Halifax statement doesn't add up

Trembling_Turnip

Got my Halifax CC statement yesterday. I don't use the card and am just paying off £60 every month by standing order.

Page One info was correct -

Payments received - £60
No transactions
Interest on purchases at 14.9% = £3.47

However on Page Two for the same period it listed:

New payments = £243.59
Transactions and interest = £187.06
Expected interest next month = £5.70 (which is wrong as the amount should be lower than this months not more.)

I telephoned customer services and the chap (who was equally confused where these figures had come from) after conferring with a colleague said that the reason for this was that sometimes they check an account is active by paying money in and out of it. He also said to ignore the expected interest amount as that was wrong.

Has anybody ever heard of this practice? And surely if they need to check my account is active it should not be appearing on my statement?

TT x

lolarentt

Sounds like a total load of tosh to me......but then anything HBOS do these days would not surprise me!

Are you sure the page 2 was from your account?...I'm sure you checked that anyway.

Zazen999

Halifax are bonkers: I have been with them for years and every month they manage to betwixt me with their weird ways.

Every transaction that comes out of my account shows the wrong transaction reason for a few days - which just **$$** me off every time: so I get for example:

Standing Order: £82.36

Of course, there is no standing oder of that amount, and a few days later it will change to; transfer or cheque or withdrawal; but I have to stop myself every time from phoning them up and saying: I don't have a standing order for that amount, what's going on...

This happens every single time money goes out of my account...at least it encourages me to
a - spend less and
b - keep an eye on all outgoings

So, I am afraid it could be anything; if the second page has your details on it, then either a phone call or a visit to a branch might be in order - and ask for a full detailed statement of what that is all about.

Nutters [them, not you!]

Trembling_Turnip

Yes it was my name and account number on the second sheet. CS said he could see the figures on his screen but couldn't work out where they had come from.

It just sounds very very odd to me. Even if what he said about them testing the account was correct it doesn't explain why the figure for next month's interest was wrong.

The current card is due to expire 02/2008 and they are sending me a new one at some point. I wonder if this has caused a !!!!-up somewhere.

Paul_Herring

Trembling_Turnip wrote: »

after conferring with a colleague said that the reason for this was that sometimes they check an account is active by paying money in and out of it.

Complete load of male bovine manure. Ring up again/call into a branch and demand a proper explanation.

RTNI

Trembling_Turnip wrote: »

Got my Halifax CC statement yesterday. I don't use the card and am just paying off £60 every month by standing order.

Page One info was correct -

Payments received - £60
No transactions
Interest on purchases at 14.9% = £3.47

However on Page Two for the same period it listed:

New payments = £243.59
Transactions and interest = £187.06
Expected interest next month = £5.70 (which is wrong as the amount should be lower than this months not more.)

I telephoned customer services and the chap (who was equally confused where these figures had come from) after conferring with a colleague said that the reason for this was that sometimes they check an account is active by paying money in and out of it. He also said to ignore the expected interest amount as that was wrong.

Has anybody ever heard of this practice? And surely if they need to check my account is active it should not be appearing on my statement?

TT x

Have you just come out of a 0% deal on balance transfers?

Have you had a late or missed payment in the last month or 2?

Have you disputed any transaction recently?
RT.

RTNI

Just looking at it now, it would seem from the figures you posted that you have come out of a promotional period either on BT's or on purchases.

Say you had a total balance of £200 on the card, £100 of which was on 0% as Bt's and the remainder as normal purchases. What happens when the 0% (or any offer) expires is that amount you owe (£100) has to be moved to the standard rate of interest (eg 14.9%)

To do this, they take it off your account (ie a PAYMENT for £100) and then bill it again (a TRANSACTION for £100).

Looking at your figures this would seem to be what has happened; Your payment amount of £243.59 is made up of the £60 SO, and the payment of £183.89 that removed the promo from the account.

The new transactions £187.06 is the interest (£3.47) plus the £183.89 that was ADDED back to the account on the new interest rate.

This will also explain the increased estimated interest amount, as something has come off a promo period.

Hope that explains it!

RT