Any Way To Make A Payment Clear Quicker..?

thesnowdog

Hello everyone!

I was just wondering if there was any way to make a payment off my credit card quicker than paying via my Co-Op bank account with online banking..?

There's a payment deadline coming up in a month or two where paying it on the Friday (when I will have the cash to pay it) will mean that thanks to the weekend I'll be a day late in that payment clearing.

Just thought I'd ask, it's not a big deal if I can't find a way because I can borrow some money from my Mum for a couple of says if I need to. :T

YorkshireBoy

Who's the credit card with?
Have you made a previous payment from Co-op to it and so know it won't clear same day?

thesnowdog

Yup, it's Vanquis...so I'm not holding too much hope on phoning them up and getting their permission to make a late payment lol

YorkshireBoy

You won't even be able to make the minimum payment?...thereby only incurring interest.

eskbanker

According to https://www.vanquis.co.uk/credit-cards/faq, paying by debit card on the phone (once the funds hit your bank) may be cleared into your card account quicker than making a faster payment funds transfer (2-3 working days instead of 3-5)

YorkshireBoy

eskbanker wrote: »

According to https://www.vanquis.co.uk/credit-cards/faq, paying by debit card on the phone (once the funds hit your bank) may be cleared into your card account quicker than making a faster payment funds transfer (2-3 working days instead of 3-5)

That would mean they weren't complying with the PSRs though wouldn't it? I suspect the reason they've said that is to encourage prompt payment so worst case scenario with weekends and Bank Holidays involved is covered. It could also mean that page hasn't been updated for years!

eskbanker

YorkshireBoy wrote: »

That would mean they weren't complying with the PSRs though wouldn't it? I suspect the reason they've said that is to encourage prompt payment so worst case scenario with weekends and Bank Holidays involved is covered. It could also mean that page hasn't been updated for years!

Do the PSRs actually cover the full end-to-end timescale for applying payments to card accounts, as opposed to just the bank-to-bank transfer element?

thesnowdog

Well I reckon I should just phone them up and ask them, perhaps..? Like I said it's not a big deal as I can borrow some cash from my Mum for a couple of days (that's what Mums are for lol) but I was just wondering in if there was a reason not to bother Mum's Bank PLC lol

Thanks for the help everyone!

YorkshireBoy

eskbanker wrote: »

Do the PSRs actually cover the full end-to-end timescale for applying payments to card accounts, as opposed to just the bank-to-bank transfer element?

You've answered a question with a question. I don't know the answer, but I'd suggest they should do.


A very quick check of the regs seems to offer a 'get-out' if both parties agree. Would that apply here...perhaps if it were written into the T&Cs rather than a FAQ section?

YorkshireBoy

thesnowdog wrote: »

Well I reckon I should just phone them up and ask them, perhaps..?

If they knew any more detail they'd put it on their website or on your statement wouldn't they?...instead of the stuff they've already put on there. I think calling them would be a waste of your, and their, time.