direct debit indemnity

tony1972

santander recentlly made a mistake by taking the full amount owed to my santander credit card instead of the fixed amount i had set up online. i phoned them and they were very good and immediately refunded the full amount back to my current account (also santander). just wondering how long it normally takes to put the debt back on to the credit card, as i thought that would also be immediate. i have read that it can take as long as 14 days!! unless they forget (which would be nice, but not holding my breath).

grumbler

According to the DD guarantee they have to do this immediately.
However, it's hard to believe that it was their mistake. Have you not made changes far too close to the payment date, i.e. too late?
Also, if you reversed the full amount, does this not mean that you'll failed to make a payment on time and will get a late payment mark in your history?

StuC75

With grumbler, in saying to ensure that you make the regular amount you would have paid for the month, as they could easily then show it as a missed payment. Did the dd not agree with what the statement would have shown?

tony1972

changes were made as soon as i transferred the balance from another card, to take advantage of the 0% deal. i only noticed the error 10 days after it happened as i hadnt checked my account for a while. so the full amount went out and i even had a statement from the credit card to say it had been paid off (this came the day after i phoned santander). the full payment also took me over my overdraft limit (which i rarely use) so i will have to check for penalty payments there as well i guess.

SnowTiger

tony1972 wrote: »

changes were made as soon as i transferred the balance from another card, to take advantage of the 0% deal. i only noticed the error 10 days after it happened as i hadnt checked my account for a while. so the full amount went out and i even had a statement from the credit card to say it had been paid off (this came the day after i phoned santander). the full payment also took me over my overdraft limit (which i rarely use) so i will have to check for penalty payments there as well i guess.

What does your Santander credit card statement say about how much would be taken by Direct Debit?

Direct Debits take a while to set up and amend, especially if a statement has just been produced.

The_Boss

tony1972 wrote: »

santander recentlly made a mistake by taking the full amount owed to my santander credit card instead of the fixed amount i had set up online. i phoned them and they were very good and immediately refunded the full amount back to my current account (also santander). just wondering how long it normally takes to put the debt back on to the credit card, as i thought that would also be immediate. i have read that it can take as long as 14 days!! unless they forget (which would be nice, but not holding my breath).

How did you change it with them?

I had a problem last year where they didn't collect my DD at all despite it saying on statements it was going to collect. This happened 3 months in a row. I phoned them on the day after they didn't collect in the first two instances and was told that it sometimes collected a few days after the payment due date and hadn't collected as I had made a FASTER payment the day after payment date and that my DD was fine and active. The third time I therefore left it and then received a non payment charge, interest added, an aggressive letter and a frozen account. Took lots of hassle getting that sorted and the 'missed' payment off my credit files.

And how did this happen? Well, it happened after I changed the direct debit from minimum payment to full payment...

MissTamsin

If you made the indemnity via the bank arm then they will have refunded you immediately and then approached the credit card arm for the recovery of funds. When I was processing DD claims for a different high street bank Santander C/Cs were pretty slow at returning indemnity claims - sometimes up to 3 months :eek:

tony1972

i made the claim via the cc arm, and the changes to the dd were made online about 4 weeks before the first payment was due. i can see a few frustrated phone calls on the horizon.

MissTamsin

tony1972 wrote: »

i made the claim via the cc arm, and the changes to the dd were made online about 4 weeks before the first payment was due. i can see a few frustrated phone calls on the horizon.

Okay, a DD indemnity claim cannot be initiated by the DD originator only by the paying bank. I'm very suprised that if you arranged funds refund from the CC side of things that you have the money in the bank and its not come off the card and cant really offer any suggestions...

dalesrider

Sounds like they did a cash line (cash debit) from the credit card to the bank account. So that would show straight away in your bank account. And should appear as a debit (might say balance transfer, or other odd description) on the credit card overnight when it updates.

Can't see then doing anything with the DD given its a internal issue.