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Minor moan about the DPS
dou_jyr
Posts: 123 Forumite
Why do they use BACS for repayments? Faster payments have been around for years now. I'm sure many people, myself included, really need the money locked away on deposit. Many will have taken expensive bridging loans to be able to move. So please if anyone from the DPS is reading this - please use faster payments.
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Comments
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I have no idea why DPS use BACS. It shouldn't make much difference though as tenants should always have a deposit (and fees if live outside of Scotland
) banked in case they need to move.
Even if you don't there's no reason for borrowing money to be expensive unless you have a history of borrowing money and not paying it back on time.0 -
Hmmm deposit in case I need to move vs pay bills and buy food. Tough choice!
Edit : sorry that wasn't meant to sound quite so harsh, but many will be facing that choice, myself included.0 -
Everyone needs an emergency fund. There is even a thread on the Debt Free Wannabe board for people trying to save one and many are on tight budgets.0
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BACS is cheaper than SWIFT in terms of the bank fees they will pay, that's about it.0
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I have no idea why DPS use BACS. It shouldn't make much difference though as tenants should always have a deposit (and fees if live outside of Scotland) banked in case they need to move.
Even if you don't there's no reason for borrowing money to be expensive unless you have a history of borrowing money and not paying it back on time.
Tell that to people on low income who dont have much to live off though, in my experience it took a year or more a time to save for deposit at the cheapest properties.
And some agencies try and be crafty and find loopholes for tenants to pay fees anyway.0
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