Octopus and my Credit Score

t0rt0ise

https://forums.moneysavingexpert.com/discussion/comment/82103688#Comment_82103688

I do pay with variable direct debit. It was the short-term debt marker I was really querying and you didn't directly address. I've never seen such a thing.

born_again

https://forums.moneysavingexpert.com/discussion/comment/82102965#Comment_82102965

Similarly, First Direct (part of the international Hong Kong and Shanghai Banking Corporation) de-banked the Chairman of the London Assembly Andrew Boff because he bought a coffee during an official visit to Ukraine. The first he knew was when his card didn't work the next day.

Not the 1st time someone has used the phrase "DEBANKED" on a security check.

Debanked is when they tell you they no longer want you as a customer. NOT a simple security check.

MWT

https://forums.moneysavingexpert.com/discussion/comment/82104359#Comment_82104359

A 'short-term debt marker' isn't a real thing, short-term debt will show as a balance and I expect that is what you would see on your credit file, but it isn't a negative marker just recording a factual statement of the balance.

This will appear for any regularly paid account which is settled after receipt of a bill and along with the balance there will be a payment indicator showing the regular payment history.

The OP appears to be objecting to the balance being shown as debt, which is accurate, but has no negative impact on their file.

kingstreet

https://forums.moneysavingexpert.com/discussion/comment/82103032#Comment_82103032

To clarify, Octopus is issuing a bill (23 July?) then not collecting the direct debit until 18 days later (10 August?) and that is causing them to mark your account as in arrears or late/missed payment?

WiserMiser

https://forums.moneysavingexpert.com/discussion/comment/82104401#Comment_82104401

Debanked is when they tell you they no longer want you as a customer. NOT a simple security check.

That's exactly what First Direct have done. They've blocked his card, they'll close his account permanently in October and they won't let him appeal.

What more would First Direct have to do to meet your definition of debanked??

born_again

https://forums.moneysavingexpert.com/discussion/comment/82105177#Comment_82105177

, with the bank citing transactions in a "sanctioned country" and stating that managing the risk fell outside its acceptable limits

As a PEP, he should have been well aware of the situation on Sanctions & not used his personal card. Typical that someone like this complains on actions taken against them, when they break the rules.

WiserMiser

https://forums.moneysavingexpert.com/discussion/comment/82105265#Comment_82105265

with the bank citing transactions in a "sanctioned country"

Russia is a sanctioned country but Ukraine is not. He bought his coffee in Ukraine.

born_again

https://forums.moneysavingexpert.com/discussion/comment/82105521#Comment_82105521

Certain area's are.

https://www.sanctionsmap.eu/#/main

MWT

https://forums.moneysavingexpert.com/discussion/comment/82104747#Comment_82104747

Hopefully the OP will respond to you directly, but as far as we know from what has been posted, there are no late or missed payment markers on the account.

The AI response from Octopus is a red herring.

The OP is on monthly variable direct debit (MVDD) as a payment method so they receive their bill and a DD is scheduled for 10 days later. Net result, as confirmed by other MVDD payers, they have a credit account which will show a balance and a confirmation of their timely payment.

It is the fact that the account shows a balance that seems to have upset the OP, but there are no negative markers as far as we know, only a confirmation that they have a credit account with Octopus…

kingstreet

https://forums.moneysavingexpert.com/discussion/comment/82105632#Comment_82105632

Yeah. Just checking exactly what the issue is here…