Why do direct debits take so long?

popsicle_2

exel1966 wrote: »

As has been said before DD payments arrive on the same day it leaves an account. Whether a company records it as such is a different matter, but the fact remains it will be there.
Other payments : BACS/Transfers/SO's will take anything between 3-5 working days depending on the bank/bs concerned.

In the case of your C/card bill that would have been via a transfer by the sounds of it so yes it will take a few days til the system changes. Having said that sometimes it takes c/card companies a couple of days to update online accounts so even though the payment as gone through it may not immediately show online. My mint and AMEX accounts take 2 days for the payment to show up, though it is credited the day the payment is made.
One way to speed up the payment process is to pay your c/card via phone with a debit card, but it will depend on the companies you use.
If you set up a DD with your card company it will leave your account on the due date and you'll NEVER get a late payment charge.

Thanx for info... now I understand why my tight victorian dad refuses to have a bank account (although this is the man that thinks dyson hoover bags are expensive!!)
But.. how can I set up a DD to pay CC bill if the amount is different every month (to clear bill)..is this possible..?

exel1966

Simple, just give your card company a telephone call, give them your bank details and it will be done in a couple of minutes. They will confirm it in writing. You'll be given the option of minimum payments or the full monthly statement balance to be paid. DD payments can be variable amounts, they don't have to be fixed.
Remember to carry on making manual payments until you have received confirmation that the DD has been set up.