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Simon Pieman
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« on: Saturday, July 12, 2008, 10:00:10 »

When you pay for something online/in the shop, when the transaction finally gets charged to your bank account, does that mean the retailer has received the payment as at that date?
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Samdy Gray
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« Reply #1 on: Saturday, July 12, 2008, 10:01:20 »

Yes, I believe so. Did you pay by debit card?
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axs
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« Reply #2 on: Saturday, July 12, 2008, 10:05:42 »

I bought something online yesterday and the bank transfer appeared immediately, think it just takes a day or two to confirm, once it goes bold on your online statement it should have cleared.
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Simon Pieman
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« Reply #3 on: Saturday, July 12, 2008, 10:16:20 »

I've made a payment online to my Virgin credit card, using my bank debit card. This works the same way as paying for something online/in a shop i.e. the amount doesn't hit your account straight away.

The amount is showing as hitting my bank account as an 'MAE' type transaction on the 26th June but Virgin are saying they got the money a day late. This has incurred a late payment fee and taken my 0% offer away. I'm going to phone them up anyway, as I didn't get the statement until a week before the first payment was due, but I just wondered what the deal with the payment was so I could use it as leverage if needs be.

It was a first payment and in my busyness I neglected to pay it sooner. I set up DD at the same time.
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Samdy Gray
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« Reply #4 on: Saturday, July 12, 2008, 10:20:18 »

Ah, if it's a payment to a credit card then it generally takes 3-5 working days.

With my credit card if I make an online payment it only lets me choose a date 3 days in the future so it basically starts the transaction off there and then but no money 'moves' until 3 days later.
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Simon Pieman
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« Reply #5 on: Saturday, July 12, 2008, 10:25:13 »

Ah, if it's a payment to a credit card then it generally takes 3-5 working days.

With my credit card if I make an online payment it only lets me choose a date 3 days in the future so it basically starts the transaction off there and then but no money 'moves' until 3 days later.

I made the payment a few days in advance but it didn't hit my bank account until a few days later. I guess what I was asking was when it hit my bank had the CC company got their payment?
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Bushey Boy

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« Reply #6 on: Saturday, July 12, 2008, 10:25:51 »

Transfers now take 2 hours not 3 - 5 days.  Credit cards may be different tho
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Simon Pieman
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« Reply #7 on: Saturday, July 12, 2008, 10:27:18 »

It wasn't a bank transfer as such though, I would have done that using my online bank account.

It was one where you had to the details as you would an online shop.
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Samdy Gray
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« Reply #8 on: Saturday, July 12, 2008, 10:31:36 »

I made the payment a few days in advance but it didn't hit my bank account until a few days later. I guess what I was asking was when it hit my bank had the CC company got their payment?

Ah right, I'd say yes they had your money then but hadn't 'allocated' it to your card.
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Simon Pieman
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« Reply #9 on: Saturday, July 12, 2008, 10:34:49 »

Ah right, I'd say yes they had your money then but hadn't 'allocated' it to your card.

It seems that way, I have just looked at all the FAQs and they say they allocate the payment the day after they receive it.
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Dazzza

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« Reply #10 on: Saturday, July 12, 2008, 17:02:34 »

Mayb take it up with customer services Si.  I have an MBNA card, which I think Virgin just brand and pass of as their own and I always pay via debit card on the final day or a couple of days before and although the amount takes a couple of days to show up on my online account and credited to the credit card I never get hit with late fees.

I guess Virgin must pass the details onto MBNA to debit and allocate even so it’s a bit cheeky and worth a punt.
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