Late payment due to bank holiday?

Pop1089

Hi, I have received a late payment due to the bank holiday. Payment due 30th Apr which was a Sunday, paid the Minimum on the 30th but money didn't arrive on credit card until 2nd may. Anything I can do?
Thanks

molerat

Phone them up and grovel. As it is totally your fault they don't have to do anything so be nice.

Robin9

You really did leave it to the last minute.

Set up a DD to pay and avoid the hassle.

Pop1089

Thanks, will set up a DD for next time and ring them. Wish me luck.

YorkshireBoy

Pop1089 wrote: »

will set up a DD for next time and ring them.

You may not be able to do that for the next payment, if your next statement has already been produced. When you call to set it up, be sure to listen very carefully to the script being read to you.

For future reference, it's a "payment due by" date, not a "payment due on" date.

eskbanker

Pop1089 wrote: »

Hi, I have received a late payment due to the bank holiday. Payment due 30th Apr which was a Sunday, paid the Minimum on the 30th but money didn't arrive on credit card until 2nd may.

It's not a bank holiday issue - the fact that the payment wasn't applied immediately suggests that it goes through on the next working day, so even if it hadn't been a bank holiday weekend the payment would have been applied on Monday 1st, which still would have been late!

In other words, if not using DDs, you need to ensure that manual payment reaches them by no later than the last working day prior to the due by date (Friday 28th in this case) - it should say on your statement and/or Ts & Cs how long it takes to reach your account via the various different payment methods.

Pop1089

I'm new to credit cards and thought that as long as you paid on the day it would be ok, so was surpised to see the charge. Thanks for all your advice, will have a proper read of the t&cs and set up a dd.

cj1974cr

The advice to set up a direct debit is perfect.

If you make a payment online (though your bank) - it should reach the account within 2 hours (the same day) but bear in mind bank holidays , and weekends.

If your direct debit falls on a bank holiday or weekend, it's taken the next working day.

It will avoid the charges and possible late payment on your credit file , give them a call and explain - hopefully they will refund charge as gesture of good will.

isasmurf

Is it not unusual for a due by date to fall on a non working day for this very reason? I've never had a due by date fall on a weekend; it has always been on the first working day after the required number of days from the statement in the T&C.

m_c

Due date normally does move so it falls on a working day, although I'm sure I've seen them fall on bank holidays.


The big benefit of a DD, is it's up to the credit card company to make sure they take the money in time to meet the payment date. Provided the DD doesn't get refused by something you've done, you shouldn't get hit by any late payment fees should they make a mistake.
Only thing to bear in mind, is some providers may not take a DD payment until the following statement, so check when they'll take the first one, as you may need to make another manual payment.

redux

If you do pay end up paying on only the last day or two, faster payments goes through quicker than debit card. If it's the first time you've done this, and it was by debit card, then phoning up and saying you didn't realise it took 2 or 3 days may get a goodwill cancellation of the late fee.

Remember that a direct debit takes a few days to set up - they are legal obliged to give some notice of when it starts - so make sure you're two weeks or more in advance of the payment date when applying, or else still do the first payment manually.