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Paying onto a friend's credit card bill

KME91
Posts: 359 Forumite
Hi,
I'm getting my financial probs into some kind of order, and one of my outstanding debts is to a mate, for about 1000. What i was wondering is, can i make a regular monthly payment onto my friend's credit card bill by standing order? this would help my friend immensely, and allow me to pay her back what i owe, with a set time frame and a clear end in sight.
How do i go about setting this up with my bank?
Thank you!
I'm getting my financial probs into some kind of order, and one of my outstanding debts is to a mate, for about 1000. What i was wondering is, can i make a regular monthly payment onto my friend's credit card bill by standing order? this would help my friend immensely, and allow me to pay her back what i owe, with a set time frame and a clear end in sight.
How do i go about setting this up with my bank?
Thank you!
current debt as at 10/01/11- £1250
0
Comments
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Hi- it is possible as my friend set one up to pay me back but we cancelled as said could only do it for the minimum amount. It may be worth ringing and checking with the companyjune debt totals:
Citifinancial £11700
Morgan Stanley £860
Capital one Mastercard CLOSED
Capital one visa £1676.3
Halifax £6650
Barclaycard CLOSED
Abbey £1756.85
Dad £6625
Mbna £2282.20
Total £31550.35
£1000 in 2mths challenge £228.190 -
Have you got internet banking? If so you can just set the card up as a new payee easily, and then either a standing order or set each payment up individually. I wouldn't have thought there would be a problem with the minimum payment though, as I know plenty of people who get paid weekly pay a little off each week rather than try to keep some aside.Total Debt 13th Sept 2006 (exc student loan): £6240.06 :eek:
O/D 1 [strike]£1250 [/strike]O/D 2 [strike]£100[/strike] Next a/c [strike]£313.55[/strike]@ 26.49% Mum [strike]£130[/strike] HSBC [strike]£4446.51[/strike]@15.75%[STRIKE]M&S £580.15@ 4.9%[/STRIKE]
Total Debt 30th April 2008: £0 100% paid off!
PROUD TO [STRIKE]BE DEALING [/STRIKE] HAVE DEALT WITH MY DEBT0 -
your friends CC statement should have details on how to make payments from your bank account, if you have online banking you should be able to serach for the CC company thenm just enter the reference (usually the card number), amount and frequency of payments. well thats how it was when i set up payments for barclaycard hope this helps!0
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If you go to your bank (if you don't have internet banking) you can set up a standing order with a form from them. You just need your friends credit card number and the sort code and account to pay it in - it will be on the tear off slip onthe bottom of their credit card bill. You can specify the date and amount.
"Stay Wonky":D
:j:jBecome Mrs Pepe 9 October 2012 :j:j0 -
brilliant, thanks all!current debt as at 10/01/11- £12500
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I agree with setting up a trasnfer from your account. My bank has a thing called bill payments (not direct debit) so you could pay different amounts depending on what you can afford also means you're not committed to monthly direct debit if things are tight one month. An alternative is giving your friend a cheque made out to her CC company with the CC account number on the back, I got my friends to do this whenever I booked tickets etc as it meant I couldn't fritter the money away. Then is can be sent away whenever their statement comes in.LBM 03/07 £44k:eek: DFD 31/12/17 :A 12/17 £2545.50
Credit Card £2500.00 & Next £45.00
Savings = £81.21 & Help To Buy ISA = £4700.000 -
Just to add, if you're like me and don't like sending large amounts to new accounts, send £1 first. Then your friend just has to check their statement and you both know it's working properly!0
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