CC interest charge due to change over of direct debit

Lfujay on 10/02/2017 - 10:02
Last edited 10/02/2017 - 10:04

Dear be-loved community,

Looking for any suggestions on whether I should paying related interest?

Story follow timeline:

  • Set upped a direct debit on paper form to pay FULL balance of statement
  • Recently change to a new bank account for direct debit, completed the request on credit card bank's website, by memory there was no field to tick on whether to pay full/minimum balance (call center confirmed as they said no option was selected)
  • most recent direct debit done on minimum balance, therefore lead to interest charges

I have done:
- Called the credit card bank, they said as no tick was provided, and default option is minimum balance
- Tried their online direct debit change again, there seems it is now with different option to pay full/minimum balance now

What would you say?

Financial

Comments

  • FirstWizard on 10/02/2017 - 10:18
    +1

    Something similar happened to me with Commbank a few years ago. However, as soon as I realised my mistake (a couple of days later) I paid the full amount via BPay and called up the bank. I told them that for the past 3 years that I've had the card I have always paid the full amount at the end of the month, and it was an honest mistake to have selected minimum payments instead of full.

    The lady on the other end was kind enough to reverse the interest that evening.

    • fujay on 10/02/2017 - 10:20

      Thanks for your shared experience.

      My experience with call center sounds like they blaming me for the fault, but will give it another go.

  • justhooked on 10/02/2017 - 10:32
    +1

    Had basically the same thing happen , call centre said no so I spoke to the department that deals with cancelling the card told them I was cancelling the card due to this happening and they reversed it . I had the card for 2 years and had paid the full amount all the time . They didn't want to loose me as a customer

    • fujay on 10/02/2017 - 10:41
      +1

      Will definitely try your way next time calling.
      I've had mine more than 3 years always paid full on time, hopefully the they take the valued customer card.

      • R-Man on 10/02/2017 - 11:28
        +2

        Hi, just adding in the same experience. Dad always pays full balance at the due date for so many years but then missed the due date one time. Call centre were happy to refund the interest charge in good faith. Did not need to threaten cancellation but I'd say that's a good move too.

        • fujay on 10/02/2017 - 13:35

          Thanks for the tip.
          My initial struggling is their online form for direct debit changes doesn’t have a selection of full/part balance, so at the time of change I wasn't given any option. And heir own decision to default it as “minimum balance” leads to current situation, even my original DD is on full balance.
          But would be not possible to prove my memory.

  • Aniseed Steed on 10/02/2017 - 15:53
    +1

    If it was just an honest mistake and your account has always been kept in good order, I have found most banks/financial institutions will usually reverse the charge if you contact them as soon as you realise your mistake and explain the situation.

    Also, try other avenues of contact like email, Twitter and Facebook messaging if the customer service rep. at the call centre refuses to budge. Persistence is the key to getting what you want.

    • fujay on 10/02/2017 - 16:14

      I might get over it after a sleep, but I feel like their online direct debit form had a bug before, and came without an option for full balance, as a result it defaulted to minimum balance.

      Surely will try with patience.

  • John Kimble on 10/02/2017 - 22:27
    +1

    Yep, HSBC told me they are only allowed to waive interest once every calendar year for good customers. Dunno if they were just saying that, or its a system restriction or just a policy…

    Also, I would probably say it was your error and there was an option to pay in full that you missed… It seems super coincidental that they would have suddenly had the option the second time around…

    • Aniseed Steed on 11/02/2017 - 13:15
      +1

      I've been told the same thing by both a credit union and by 28° MasterCard so I believe it is probably an industry-wide practice.

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