Calling all first direct customers!

jon_boy75

A_Flock_Of_Sheep wrote: »

A simple answer to this is to have enough money to cover automatic payments. You avoid the returned fees and the hit on your CRA file. If there is a risk a DD will bounce then just don't pay by this method.

you're missing the point

A_Flock_Of_Sheep

jon_boy75 wrote: »

you're missing the point

You'll probably find it in the T&C's of you account that they will share information with CRA's. You agreed to this when you opened the account.

jon_boy75

A_Flock_Of_Sheep wrote: »

You'll probably find it in the T&C's of you account that they will share information with CRA's. You agreed to this when you opened the account.

you're still missing the point

Let me elaborate. Lots of people have DDs, SOs or cheques returned for a variety of reasons:

• change in amounts, change in dates
• banking errors
• problems when switching accounts
• or simply customer errors/oversights

I am simply asking if other customers of the same bank get late payment markers for returned items, even if these are paid a few days later and the recipient considers it a payment on time.
Then I'm asking, who made these rules?

I fully understand reporting to CRAs for missed/late payments, or being overdrawn for months on end.

I did not allow first direct to share information on returned direct debits.

I pay everything on time, have done for many, many years. However, over the last year a few DDs have been returned for some of the reasons outlined above. I am questioning whether this happens to everyone else, to decide if I'm being treated differently...that is all.

jon_boy75

last call for first direct customers! any takers?

I will leave you all alone after this!

izools

Experian have rules outlined explaining what status codes mean on current accounts when the appear on your credit file:

http://www.experian.co.uk/downloads/consumer/YCREJul08.pdf

Any financial institution who uses experian to report and / or search is aware of these rules, so they know that a "1" against a current account doesn't mean "One Payment Late", but that it means that one of the three criteria mentioned in the Experian rulebook have been met by the account holder.

It is pages 14 and 15 you will want to read - this does in fact confirm no breach of DPA is taking place and no false information is being reported. Unfortunately for you, you did allow FD to share data on Standing Orders and Direct Debits being returned unpaid. Sorry

jon_boy75

izools wrote: »

Experian have rules outlined explaining what status codes mean on current accounts when the appear on your credit file:

http://www.experian.co.uk/downloads/consumer/YCREJul08.pdf

Any financial institution who uses experian to report and / or search is aware of these rules, so they know that a "1" against a current account doesn't mean "One Payment Late", but that it means that one of the three criteria mentioned in the Experian rulebook have been met by the account holder.

It is pages 14 and 15 you will want to read - this does in fact confirm no breach of DPA is taking place and no false information is being reported. Unfortunately for you, you did allow FD to share data on Standing Orders and Direct Debits being returned unpaid. Sorry

thanks izools

i think we're talking at cross-purposes here!
I understand what the CRAs version of the rules are. I'm not querying that in any way. I'm asking how widespread this is among first direct customers.
I'm also concerned with Equifax more than Experian, as they have 'late payment' as the marker and 'in arrears' as the status. Neither of these are accurate, so it is in breach of the DPA, in my view
I allowed credit information to be shared with the CRAs, not direct debit information to non-credit accounts.

Dr_Cuckoo3

jon_boy75 wrote: »

I'm asking how widespread this is among first direct customers.

it is widespread at First Direct

I'm surprised they don't mention it as a selling point since they appear to be the only bank offering this facility

jjhamil wrote: »

Just wondering if anyone else has experienced this?

I've just found out that if you have a bounced direct debit from a First Direct current account - even if you pay it the same day - they sent that to the credit reference agencies as a late payment, which flags up as a '1 / Warning' on your credit record.

The customer services woman has just cheerfully told me they are the only bank that do it and that their regime is 'harsher' than other banks.

Other banks don't do it unless the payment is a month late but FD do it even if you pay the bounced payment within the hour! Astonishing and a total rip off.

It must have hit tens of thousands of people ...

I only found out as they have placed SIX 'Late Payments' on my credit file, even though I have never not made a payment.

I am very angry and want to warn others.

A_Flock_Of_Sheep

To be fair I don't see what the issue is where FD is concerned. If you get a bounced item you pay a fee to them. It's a bit of a salt rub in the wound to not only charge but then place a negative marker as well. Talk about stab you and twist the knife.

I don't think I would go with First Direct on this basis even though I have never had any bounced items. There is always a first time.

Perhaps you should leave them and claim the £100 dissatisfaction fee?? If they still do this?

jon_boy75

Dr_Cuckoo3 wrote: »

it is widespread at First Direct

I'm surprised they don't mention it as a selling point since they appear to be the only bank offering this facility

thankyou! this is exactly what i was looking for

there are now 2 of us

viva la revolution!

I've left first direct, i'm just following it up retrospectively

jon_boy75

izools wrote: »

Experian have rules outlined explaining what status codes mean on current accounts when the appear on your credit file:

http://www.experian.co.uk/downloads/consumer/YCREJul08.pdf

Any financial institution who uses experian to report and / or search is aware of these rules, so they know that a "1" against a current account doesn't mean "One Payment Late", but that it means that one of the three criteria mentioned in the Experian rulebook have been met by the account holder.

It is pages 14 and 15 you will want to read - this does in fact confirm no breach of DPA is taking place and no false information is being reported. Unfortunately for you, you did allow FD to share data on Standing Orders and Direct Debits being returned unpaid. Sorry

izools, i refer you to your own post here
https://forums.moneysavingexpert.com/discussion/2347477