Amazon/MBNA/Bank Of America late payment charges for "non-working day" due dates

Dabooka

chattychappy wrote: »

Nice to know the "should have signed a DD squad" is on patrol... didn't even hear the sirens this time!

Sure, just for the record.. no need to pay by DD... they are for sissies.. (...and often go wrong and/or confuse people anyway....) Just send the money on time...

:rotfl::rotfl::rotfl:

With my memory it's an essential requirement!

Still, can't help but think it would've solved this problem and so many more.....

Biggles

YorkshireBoy wrote: »

But wouldn't that make it 'late'? The MBNA debit card timescales on their website payment screen state to allow 2-3 working days, depending on the day/time you initiate the payment.

Hmm, actually it does look like that. Most businesses treat debit card payments as cleared funds immediately, I can't understand why MBNA shouldn't.

nomoneytoday

Biggles wrote: »

Hmm, actually it does look like that. Most businesses treat debit card payments as cleared funds immediately, I can't understand why MBNA shouldn't.

Because the bank isn't open at weekends, so the funds are with them as available to lend or spend.

Rupert_Bear

chattychappy wrote: »

Nice to know the "should have signed a DD squad" is on patrol... didn't even hear the sirens this time!

Sure, just for the record.. no need to pay by DD... they are for sissies.. (...and often go wrong and/or confuse people anyway....) Just send the money on time...

I know we get this time and time about about setting up a dd but you have to admit if the OP has done this just for the min payment it would have saved alot of trouble.

With me I set up a dd for the min amount and if I so chose will pay extra amounts via my debit card on their website. However reluctant to do that as all my balances are usually promo deals.

dtsazza

It seems like the clearest solution to this problem would be for the banks/CC companies not to use due dates on which they're not prepared to accept the money.

If the "real" due date is Sunday 27th, but they're not open on Saturday or Sunday, it would avoid a lot of ambiguity if they showed a due date for that statement of Friday 25th.

Of course, if they've stated that payments are due "on the 27th of every month" that's a bit trickier to solve, and even printing a Friday date on the March statement could still lead to this problem if the customer remembers the general case. Perhaps they should state "on the business day on or preceding the 27th of each month"?

callum9999

nomoneytoday wrote: »

The money wouldn't hit their bank account until a working day.
If you have faster payments, then the funds should be released on the working day preceding the due date IMHO

Why not? When I do faster payments between my own accounts, the money is transferred instantly - whether it's in banking hours or on banking days or not. There's no reason why it shouldn't be the same for them.

While them taking the late fee in the first place isn't hugely out of order (though they have no argument if you request it back) - they should make clear how much time they need to process it. If the statement states you have to pay by a certain day, and you do pay on that day and they receive it, they have no recourse.

Degenerate

chattychappy wrote: »

I'm with the OP.

If you can establish that your payment was received (for value) into the CC's bank account on the due date, then you've made it. It's reached them.

This is unless they say something (which could be unfair) to the effect that it won't be credited to your account until a later time.

Saying "allow X days for your payment to reach us" doesn't let them off the hook if you didn't allow that long, but nevertheless it did reach them.

I've found Barclaycard often backdates their received date to before I even sent the money if I send on a bank holiday.

Agreed. There's an issue of consistency here on MBNA's part:

- MBNA accept faster payments.
- Faster payments is a 24/7 system.
- MBNA are a 24/7 operation.
- MBNA set payment due dates on weekends.
- So why do they credit payments immediately on working days, but not weekends?

chattychappy

Rupert_Bear wrote: »

I know we get this time and time about about setting up a dd but you have to admit if the OP has done this just for the min payment it would have saved alot of trouble.

Yep, happy to admit that. But it is also true that if the OP had sent a manual payment earlier, trouble would also have been saved.

I personally allow margins so that I don't have to have avoidable battles. In this case, the OP is where (s)he is, so is entitled to complain (IMHO).

Biggles

nomoneytoday wrote: »

Because the bank isn't open at weekends, so the funds are with them as available to lend or spend.

It doesn't matter with debits cards, the money is earmarked for the transaction instantly.

If you pay with a debit card at Tesco, you don't have them saying, "You can't take the goods today because the bank isn't open".

chattychappy

Biggles wrote: »

It doesn't matter with debits cards, the money is earmarked for the transaction instantly.

If you pay with a debit card at Tesco, you don't have them saying, "You can't take the goods today because the bank isn't open".

Actually I think debit cards are different. Tesco will release the goods because they know they will get their money. That's not the same as saying they've got it.

Certainly when my business took credit/debit cards, we didn't receive the money until the next day (at the earliest).