virgin ending interest free deal early

john6969cat

:mad: Hi everyone just a query i had a 0%offer for 9 months with virgin on the condition my payments were made on time. My last payment i paid online on the due date, it did not appear on my statement until several days later and they hit me with a late payment charge and back dated interest, i thought if you paid on line it was instant payment are thry within in their rights to hit me with the charges

YorkshireBoy

john6969cat wrote: »

My last payment i paid online on the due date, it did not appear on my statement until several days later

I assume you paid by debit card? If so, did you not see this information...

When will my payment credit my account?
Payments taken before 5pm Monday to Friday will be credited to your credit card account in two working days. Payments made after 5pm or weekends or bank holidays will be credited to your account in three working days. Need more information?
Payments made after 2.30pm on the last day of each month will take an extra day to credit your account.

In all cases, you will see your payment on your account the day after it is credited.

are thry within in their rights to hit me with the charges

Yes.

sdooley

Most online payments are BACS so take the usual 3 day clearing cycle.

The only exceptions are from one account to another with one banking organisation (for credit card cos, this may, at most, include the bank which provides their clearing services) which is same day or overnight.

The terms for payments to your account should be set out on the back of your bill.

The imposition of a penalty charge and a backdated interest charge both appear punitive and might constitute unlawful charges of the type this site and in particular Martin's draft letters (amended for your case) can be used to reclaim. However, on the face of it, your payment was late - you might get the charges waived but are unlikely to get your deal reinstated.

adrian2000

Try phoning Virgin, Explain the situation, it normally works and ask them to set you up a direct debit, then you will never miss the mininum payment again.

Hope this helps.

Adrian

vet8

Surely the point John was making is that paying online SHOULD be instantaneous and that all banks are just ripping us off by taking three days or more, (my bank takes 4-5 days to credit online payments).

The government talked about making banks credit accounts faster with online payments, so it will hopefully happen some trime. I think it is Sweden where online payments have to be credited to your account that same day.

The banks whine that they cannot afford to do this as it will cost them a few pounds from their billion pound profits - my heart bleeds for them!

iceicebaby

Whether is SHOULD be instantaneous is irrelavant. The fact is is isnt (yet)

globalds

adrian2000 wrote: »

Try phoning Virgin, Explain the situation, it normally works and ask them to set you up a direct debit, then you will never miss the mininum payment again.

Hope this helps.

Adrian

I phoned Virgin as they charged me £9.00 for interest on a payment which left my account a day before due date .
They weren't very helpfull so I cancelled the card .
That does seem to be the only way you can express your disatisfaction if the service they provide seems to expensive ...
You never know ...They may phone me up withan offer I can't refuse

realaledrinker

MBNA would not get the money instantaneously either - they would be credited in 24/48 hrs same as any other merchant accepting debit cards. Just like your bank account is not debited with the payment for the same amount of time. Indeed in my only recent experience of paying MBNA by debit card online, my card was paid off the day before the payment hit my bank account!