Abbey 5% cashback card DDs

Stephen_Leak

I've just received my conditional acceptance letter, etc.

However, I noticed that the DD mandate didn't have anywhere to specify either the minimum payment or full amount. So I rang up.

Evidently, as the card's interest rate is 0%, they don't have to give a choice and set up everyone on just the minimum payment. However, you can then amend the DD to the full amount.

This is also because 90% of their customers "choose" the minimum payment option. However, with it being the default option plus the usual consumer apathy and/or ignorance, this is hardly a reliable measure of customer opinion.

This all seems logical, and the guy on the other end was consumately professional, but I would welcome some independent confirmation before I can regard it as accurate.

One more thing to note to have to do ...

PBA

There isn't a "default" option, whichever option you ask for during the application is the one which gets set up. I haven't had a customer ask for a direct debit at all yet though, so I haven't seen the form!

If you're not sure which one is being set up on your account, your statement will show how much is being paid and when so you'll know if it's the full amount or not.

Stephen_Leak

Evidently, there is a default option as far as Abbey are concerned - the minimum payment.