Egg bounced direct debit

DesG

Hi,


Does anyone know what happens with egg if your direct debit is bounced?

Do they automatically try and take the payment again a few days later?

Cheers, Des.

lju

DesG wrote: »

Hi,


Does anyone know what happens with egg if your direct debit is bounced?

Do they automatically try and take the payment again a few days later?

Cheers, Des.

You will get a letter asking you to log into your account and update your direct debit details. Also they will want you to make a payment by the one off payment option online.

YorkshireBoy

Will you also incur 2 x £16 charges?

DesG

YB: why 2 x £16 and not 1 x £16?

I am more concerned with losing the interest free period Which will mean I will have to pay interest on everything bought last month, and in the current month until I completely clear the account.

That will teach me to keep a closer eye on the end of the month in February!

Cheers, Des.

YorkshireBoy

DesG wrote: »

YB: why 2 x £16 and not 1 x £16?

It was a question, rather than a statement, based on...

7. CHARGES

7.1 If you break the terms of this Agreement we may charge you the following, where relevant, to cover the additional cost caused to us:

• £16 each month you go over the Credit Limit, even if we authorised the Transaction which resulted in you exceeding the Credit Limit;
• £16 if you do not keep up the payments on the Account;
• £16 for any payment returned or recalled for any reason;
• any costs and expenses reasonably incurred by us as a result of your breach of this Agreement.

http://new.egg.com/visitor/0,,3_11087--View_1068,00.html
(Egg Card, but Egg Money is the same)

DesG

YorkshireBoy wrote: »

It was a question, rather than a statement, based on...http://new.egg.com/visitor/0,,3_11087--View_1068,00.html
(Egg Card, but Egg Money is the same)

Ah, I see, I'll report back what they charge when they realise the DD has bounced.


I made a card payment for the full balance, but that takes a few days so they will probably hit me with the full interest for the 2 months

Cheers, Des..

DifferentFromTheNorm

It sounds like your DD is set to pay the full balance?

If so, Egg will do the following:

1. Charge a £16 unpaid DD fee.
2. Change the DD payment option to the minimum
3. Wait two working days, if no additional payment has been made within these two working days then they will recall for the minimum amount by DD

As you've made a debit card payment it should credit your account in time to prevent a late payment charge. As you mentioned though, you will get charged interest.

If you want to carry on paying the full balance by DD in future then wait a week or so before going into the DD details to change it back over to the full balance (as Egg have probably changed it to the minimum).

To do this: Your money > view next to Egg Card or Egg Money > Your Direct Debit

Don't do that straight away though, just in case your debit card payment isn't recognised in time. Otherwise, if Egg do recall for the DD and you've changed it back to the full balance then they will call for the full balance again.

If you want to minimise the amount of interest applied then if you haven't already done so make another payment to clear your balance down to zero before you carry on using the card.

YorkshireBoy

DifferentFromTheNorm wrote: »

As you've made a debit card payment it should credit your account in time to prevent a late payment charge.

ISTR you work for Egg, but...

The direct debit date is also the payment due date, is it not?

Any debit card payment subsequently made will therefore be 'late', won't it?

DesG

I can confirm...

I was charged 1 x £16 for UNPAID DD FEE

DFTN, thanks for the info, yes you are correct, the DD was setup for the full amount.

I made an additional card payment of the statement balance on the due date, but this obviously won't be credited onto the account in time.

I assume I am now paying interest on all of last months purchases, and all of this months until such time as the balance hits zero, will clearing the balance reset the interest free period, or will I still be paying interest on items I buy between clearing the balance, and the next statement date?

You mentioned a late payment charge, how late does the payment have to be to be charged this, as I have not paid by the due date as mentioned by YB above.

My £200 cashback was credited to my account the day after the due date, would that count as a payment and prevent the late payment charge?

Cheers, Des.

DesG

Oh, just noticed a system message...

We have been informed by your bank that this payment has not been
honoured as there were insufficient funds in your account to meet
this payment.

A further attempt to request payment has been processed today for
the minimum payment of 0 GBP under sort code XXXXXX

Your account has now been adjusted to collect the minimum payment
each month. If you want to pay more than this after your next
statement is received, please amend it online

YorkshireBoy

DesG wrote: »

Your account has now been adjusted to collect the minimum payment each month. If you want to pay more than this after your next statement is received, please amend it online

You might want to read this stoozing site post if you're changing your DD option...

http://www.stoozing.com/cgi-bin/forum/YaBB.pl?num=1204675513