TSB C Card payments

Robisere

I have an outstanding debtof £1K+ on the TSB Mastercard, which I always set to pay off before it's due. I made a future payment of the whole balance, to go out on 14/05/17. Today I received a text message asking me to contact TSB on a number I did not recognise: I have never received a text from them before. They state that my payment is overdue. As I had not recognised the number, I accessed online banking and called the contact number there, explaining that I did not understand why they think it was overdue. Being advised that I should make the minimum payment of £30, I tried to do that online. I was informed that I could not make the payment, due to a future payment being made. I was asked to amend the future payment, but could find no way of doing that without calling yet another number, which I did. I was on that line for 20 minutes without success.

I have given up for now and will go to the branch tomorrow to sort this out. What is annoying, is that there are many ways online to amend other payments, but not Credit Card payments. I have to call and my hearing is quite bad now, especially when the voice I call is obviously working with a headset and is very unclear.

If I regularly missed payments, I could understand it, but I never have missed a single payment to any financial organisation in my life, and I am 72. Why is the fact that I made a future payment to clear the balance, not noted?

Sorry about the rant, but I had to vent! :mad::o

[Deleted User]

Minimum payments still need to be made by the appropriate due dates, regardless of any future planned payments.

mt99

I am probably asking a silly question but if you pay the full balance off every month why do you do it manually rather than setting up the credit card to direct debit the full balance each month? Anyway, at the least you should set it up to direct debit the minimum payment.

isasmurf

Robisere wrote: »

Being advised that I should make the minimum payment of £30, I tried to do that online. I was informed that I could not make the payment, due to a future payment being made. I was asked to amend the future payment, but could find no way of doing that without calling yet another number, which I did. I was on that line for 20 minutes without success.

That doesn't sound right. There should be no reason why a future dated payment should prevent an immediate payment to the card. It might be worth a complaint.

Although can't you go on online banking, cancel the future dated payment and replace with a new one to pay immediately?

Ben8282

I think the actual problem regarding the future payment which is preventing the immediate payment being made is with the current account being used to make the payment and nothing to do with the credit card.
As a payment has already been set up to this payee, another payment cannot be made while the original payment is still pending. The solution is simple. Using online banking, AMEND the existing (future) payment to an amount of £30 and the date to pay immediately. The payment will then be made. Then, after this payment has gone, set up a new payment of the future payment that you intend to make on 14/5.
With regard to whether or not this £30 payment is necessary, what is the payment due date of your latest current statement? You MUST make at least the minimum payment by the date due. If the date due is prior to 14/5 then this £30 payment needs to be made. If the due date is on or after 14/5 then this £30 payment does not need be made. I hope this is clear.
I would of course draw to your attention that if the payment due date is prior to 14/5 and you only make the minimum payment prior to the due date you will be charged interest. If you have the money in your account to make the full payment immediately (or at least before the payment due date) then you will save paying interest which will without any question be more than any amount of interest that this money could earn you sitting in your current account.
With regard to your question about the future payment not being noted, I would ask you how you imagine the credit card knows about such a payment as it will have been set up on a current account and not with the credit card. Also, as the payment could be cancelled or amended at any time, the fact that you have set it up means nothing even if they did know about it.
Also a £30 minimum payment is a bit high on a TSB card for a 1k balance. This is not a card which is being paid off each month is it? This is a card with an interest bearing balance of 1k.
It was very sensible to call TSB on a published number and not the unrecognised number. Well done for that.
A final thought. If a statement is due between now and 14/5, do not set up the new payment yet as you will actually need to pay more to fully clear the balance as interest will have been added at the statement date.

Ben8282

mt99 wrote: »

I am probably asking a silly question but if you pay the full balance off every month why do you do it manually rather than setting up the credit card to direct debit the full balance each month? Anyway, at the least you should set it up to direct debit the minimum payment.

Because the OP doesn't really pay the card in full every month. This is self evident from the balance and the amount of the minimum payment. This card has an interest bearing balance.

Robisere

Thank you all for your replies. I went to the branch this morning and sorted it out.

Ben 8282 has it correct.
I should have paid the normal monthly DD payment, subtracted that amount from ther larger sum I intended to pay back as a future payment.

However, there is no facility to amend credit card payments online with the TSB Internet Bank. When I went to branch, an assistant manager took me into her office, contacted the CCard number and sorted out the situation. She obtained a latest balance and I paid off the lot at the till: I could have made it another future payment, but decided to clear the whole balance. I also asked her to request a facility to amend ccard payments online and this has gone to HQ apparently.

This was basically my own fault and I admit that: I should have made the regular payment, but I prefer to pay off the card in my own time. A lesson learned!

It is also fortunate that we have the kind of branch that we can approach at any time during banking hours with problems and receive efficient, courteous service.

Ben8282

I'm pleased that you were able to get this sorted out.
I remain confused at your apparent inability to amend a payment to your credit card.
I don't know how you have this payment set up - perhaps you are using some sort of 'pay credit card' button which does not allow amendments to be made. However, to avoid this type of problem in the future, set up a new payee in your normal online payments. You will find the sort code and account number to use on your statement - this should be 77-48-31 account number 0000000 but double check yourself from your own statement - and use your credit card number the full 16 digit number as reference. This will then set up as a normal payee and you will be able to make, amend and cancel payments normally. The payments will go through as faster payments so there will be no delay.