Barclaycard: paid statement balance early

book12

Thought I would make a new thread since it's a different topic to the one I made yesterday.

Previous to my thread (https://forums.moneysavingexpert.com/discussion/3327798), I made a manual payment (paid in full, instead of minimum payment), as the payment hasn't been taken out of my bank account. The Barclaycard customer advisor says the following:


Thank you for contacting Barclaycard.

I can confirm that the direct debit facility has been set up for your account to take the full amount due. Your next payment will be taken by direct debit on the 05/07/2011. The direct debit is always collected on the payment due date only and it gets credited to your Barclaycard account on the same day and hence you will not be late. However the process of collecting funds from your bank account starts around 5 working days prior to the payment due date.

I trust this information is of assistance.

Should you have any further queries, please do not hesitate to contact me.

Kind regards

xxxxxxxxxxxxxxx
Customer Advisor
Barclaycard Customer Service


Last 1-2 weeks I contacted them and that's the reply they gave me (see above). For reassurance purposes, I also contacted them by email using the 'contact us' link on the Barclaycard online banking about the DD stuff. I can see the Barclaycard DD on my Barclays online banking too. I also called Telephone Banking, and they could see it as well.

Since the collecting of my funds from my bank account starts around 5 working days prior to the payment due date didn't happen, this is why I made a manual payment (despite having the DD setup).


After making a manual payment by debit card, the payment has cleared (Barclays online banking dated the transaction 30/6, Barclaycard online banking dated the transaction 29/06).

Now the 'Pay Your Bill' & 'Direct Debit' section says the following since the manual payment is now cleared:
You've chosen to pay - The full amount each month
Your next payment - £0.00 Payment is due on - 05 Jul 2011



Looks like I won't be 'double paying' then.

Is there any consequences of paying too early?

I checked my Barclaycard online banking (transactions page), in the 'In' column of the statment says the amount is '£-xxx.xxx'. Why is negative? :think::question:

If the Barclaycard advisor says the statement amount will be taken by DD on the payment due date, and gets paid on the same day. Then they say collecting of funds from my bank accont starts 5 working days before the payment due date. Their reply is contradicting. This is why I paid early.... Also, how can paying by DD meet the payment date, as I thought it takes a few days to clear and reach the account?

Advice appreciated.

jennifernil

I have several credit cards, and have DDs set up to pay them all in full every month.

I have noticed that on my Goldfish (Barclaycard), Halifax Clarity, and M&S cards, they take the DD from the bank on the due date, while on my Tesco CC they actually take it 5 days before the due date, but do say on the statement that this will happen.

My daughter had a Student Halifax CC, and they also took it 5 days before, which did catch her out once as she had not read the statement carefully enough.

I have also noticed that sometimes, when a DD is due on a Monday, it is on my internet banking on the Saturday.

What I think they mean with this 5 days before business, is that that is when the wheels are set in motion to take the DD, and if you pay manually after that date, the DD process has been started and cannot be cancelled.

Once you have been told (in writing) that the amount will be taken by DD, you should relax and let it happen. If it is late in going out, then that is up to the CC people.

You should read every CC statement carefully and check that it does say on it that the balance WILL be taken by DD. It should also say the date on which this will happen.

P.S........I get these text/e mail messages from Barclaycard and Tesco too, I just ignore them. But I must emphasise the importance of checking on your statement to ensure they have confirmed they will be taking the DD. Mistakes can happen!

Wallhart

Slightly confused. I assume that they debit /credit on the same day because it is the same bank. Not sure whether this is what your asking though.