment on 26 January (say 2pm) will count as the new statement's payment, or the previous statement's.

Thanks!

YorkshireBoy

Statements are closed off at the end of the working day (assume 23:59), and credits* are processed at the start of the working day (assume 00.01).

I'd avoid same day transfers if I was you.


* Does the NatWest card accept FPs? If they do, when do they show them on the account?...same day or next day but backdated?

firsttimestudent

Thanks YorkshireBoy.

Does your experience about 'closed off at the end of the working day' apply for Natwest Credit Cards, or just other cards in general?

Yes Natwest accepts FPs. On the day when you make a FP into it (day 0), you will see your 'available balance' in Natwest Credit Card services change immediately. The transaction appears the next day (day +1) on the 'recent transactions' - but on the transaction list the date stated is day 0. On the paper statement, it says the 'transaction date' and 'recorded date' as both day 0. Just curious why did you ask?

YorkshireBoy

firsttimestudent wrote: »

Does your experience about 'closed off at the end of the working day' apply for Natwest Credit Cards, or just other cards in general?

Never had a NatWest card, but every other purchase card I've had has operated like that...it's the way finance works. Take, for example, your current and savings accounts...you earn interest each day on that day's 'closing balance'.

Just curious why did you ask?

Just out of interest to see if it was the same as other cards.


EDIT: There have been many, many, posts on here (about many different card providers) with people reporting paying on the statement date itself and then incurring a late payment fee the following month because they paid too early.

firsttimestudent

Thanks!

I mistakenly made a purchase on my card, the 0% BT ends 26 Jan 2012, but the 0% purchase offer ends on 26 Jan 2011.

Hence the desire to wait for everything to be 'statemented' and then paying off the purchase immediately!

If I pay on 27 Jan 2011 for the 'purchase amount', is it going to be NO interest (I guess the 'purchase' amount on 27 Jan 2011 is 0 if I make the payment that morning), or minimal interest? More academic than anything else!

YorkshireBoy

Any interest charged will be minimal, if my understanding is correct.

firsttimestudent

Thanks! Will report a month later, just in case anybody is interested in this!