* * Got Taken By Bank One *- *

Discussion in 'Credit Talk' started by lbrown59, Jul 12, 2004.

  1. lbrown59

    lbrown59 Well-Known Member

    Master card & Visa was due 6-26-4
    Made payment at the drive through branch 6-26-4
    Got my statements today and there was a $35 late fee on each account.
    Date credited was 6-28-3.
    Isn't this a violation?
     
  2. aletes

    aletes Well-Known Member

    Sorry to hear that and thanks for the heads up.

    Bank One has been blasting me with Platinum credit card offers for the last month. The offers just found a new home ... In the shreader.
     
  3. jam237

    jam237 Well-Known Member

    What time was the transaction, if it was after a certain time, usually around 2 PM, then typically any transaction occurs the next business day.

    Hmm, just checked, since the 26th was a Saturday, it would probably be an automatic next business day transaction. ;(

    Did you get a receipt, and what date is stamped on the receipt?
     
  4. lbrown59

    lbrown59 Well-Known Member

    6-26-4
     
  5. jlynn

    jlynn Well-Known Member

    Have you tried being nice to see if they would take it off?

    BTW - I don't think Saturdays are considered legal banking days.
     
  6. jam237

    jam237 Well-Known Member

    I'll second jlynn...

    Send a nice, sugary sweet goodwill letter, with a copy of the receipts showing 6-26-2004, and ask that both late fees be removed. :)
     
  7. lbrown59

    lbrown59 Well-Known Member

    BTW - I don't think Saturdays are considered legal banking days.
    +++++++++++++++++++++++++++++++++++
    Yer rite jlynn Saturdays aren't considered legal banking days, however the law says payments must be credited as of the date received.
    The payment was received 6/26/4 & I have the receipt to prove that.
     
  8. lbrown59

    lbrown59 Well-Known Member

    Re: Re: * * Got Taken By Bank One *- *

    Then using this same standard Saturdays wouldn't be a legal due date.
    I haven't seen anything in the consumer laws saying one don't have the right to pay a bill on a day an establishment is closed.
    If anyone has please show that to me as I'm eager to learn.
     
  9. Hedwig

    Hedwig Well-Known Member

    Re: Re: * * Got Taken By Bank One *- *

    But they can put a time on it that it must be received--say 11 AM, to be considered on time. Usually somewhere either on the statement or in your account terms, it says "payment must be received by xx AM (or PM, but usually AM) to be considered paid" on that date.

    There was a lawsuit some years ago about posting, and that was the agreement of how they could avoid all the court cases, by disclosing the time that payment could be made.

    If you've never had a late pay before, or not within the past year, a nice phone call will usually take care of it with Bank One (or it did with First USA, anyway).

    The best way to avoid this is to pay online. I don't know for sure about Bank One, but BofA says on their website that if payment is made by 11:59 PM online, you will see a late payment fee on your statement but it will be reversed the next month. They only do it for online payments, payments made at a branch must be made before 2 PM on the due date. If the due date is a non-banking day, payment must be made by 2 PM on the previous banking day to be considered timely.
     
  10. kenwjones

    kenwjones Well-Known Member

    Re: Re: * * Got Taken By Bank One *- *

    A legal banking day is a day that the Federal Reserve Banks are open - which does not include Saturdays. Banks are open on Saturdays for customer's convenience only, and aren't legally required to be.

    Ken
     
  11. GEORGE

    GEORGE Well-Known Member

    Re: Re: * * Got Taken By Bank One *

    SORRY you needed to pay on FRIDAY (before 3pm)

    SATURDAY is not a banking day...

    JUST CALL AND ASK or DEMAND removal of the fee...

    Why didn't you PAY ON-LINE...I ALWAYS DID BEFORE THEY CUT ME OFF...

    IF YOU PAID ON-LINE ON FRIDAY NIGHT...FOR SATURDAY...THE ON-LINE PAYMENT WOULD HAVE BEEN CREDITED...WITH NO LATE FEE
     
  12. Hedwig

    Hedwig Well-Known Member

    Re: Re: * * Got Taken By Bank One *

    Hey, GEORGE, good to see you!!!
     
  13. GEORGE

    GEORGE Well-Known Member

    Re: Re: Re: * * Got Taken By Bank O

    If this web site was any SLOWER...I would have got your response TOMORROW
     
  14. lbrown59

    lbrown59 Well-Known Member

    Re: Re: Re: * * Got Taken By Bank One *- *

    This is an aside from the fact that the law requires payments to be credited on the date received.
    I have a receipt clearly showing the payment was received on 6-26-4 not 6--28-4.
     
  15. Hedwig

    Hedwig Well-Known Member

    Re: Re: Re: * * Got Taken By Bank One *- *

    Where does the law say that? I think that the law says they have to disclose their posting practices. I've never seen any law that dictates how they have to process or post payments. Please cite a statute.
     
  16. pd11604

    pd11604 Well-Known Member

    Re: Re: Re: * * Got Taken By Bank One *- *

    If you actually go into my bank on a Saturday, and go to the little counters they have for filling in deposit slips, etc. They have the date posted on the counter. On Saturdays, the date is always set to show the following Monday!
     
  17. Flyingifr

    Flyingifr Well-Known Member

    Re: Re: Re: Re: * * Got Taken By Bank One *- *

    And my bank has signs on the tellers counters saying "any transaction after 9AM will be posted teh following day".

    No, I'm NOT kidding. The bank opens at 9AM and already it's tomorrow.
     
  18. jam237

    jam237 Well-Known Member

    Re: Re: Re: Re: * * Got Taken By Bank One *- *

    Hmmm, I wonder if you get hired there, if you could show up for work a day late, and use that as an excuse. :)
     
  19. lbrown59

    lbrown59 Well-Known Member

    * Got Taken By Bank One *- *

    my bank has signs on the tellers counters saying "any transaction after 9AM will be posted the following day".
    Flyingifr
    ==================
    But they won't be paid the next day.

    A-50-C
     
  20. lbrown59

    lbrown59 Well-Known Member

    Re: Re: Re: * * Got Taken By Bank One *- *

    LBrown59


    Where does the law say that? I think that the law says they have to disclose their posting practices. I've never seen any law that dictates how they have to process or post payments. Please cite a statute.
    Hedwig
    =======================
    Posting and payment dates have nothing to do with each other.

    B D B
     

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