Vanquis min payment

solentboy

Hi,
I have just been charged £12 for a returned min payment from vanquis bank, plus £15 from co-op bank for insufficent funds in my account when d/d was requested from VB.

The min payment had to be cleared funds in their account by 04/04 (monday), so as I had only just opened the a/c, and was worried that the payment (d/d was set up for 4/4) might not hit the account on time I paid an amount to cover the min payment by debit card the previous week, which showed up as cleared funds on my vb a/c on the 1/4.

I got a letter from Coop bank saying that vb had tried to take the funds anyway and as insufficent funds in my a/c they are charging me £15.

I called vb to expalin that as my dd was set up to take the minimum payment due, then they should not have asked my bank for any amount (as they had already received cleared funds over the amount of min payment, before they tried to take dd)

I was told that they would always take min payment d/d and that 'most people pay extra funds' into a/c so they just class any other payments as extra (not agreed min). Therefore, THEY were also charging me £12 for the fee my bank had charged them in failing to collect d/d.(spoke to supervisor who said same)

I have confirmed with my bank that they do not charge the company requesting the funds if the payment fails due to insufficent funds. My bank also said that I should speak to financial ombudsman as dd is covered by dd mandate is covered by guarentee. FO said they would make a complaint on my behalf but could not offer advice, referred me to FSA, who said not them, I should speak to trading standards..

I am trying to re build my credit, so don't really want to escalate to those levels, just take a more gentle approach; maybe try to write to them and make them see sense? (At least would seem this is wrong imo) as I need the card for credit rebuild. Or is this just one of those things I'll have to take on the chin if I want to keep the card.

Any helpful comments appreciated.

Tixy

A lot of credit card companies do this - and it should state on your statement that they will take the DD regardless of what payments you make before that date - its in the T&C of the account I think. Even if vanquis didn't operate like this (which they do) given that the 2nd and 3rd of April were not working days then its likely that vanquis would have already requested the DD payment from your bank prior to receiving your cleared payment to your account on 01/04. (Dds are often put in motion 2-3 days before the actual payment is deducted from your account).

I don't think you'll get anywhere trying to complain about this.

solentboy

ok, thanks for that. Sounds like I should have just left the money in my account for them to take then, expensive mistake!
what about the £12 they say my bank charged them for not paying dd? even though i paid min amount already?

Tixy

Ae vanquis trying to charge you £12 or 2 lots of £12?
If its one charge of £12 then they are entitled to do so. If its 2 lots then maybe write to them for an explanation of what the 2 charges relate to (so you can check if its in accordance with teh T&C).

YorkshireBoy

solentboy wrote: »

what about the £12 they say my bank charged them for not paying dd?

Your bank will not charge Vanquis, merely refuse them the money.

That's not to say Vanquis haven't incurred some costs in all of this. Whether they've incurred £12 is debatable!

When other providers have done the same (as reported on here), the lender has agreed to waive the 'returned payment' fee. Ask Vanquis (in writing) for some goodwill.

And remember...if your statement says the payment will be collected by DD it will be!

solentboy

hi tixy, no just 1x £12.