Effing Easter bank holiday

[poledark]

I have always prided myself that I don't owe money, or if I did (as in mortgage) then it was always paid on time.

 

A short while ago I bought a van, and was advised that I could open an acount with Virgin which gave me 16 months INTEREST FREE. Great stuff...account duly opened. I set up a Standing order with my bank (been with them over 40 years) Payment due on 15th so Standing Order set up for 10th. This allows 5 days for the money to be paid. Banks advise is to allow 4 days.

 

First two payments made OK, but when I got the statement from Virgin today, there was a LATE PAYMENT charge of £12.00 and INTEREST of £62.00. I double checked and noticed that Virgin had not been paid until the 16th!!!!!! PLUS...wait for it....................because I had DEFAULTED I was going to be charged interest each month.

 

So..phone the bank..they say that DUE TO EASTER HOLIDAYS, the payment which was due to be paid on the 10th, had in fact been delayed until the 14th and this did not reach Virgin until the 16th!

 

So a bank holiday has cost me £74.00 (up to now).

 

Bank say they will "look into it"

 

No shortage of money in the account, 6 pensions are paid in each month.

 

You really would think that someone would have used their loaf a bit, I hate to think what it has cost some other people.

 

Den

[Newt]

Were it me, I'd be at the bank in person and talking with a manager in person as soon as they opened tomorrow.

 

They screwed it up and they need to be the ones to unscrew it with your lender.

[poledark]

Tomorrow?????????? you got to be joking Newt, we have ANOTHER bank holiday and they are shut till Tuesday

 

Might be a case for The Ombudsman.........

 

Den

[Alan Stubbs]

Tomorrow?????????? you got to be joking Newt, we have ANOTHER bank holiday and they are shut till Tuesday

 

Might be a case for The Ombudsman.........

 

Den

 

 

Den, if it's paid by Direct Debit, it's Virgin who have to apply for it and it's thus their fault the payment was received late.

 

On that basis, I'd lean very hard on them to waive their charges.

 

Either way, it isn't a shining endorsement, is it?

[ayjay]

Den, if it's paid by Direct Debit, it's Virgin who have to apply for it and it's thus their fault the payment was received late.

 

Den did say it was a *standing order* rather than a direct debit, however from that perspective the bank has possibly broken it's contract by not paying on the due date.

 

This must happen fairly frequently and so should be allowed for, the bank may say that they can't pay it early but on the other hand that means they've decided by default to pay it late and thus should be liable for any expenses incurred.

[ColinW]

So the bank are saying they give the computer that handles standing orders a day off at Easter? What a crock of ....! What does it do, hide easter eggs round the office for the coffee machine to go and look for?

 

Name the bank. If nothing else you can stop the rest of us using them.

[ayjay]

Name the bank. If nothing else you can stop the rest of us using them.

 

I doubt there's much to choose between them given the same circumstances.

 

A less vindictive attitude from the finance company would solve Dens problem.

[poledark]

To be fair to Virgin, the guy I spoke to (unfortunately a foreigner who I had difficulty understanding) did offer to reduce the interest by 50%, but it still meant that as I had "defaulted" then interest would be charged each month. He then offered to start a new contract with no interest for a further 16 months. At least, I think that is what I agreed to

 

Still not heard back from the bank..............

 

Den

[poledark]

Good news My bank can't help as they insist that the SO was paid one day before the due date, and I have to agree that they are correct.

 

So back to Virgin, and this time I got an English speaking person. All sorted, interest refunded, but we have set up a Direct debit so this can't happen again

 

Den

[chesters1]

we get peed off with DD's occasionally ,usually only whats in the bank is enough money to pay the DD's .this works well untill the DD is drawn (or tried to be drawn) early

DD's are less secure (anyone can draw one on your account without a sig so watch that statement) and rely on the drawer to keep to the agreed date ,standing orders i believe (never had one though) are far less hassle as the bank? decides when its paid but with standing orders a fixed amount can be specified only so less suitable for bills that change ,DD's can be any size the drawer wants

Edited May 8, 2009 by chesters1