LLOYDS TSB BACS derails my big purchase.....

MasterPoo

meer53 wrote: »

Wow, buying a kitchen with cash is, in my opinion, a HUGE mistake. No protection AT ALL for when things go tits up.

Cash = Visa Debit.

Are you saying even though it clearly states on the quote the guarantees, I still won't be covered?

Dobbibill

MasterPoo wrote: »

Cash = Visa Debit.

Are you saying even though it clearly states on the quote the guarantees, I still won't be covered?

This is what PP's mean about buying on a CC. You can still pay it off in full and not pay any interest but it means any purchases over £100 are covered under 'section 75' so for example if kitchen company goes bust between when you pay for kitchen and get it fitted, you will not loose your money, if you pay with cash/debit card you don't have the same cover
http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases
Also as another PP pointed out, if you have a CC with cashback/rewards then you could earn for spending on it

Hope this helps

DB

Armorica

MasterPoo wrote: »

Cash = Visa Debit.

Are you saying even though it clearly states on the quote the guarantees, I still won't be covered?

You'll have your guaranttee from the manufacturer/shop for what it's worth. With a credit card, you have additional protection from your card issuer under section 75 of the Consumer Credit Act.

If you don't want to be in debt, simply tick the box that says always pay off in full when you sign up for a credit card. (You'll get the perk of an additional 30-59 days worth of interest as well)

jonesMUFCforever

MasterPoo wrote: »

Cash = Visa Debit.

Are you saying even though it clearly states on the quote the guarantees, I still won't be covered?

If the company goes bust you will lose - if they make a mess of installing (if this part of the deal) you lose.
A credit card protects you in this scenario.

anoncol

MasterPoo wrote: »

Meer - Kitchen, on Sale, sale ends tomorrow.

I'd rather be dogmatic than live on credit/use credit cards!

Using credit cards sensibly is far from living hand to mouth. Getting cashback on them, and paying it off monthly and keeping interest is actually profitable.

You seem like my parents who feared debt, but its a very old fashioned approach that doesn't actually make any logical sense.

MasterPoo

So yesterday morning I emailed the Group HR Director as she is the one that had sent out the email about Lloyds TSB/BACS on Friday. In her email she said that payments would be delayed by 2 days.

So yesterday I responded to her email asking if that was 2 working days or not. To which she replied Monday 12 am. I check when I got into the office, the money had still not gone in.

I've just received an email from her saying that the bank has confirmed that the money has been transferred and could I verify this. Which I have now done. Payment received.

Most of you pointed out that this scenario could've easily been avoided and was probably communicated to them beforehand, they just didn't manage the process properly.

I'm now "worried" if this might happen again? The thing is we live in an economy where big international companies are operational one day and the next they are not. My current contract runs till 30 April 15. Should I be worried?

Archi_Bald

MasterPoo wrote: »

Should I be worried?

Worried about what?

Dobbibill

It is possible this could happen again, also possible that the company you contract to will not see/heed the advance notification of this. I would not say worried so much but now you are armed with the relevant information maybe you make arrangements to have an emergency fund so that if this happens again you won't miss out on any bargains/deals/special offers that you are looking forward to.

DB