DD payment for Nat West Mastercard query

November2

Hi, I recently set up a DD to pay a Nat West Mastercard, does anyone know what date they take payments? My statement is issued on the 12th and it says payment must reach my account by Jan 4th however it also states that DD payments are taken 25 days after the statement date which would make my payment late!  Spoke to live chat who said they couldn't help and would pass on my query but no one has got back to me.  As far as I can work out I can no longer pay manually now as they'd also take the DD as well. 

Wheres_My_Cashback

The date payment will be taken is clearly stated on the statement.

Your nominated bank account will be debited with XXXX on XX/XX or soon after

MorningcoffeeIV

Your DD won't be late whenever they take it.

But make sure the statement says that  payment will be taken by DD.  If you only set it up recently, it may not yet be in place.

You still have plenty of time to pay manually.

November2

Thank you.  Just found it on the download statement, payment 4th Jan or soon after.   Have always paid manually immediately on receipt of statement so leaving it weeks until the actual payment due date bothers me, surely if they take it 'soon after' the 4th I get hit with a late payment fee as it clearly states payment due date is the 4th?  Honestly think I'll cancel it next month and go back to manual for peace of mind!

grumbler

November2 said:

surely if they take it 'soon after' the 4th I get hit with a late payment fee as it clearly states payment due date is the 4th? 

Surely you won't get hit with any fee.

If you pay manually, the date is your problem. If your pay by a DD the problem is theirs.

martinbainbridge1975

would agree with the above, if they stipulate the payment date for the DD then it is on them

surreysaver

If you're worried, pay the minimum by debit card, and let the dd take the rest. 
Never had a problem with Natwest's direct debit.
If you pay the minimum far enough in advance, they'll take that amount off the direct debit anyway

Wheres_My_Cashback

November2 said:

Thank you.  Just found it on the download statement, payment 4th Jan or soon after.   Have always paid manually immediately on receipt of statement so leaving it weeks until the actual payment due date bothers me, surely if they take it 'soon after' the 4th I get hit with a late payment fee as it clearly states payment due date is the 4th?  Honestly think I'll cancel it next month and go back to manual for peace of mind!

'Soon after' covers in the event of a weekend/bank hol. If the 4th was either of these it would be taken the next business day i.e soon after.

With a DD the onus is on the card company to take payment so 'you' can never get late payment

RG2015

November2 said:

Thank you.  Just found it on the download statement, payment 4th Jan or soon after.   Have always paid manually immediately on receipt of statement so leaving it weeks until the actual payment due date bothers me, surely if they take it 'soon after' the 4th I get hit with a late payment fee as it clearly states payment due date is the 4th?  Honestly think I'll cancel it next month and go back to manual for peace of mind!

I tried DD but reverted to manual for much the same reason as you.

My NatWest statement is also dated the 12th of each month but my due date is 6th Jan not 4th Jan.

25 days is the 6th Jan so I don't quite follow why yours is 4th Jan.

molerat

I currently have 7 different CCs paying all by DD and have never had a problem with them being in control.  Many times the payment due date and often collection date has been on a weekend or BH and the debit is taken next working day, even with a due date being the Saturday before a BH payment was taken on Tuesday with no negative repercussions.  The only negative I can think of is if you are not paying off in full so the delayed payment could add interest.

born_again

molerat said:

I currently have 7 different CCs paying all by DD and have never had a problem with them being in control.  Many times the payment due date and often collection date has been on a weekend or BH and the debit is taken next working day, even with a due date being the Saturday before a BH payment was taken on Tuesday with no negative repercussions.  The only negative I can think of is if you are not paying off in full so the delayed payment could add interest.

Interest will be added from date of transaction, not date of payment. So min payment makes no difference what date you pay it, so long as it is after statement is produced.