Earth changed

[Chicken]

I Bpayed the payment on the 4/07/08 which was the due date

That was a Friday. Did you BPay after cut off time of your bank?

If you had B Pay sent before cut off time on that Friday, then your payment would be sent for clearing that night, arriving in your Citibank credit card Sat morning.

If you did your B Pay on that Friday after cut off time e.g. evening, then your B Pay had missing Fri night / Sat morning clearning, so it was queued for the next clearning. There is no clearing on Sat night, no clearing on Sun night, so the next clearing is Monday night / Tuesday morning. Translates to your payment being 3 days late.

Why did you leave it the last minute? This is not the fault of Citibank, but your own.

For the moment at least But yes, I recently made a purchase in a foreign currency and it only had the scheme charges on it.

Then we have nothing to worry about. At least WBC kept their end of the bargain.

[JohnK]

I thought one of the conditions in the bpay scheme was that payments were to apply from the date the bpay was made. Also, you should have some record from the bank as to when you did the bpay.

I do have a record of the BPay from my bank. I always thought that if I had BPayed on the due date all was OK. But obviously with Earth this is a problem.

That was a Friday. Did you BPay after cut off time of your bank?

I have no idea about the cut off time of CBA.

Why did you leave it the last minute? This is not the fault of Citibank, but your own.

I had just returned from overseas and then went to Brisbane for 3 days looking for accommodation beore starting work the week after. I had realised that I had forgotten to BPay and I did them Friday evening.

I accept responsibility but it is also not good enough for Westpac to continually hit me with a $35 late payment fee when they received the payment, albeit late according to them. They also keep changing the payment due date and I get confused as I am not that organised. Anyway that is no longer the point and I hope Westpac feel the $35 late payment fee is compensation enough for the $220+ a month they will lose in interest on the outstanding balance....

[Chicken]

I have no idea about the cut off time of CBA.

CBA is 6PM

it is also not good enough for Westpac to continually hit me with a $35 late payment fee when they received the payment, albeit late according to them.

It is actually late according to CBA, not WBC, because CBA creates a batch of payment to sent for clearing after 6PM, and if you do it after CBA done the batch, then CBA is not going to batch up your payment and send it to WBC until Monday night, hence WBC will get your money on Monday night, and have it marked as received as Monday night.

If you are that disorganized, maybe you should use direct debit, because you are going to get hit with penalty fee doesn't matter which bank you use.

[oz_mark]

I have no idea about the cut off time of CBA.

Cutoff times are usually around 6 pm, but not specificaaly sure about cba.

Edit:looked up cba it has a cutoff of 3pm

http://www.commbank.com.au/help/faq/...whenshouldipay

When should I pay my BPAY bill to ensure it is processed by the due date?
Payments made to BPAY billers by 3pm (EST time) Monday to Friday will be processed the same day.

If a payment is made to a BPAY biller, on a weekend or public holiday, or after 3pm (EST time) Monday to Friday, the payment may be processed the next business day.

[Chicken]

Cutoff times are usually around 6 pm, but not specificaaly sure about cba

It all depends on the bank.

CBA is 6PM, same with WBC. I think NAB and ANZ are also the same.

I use Metway, which is 4PM. HSBC also 4PM. Some credit unions have a very early cut off, as early as 2PM I have seen.

[JohnK]

If you are that disorganized, maybe you should use direct debit, because you are going to get hit with penalty fee doesn't matter which bank you use.

I can't setup direct debit as I do not have a central account and the money used to pay bills could come from a number of sources. I am not going to setup a direct debit account and ensure that there is always $3,000-$4,000 worth of dead funds sitting around in the account.

CBA is fairly lenient on my payments even to the point where if I have short paid, by accident, they include this in the next statement. Citibank is also fairly lenient in this regard. If I remember correctly Amex is quite good as well although I got hit with an overlimit payment fee recently with them.

[oz_mark]

Latest update:

Effective 1 October 08, Earth+ will be known as Earth Gold.

[Mal]

I accept responsibility but it is also not good enough for Westpac to continually hit me with a $35 late payment fee when they received the payment, albeit late according to them.

If you ever want to go searching for some 'lost' money...
CHOICE - Unfair bank penalty fees

[JohnK]

If you ever want to go searching for some 'lost' money...

Has anyone had any success with Westpac claiming any unfair late payment fees? Has anyone had any success with any other financial institution using the same approach in the Choice article?

I am about to close this account but I do have a list of the dates where I was charged a late payment fee.

[albatross710]

Has anyone had any success with Westpac claiming any unfair late payment fees?

I've certainly had success with Westpac with claiming bank fees.

One was a late payment fee on a credit card (due to Bpay and a long weekend)

Multiple times when my account has gone over the limit because of multiple direct-debits overnight. It might have gone over by say $50 and they charge a $40 fee. Unjust!

I urge everyone I met to challenge bank fees where the fees are not in proportion to the inconvenience caused to the bank.

Slightly OT: I am also taking offence to NAB (and others) over the past couple of weeks saying how they will immediately pass on any RBA rate cut because their borrowing costs have reduced. If so, what not just pass them on independent of the RBA...they were happy to increase their margin independently.

Alby