I've been told that Goldfish now require five working days to process a payment made by
my bank (similarly Capital One, MBNA and Amex), while other card companies
only require the payment to be made three days before the due date.

Also, the payment "goes into a holding account for two days".

Why are these four companies different?


Robin

"Robin Cox" wrote in message
...
I've been told that Goldfish now require five working days to process a
payment made by
my bank (similarly Capital One, MBNA and Amex), while other card companies
only require the payment to be made three days before the due date.

Also, the payment "goes into a holding account for two days".

Why are these four companies different?


Different from which other companies? I don't know about the others, but I
have a card from MBNA. I am registered online with them and pay my bill by
Switch. I fairly regularly pay it one or two days before it is due with no
problems whatsoever. Prior to that I used to post them a cheque. I usually
posted the cheque first class two days before the due date, again with no
problems whatsoever. I think the back of the envelope said allow seven days
if paying by post, but I never did. At one point I forgot to pay and phoned
the day before it was due to ask if I could pay by Switch. The adviser said
no and advised that my quickest option was to pay by cheque. A bank payment
would take 3 days to go through, but if they had my cheque in their
possession on the due date they would backdate the payment to then. I posted
it first class- after six o' clock and it still got there on time. I know
they said they had tightened payment times a few months ago, and I no longer
send cheques, but the change diesn't seem to have affected me at all.

Neb

"Robin Cox" wrote in message
...

I've been told that Goldfish now require five working days to process a
payment made by
my bank (similarly Capital One, MBNA and Amex), while other card companies
only require the payment to be made three days before the due date.

It's almost always 2 days from sending to receipt. Lets say I BACS the
payment on Monday, then I can be pretty sure it will be received on
Wednesday. Sometimes I actualy get a next day transit time, perhaps when my
bank and the card are both on the same clearing bank.

In message , Adrian Boliston
wrote
"Robin Cox" wrote in message
...

I've been told that Goldfish now require five working days to process a
payment made by
my bank (similarly Capital One, MBNA and Amex), while other card companies
only require the payment to be made three days before the due date.

It's almost always 2 days from sending to receipt. Lets say I BACS the
payment on Monday, then I can be pretty sure it will be received on
Wednesday. Sometimes I actualy get a next day transit time, perhaps when my
bank and the card are both on the same clearing bank.


I my experience it can be 5 _working_ days between pressing the key to
send and seeing the money electronically transferred to another account.
Recent radio and television programs indicate that I'm not alone in
seeing these long transfer times.
--
Alan

Recent radio and television programs indicate that I'm not alone in
seeing these long transfer times.
--

I pay all my bills by direct debit - the payment goes out on the due date,
so I maximise the interest free period, the interest earned on my money in
my bank account, and I never miss a payment. Why do people insist on having
to think about when they must press the button on the PC to say 'send
payment' or post a cheque (including the cost of the 1st class stamp). Its
a bit old fashioned in my view.

"D.A.L." wrote in message
...

I pay all my bills by direct debit - the payment goes out on the due date,
so I maximise the interest free period, the interest earned on my money in
my bank account, and I never miss a payment. Why do people insist on
having
to think about when they must press the button on the PC to say 'send
payment' or post a cheque (including the cost of the 1st class stamp).
Its
a bit old fashioned in my view.

Paying your bills by DD is all well and good, but it does mean ensuring that
funds are avaliable in your current account on the due date.

I normally sweep my salary into a high interest account on payday, leaving
just enough to cover my household bills & mortgage. As my credit card is
not normally due till about the 10th of the month, then it would loose me a
fair bit of interest (ok only a few quid, but enough to cover the cost of a
bottle of wine) if I were to leave funds sitting in my current account till
the credit card DD came out, so it's easier just to BACS direct from my
savings account to my credit card.

Paying your bills by DD is all well and good, but it does mean ensuring
that
funds are avaliable in your current account on the due date.

I normally sweep my salary into a high interest account on payday, leaving
just enough to cover my household bills & mortgage. As my credit card is
not normally due till about the 10th of the month, then it would loose me
a
fair bit of interest (ok only a few quid, but enough to cover the cost of
a
bottle of wine) if I were to leave funds sitting in my current account
till
the credit card DD came out, so it's easier just to BACS direct from my
savings account to my credit card.


Easy - just open a high interest current account. There are plenty around.

I usually pay some urgent bills by Payday Loan because i am in lack of funds. It helps me in paying some urgent mobile and electricity expenses.

Same here. Direct debits seems to me as the best option for it. Not only does it happen on time, you can also ensure to get the best interest rate. Therefore, the way I see it, it is one of the best methods out there today.