no interest charges if cleared 25 days after next billing date
Thanks. If the fiver €4.50 charge is just for peace of mind then so be it. I really should get my act together on such matters!I have an NIB current account used solely for a mortgage. I transfer in literally the exact amount every month so there is no overdraft facility. A couple of times your scenario has happened where the mortgage is taken out over the weekend but the TRS isn't applied until Monday so it appears as if i'm overdrawn over the weekend. Nothing happens though and no charges are incurred and the TRS hits first thing Monday.
You'll be fine
[broken link removed]i think all credit cards start to charge interest from the day of withdrawal unless your account is in credit so you might want to check in case you get a surprise with your next bill
10. INTEREST AND CHARGES
...
(10.1)(b) Cash Advance/Cash Advance Fee - Interest will not be charged on the amount of cash advances or cash
advance fees which are repaid in full and credited to the Visa Card account within 25 days of the date of the
statement of account on which those cash advances first appeared. In the case of (1) part payment (2) full
payment received after 25 days of the date of the Cardholder’s statement of account on which the cash
advances first appeared, the Cardholder’s interest free period will apply from the date of the cash advance until
the date of the Cardholder’s statement.
OK - I screwed up a bit this month and have too little in the current account to cover a DD that is due (money transferred from, er, NR the other day hasn't hit the account yet). This DD falls due tomorrow but technically will be drawn on Monday according to the payee. However I have seen such DDs appear online at the weekend and dated on the Saturday/Sunday so I'm not sure how this works. Will this DD hitting the account over the weekend cause a problem (bounce or overdraft) if there is no money to cover it.
Hope I explained that OK!?
Yeah - I was surprised about this too when I read up on their cash advance rules. The new IFSRA It's Your Money site is also a good source of this info and easier to navigate since the revamp.i stand corrected - might switch my card to them too!
Thanks. I rang my branch earlier today asking about a temporary overdraft facility in case that was needed but they needed me to drop in and sign stuff for that. I asked if a DD or other withdrawal hitting the account without sufficient funds would necessarily cause problems (and what - unauthorised overdraft or a bounced DD etc.) and they didn't seem to know. Your man spoke vaguely about there being some "flexibility" in such situations but he couldn't tell me how "flexible" my specific account was. I gave up asking at that stage and opted for the CC cash withdrawal solution...Hi Clubman,
Ive seen you solved the problem (with the credit card), I had the same issue some years back and rang the bank (AIB) they said they would honour the DD assuming the monies arrived within 48hours (which was the case with my delay).
Account Balance Available balance
Switch Current A/C 2835.39 2835.39
Date Description Amount Balance
17/09/2007 permanent tsb VISA -310.00 2835.39 +
17/09/2007 <DD> -750.00 3145.39 +
17/09/2007 <Transfer> +3000.00 3895.39 +
14/09/2007 ATM withdrawal -40.00 895.39 +
Just to confirm that as confirmed by my latest statement the only charge for the €300 cash advance on the PTSB VISA card was the 1.5% (€4.50) cash advance fee and no interest or other charges applied.i stand corrected - might switch my card to them too!
I have a DD come out of my UB account every month on the 15th to repay a UB car loan. The online system shows it as a pending transaction with a date of Monday the 17th but it has already been taken from my available balance two days before the transaction date.
Two payments out of the account I made yesterday after 11 am are shown with application dates of the 15th rather than the 17th.
I'd love to read a clear explanation of how it works.
Hi Clubman,
Ive seen you solved the problem (with the credit card), I had the same issue some years back and rang the bank (AIB) they said they would honour the DD assuming the monies arrived within 48hours (which was the case with my delay).
HTH
cas
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