MBNA/Amazon Card & Faster payment

Rafter

Anyone else been stitched up by MBNA making a faster payment on the due date but it not being applied til the following day?

Set up a payment online with my bank weeks ahead of the due date. Apparently it wasn't received til after 4.30pm on the due date so they are totally within their rights to apply it a day late resulting in a £25 interest charge the following month!!!!

According to their 'customer service' staff I'm at fault here and it seems that they are quite happy to pay fast and lose with the payment service regulations in order to cream a bit more income out of customers!

Just a word of warning - always pay your MBNA card balance a day early to avoid being stung too - or chose a more ethical company who understand what 'treating customers fairly' actually means.

R.

:mad::mad::mad:

StuC75

The due date is the latest date for payment to be received by them, you can and should always pay before then, in fact if you paid by direct debit it tends to come out the bank later than that (but they note it on system as when they request)..

bengal-stripe

Rafter wrote: »

Anyone else been stitched up by MBNA making a faster payment on the due date but it not being applied til the following day?......Apparently it wasn't received til after 4.30pm on the due date.....and it seems that they are quite happy to pay fast and lose with the payment service regulations in order to cream a bit more income out of customers!

Nothing fast and lose. it is quite clearly pointed out in the "Making a payment" section:

Faster payment received Monday to Friday before 4pm will be credited to your account the same business day, after 4pm or on weekend/bank holiday, they will be credited to your account the next business day.

A business day in banking (depending on the bank) ends sometime between 3:30 and 5pm, certainly not at midnight.

The question is, if you have set-up the payment weeks ahead, why did it not leave in the early hours of the morning? Did your bank mess up (although they have time to the end of the next business day) or was the payment delayed because you did not have sufficient funds in your account?

agrinnall

I'm struggling to see how this is MBNA's fault, they received the payment after cut off so applied it the next day, as per their quote posted by bengal-stripe. If there is a fault it must either be with you, in the way that you set up the payment, or you bank, in the way they processed it. My memory of how forward dated payments are taken is a bit hazy 4 years after I last worked on FPS but I'm wondering if they are treated in a similar way to Standing Orders, and processed in a batch window overnight?