payment on day

terryw

You know this whole late payment thing (when it is only a day or so) stinks to high heaven. We all know this and yet there is lttle we can do. Imagine if the milkman or the newsagent said "You did not pay your bill on Monday and it is now Tuesday so there is an extra £12" - would the guy have any customers? Or if a council told an HB claimant "It took the HB section 6 weeks to deal with your claim so you owe us an extra £n" There would be rioting in the streets!

In the case of the banks, they deliberately take days to pass the money on just to have the use of the money for that time period. Exactly the same with cheques and clearance.

Rant over.

Martinslovechild

Good point Terry.

On the flip side of that argument, assuming that they didn't force us to use one of their credit cards, we've only got ourselves to blame when we make late payments on a card that we have applied for.

Every credit card I have ever owned has provided a Direct Debit facility so that this sort of thing never happens. As a result, I've never incurred late payment charges.

I would strongly recommend anybody who's worried about late payments setting up a direct debit. You're normally given the choice of (a) minimum payment or (b) full balance. You'll only pick up a fee if they're unable to collect a payment due to your current account being so overdrawn that therre are insufficient funds available.

Milarky

It's strange that a payment to Barclaycard at a Barclays branch doesn't go through on the same day given that payments from Barclays current accounts to account holders using the sort code '20 xx xx' have been found to do just that (and the sort code for a 'BACS' payment in the case of Barclaycard is 200415)