Missed Credit card payment despite 7 day switching service in place

peter334455

Hi,

I was wondering if anyone had any suggestions.

I've recently switched bank from Santander to Yorkshire Bank on the 7 day switching service which is supposed to guarantee all direct debits etc change over

I have just found out the credit card DD didn't go which was due on the 4/5/16. I have rang up santander who i have the credit card with are adamant it will go down as a late payment on credit report which i'm massively annoyed about and think is massively unfair. I made a payment straight away when finding out this morning. Santander are saying even though i switched on the 21/04/16 it takes more than one billing cycle for the change to take effect so even though the DD is setup it wouldn't take a first payment till 02/06/16. How would i know this exactly???

They have agreed to wave the late fee as a one off good will token but it's the mark on the credit report i'm worried about as i've never missed a payment before for anything.

thanks in advance for anyone who can suggest a further step with this.

Nebulous2

peter334455 wrote: »

Hi,

I was wondering if anyone had any suggestions.

I've recently switched bank from Santander to Yorkshire Bank on the 7 day switching service which is supposed to guarantee all direct debits etc change over

I have just found out the credit card DD didn't go which was due on the 4/5/16. I have rang up santander who i have the credit card with are adamant it will go down as a late payment on credit report which i'm massively annoyed about and think is massively unfair. I made a payment straight away when finding out this morning. Santander are saying even though i switched on the 21/04/16 it takes more than one billing cycle for the change to take effect so even though the DD is setup it wouldn't take a first payment till 02/06/16. How would i know this exactly???

They have agreed to wave the late fee as a one off good will token but it's the mark on the credit report i'm worried about as i've never missed a payment before for anything.

thanks in advance for anyone who can suggest a further step with this.

You need to make a formal complaint to Yorkshire. As the bank you are switching to they are responsible if the switch doesn't transfer as it should.

Santander are speaking rubbish. There shouldn't be a cycle to setup a DD if you switch, it should switch seamlessly. If Yorkshire show the DD switched properly but Santander didn't take it you might need to go back and complain to them.

Having said that, regardless of the call centre operator, it might not show as a late payment on your credit report. They sometimes allow a couple of days grace. Keep an eye on it.

john1002

Interesting as if you read this sites own guide nothing is mentioned in the FAQ about missed payments and impact on your credit status when the DD is not fully set up for payment, it only mentions you can claim to Yorkshire for any charges/fees which in your case don't apply as Santander have agreed to waiver them.

I would speak to Yorkshire bank and make a formal complaint, they are the ones that have responsibility.

I'm sure other people switch near to DD payments going out, so be interested to see other peoples take on it.

John

bigadaj

The one thing the OP can do is check their credit reports and add a note of correction/ explanation if the late payment had been recorded. This will help with any manual credit check but not so much with an auto one.

You might be able to persuade Yorkshire to pay for the credit reports at least.

YorkshireBoy

It's been posted before on here (by an FD employee*) that there's an interbank mechanism/obligation for removing credit file markers under such circumstances.

OP needs to make a formal complaint to Yorkshire Bank, who will then arrange for any fees to be refunded along with removal of the Santander entry.


* If she sees this thread hopefully she'll respond and cite the rules/regs she quoted last time (I can't find the thread now after a quick search).


EDIT: Here's the thread I was looking for...

https://forums.moneysavingexpert.com/discussion/5196234