To DD or not, that is the question...

[lizzie47]

I must say, I will never understand why people in precarious financial situations ever pay by d/d, which give THEM all the power of how much comes out and when...

This is not addressed solely to you, btw!

 

 

 

HI Bookworm

Have read loads on this site and almost always found your replys informative,well thought out and 99.9% fair and accurate.

I was shocked by your last post and feel have to reply to your "off" remark asking why do people in a bad way with money go the D/D route,must say this irked me,Its because they have to.

Im disabled,any money i have is benefits,I dont have credit cards any longer,Its not as easy as pick up the phone and pay by card (taken off me)!!Nor do i have a cheque book(taken off me).Are you sugesting i pay all by cash,or porstal orders? There is no longer a gas or electric office in my town,nor does my mortgage provider have a branch any where near etc.etc,I as millions of others do not have a viable choice.And have been forced into this situation.Have you any alternative to the banks,i hate the buggers always have.Would love an old "under the mattress"account but this will never happen.Awaiting your reply

 

regards lizzie

[Bookworm]

It's not an "off" remark at all. It's a remark based on personal experience first, and compounded by the examples I read here and on MSE every day.

 

Viable alternatives to d/d: standing orders. You give instructions to pay, you dictate the date, you dictate the amount. Most companies will accept standing orders. They might not like it, because they'd much rather they had the control, but I can assure you from personal experience that what they want most of all is payment.

 

You're disabled. That means you get DLA, right? So, paid 4 weekly. A large amount of companies pay themselves monthly. Sooner or later, your payments are going to be out of sync with the d/d. Yes, you get 13 payments, but how many people do you know in dire straits who can put the money aside nearly 1 month ahead for a future d/d when there's hardly enough money to go round? Not many, I'd bet.

 

Do I have an alternative to banks? No. Maybe surprisingly considering what I do here, I have no desire to see those venerable institutions disappear. Banks have a use in society. I would very much like to see them heavily reformed and brought under a firm thumb, and forced to confirm to the law, and made to deal more sympathically with the more vulnerable elements of our society.

 

I know that we only started coming out of the spiral of debt once we took control. That meant Internet banking, and Standing Orders. For the first time in our lives, we say what goes in and out of our bank accounts.

 

I stand by what I say: Direct Debits are the means for THEM to dip into an account pretty much as they please. I refuse to let them have that control.

 

If you have a bank account, you should have the means to access your money. Are you saying that the only way you can get money is by going in a branch and withdrawing over the counter? If that is the case, I suggest you make a stinking complaint, as you should be allowed at least a cashcard.

 

I'm happy to carry on discussing this, but we'll have to start a new thread if that's the case, as we're currently hijacking Peepo's.

[lizzie47]

Hiya

Thanks for speedy reply and expanding on your comment,Much appreciated,am lot clearer as to what you intended.feared i was hi jacking...(sorry peepo) would love to start thread,could you move this ? or should i start my own ?.Am green computer user,let alone the net,By your reply not so ripe on banks either :confused:am very slowly learning more about both,an both hard work but worth it ,I hope:oops:

 

 

 

Thanks

[Bookworm]

Done. Hope you like the title!

[Bookworm]

Actually, you got me thinking (doesn't happen often, make the most of it!) about your situation.

 

Do you have no card at all? Or only a cashcard? Can you do anything with it apart from withdrawing cash?

 

It's just it seems to me there is a glaring injustice in not being allowed to use your money for.. well, Internet shopping, for instance. Disabled persons are prime candidates for benefiting from home shopping deliveries, but if they can't shop online, a whole range of help will be closed to them, even if they do have the money...

 

There's something bugging me there...

[lizzie47]

Hiya

 

Title is ace very funny

Thanks for moving me ..didn,t feel a thing..glad i got you thinking

Do indeed have just cash card..an yes its annoying.. only recently got dla(after a fight),got it early this year ,had accident at work jan 2003. been nightmare always worked an not the first clue where to start with benefits.severe money worries took me to the c.a.b.they great.i was minus £70 per wk that was after taking into account essentials, nothing else,had been that way 3yr,Am registering for net banking,Swotting up bout S.O "v" D/D an any thing else i can learn as nothing short of lottery win is going to change my finances an i need to get more sorted.pared down in every area i can (honest bet even martin lewis would struggle to "make me rich")so thats only area i can hope to make some change.Got damage/negligence claim hitting courts in september but who knows how that will go so have to prepare for worst.Any tips advice re banking or otherwise more than welcome:)

 

Regards Lizzie

[thecornflake]

It's just it seems to me there is a glaring injustice in not being allowed to use your money for.. well, Internet shopping, for instance. Disabled persons are prime candidates for benefiting from home shopping deliveries, but if they can't shop online, a whole range of help will be closed to them, even if they do have the money...

 

There's something bugging me there...

 

Possibly the disability rights act? No company has the right to refuse service to someone purely because of their disability.

 

Therefore, I believe if someone is internet shopping because they can't get to the shops easily they have the right to the same service as an able-bodied person who could go to the shop directly.

 

I'm not sure exactly how this works though as the issue would be choosing not to have a debit/credit card rather than being disabled. It is however your right to choose not to have a card...

 

I agree with Bookworm on Direct Debits - I realised a while ago how much of a blatant [problem] they are. The banks and companies you have DDs with both charge you if it fails, and they can take their money whenever they want.

 

I had Natwest Mortgages try to take 4 payments in January. The last three failed of course due to insufficient funds. And although they admitted these were made in error they refused to refund the charges as I had 'behaved badly and missed payments in the past'.

 

I do like the idea of using standing orders - do most companies accept/have to accept these?

[lizzie47]

Hi cornflake

RE- so v dd (dont know how to quote posts yet but old dog slowly learning new tricks )

Huummmnn yes we live an learn eh

sure as eggs is eggs am going to try change dd to so (cheers bookwrm)

[thecornflake]

Lizzie,

 

To quote a post just click the Quote button at the bottom of the specific post you want to quote. this will start a reply with the post in there between

tags. You can edit out parts you don't need to quote. Anything within the tags will appear as a quote when you post your reply.

[lizzie47]

Lizzie,

 

To quote a post just click the Quote button at the bottom of the specific post you want to quote. .

 

 

Brilliant thanks(still got my computer "L" plates

[mechs]

I have found this thread greatly interesting. We do internet banking so is it a case of phoning the relevant companies and getting their details and then we personally delete the DD?

[lizzie47]

I have found this thread greatly interesting. We do internet banking so is it a case of phoning the relevant companies and getting their details and then we personally delete the DD?

 

 

Not sure am in first stages of registering...(First stage in lot of things of late ) If you find out first let me know an ill do the same..If any one else knows how we change..Please do tell..An any other tips to help

[thecornflake]

I don't think the companies can legally stop you paying by standing order but this will firstly only work when the payment is the same each month, and secondly they may try to get away with charging extra. For example, Sky are currently charging me £4 extra a month because I'm not paying by DD. I do intend to contest this charge as I believe the extra cost to them of sending out a bill is less than this.

 

However, paying by standing order isn't really any different from DD so I don't think they would get away with it as easily.

 

I'll be interested to see how you get on. Also whether you get charged when a standing order fails - no mention of charges for this in my bank contract...

[lizzie47]

Thanks cornflake

 

Suspected it would have to be same amount each month at least thats the mortgage,gas,lec,t.v licence,tinternet(by heck would sell kids first before that goes now)that i can start with, which dont leave a lot phone,(on it to change to reg outgoing)water rates,ill ring them, think thats it then,As you say though banks still have it stiched up for charges,But not for long i hear you all say

Out of interest have you been on the penaltycharge site ? "Bankhell" going same route as you with sky

 

Thaks for taking time out to reply

ill keep posting

[thewifeandI]

Hi,

 

Wouldn't a manual payment via online banking be a better option (if this option is available with your account)? That way you have full control of the date and amount. With a SO it may still come out when the money isn't available.

 

The downside of removing DD is that many organisations give a discount for paying that way which you will lose - but it may be better if you get to retake control over your payments.

 

Cheers.

[lizzie47]

Hi,

 

Wouldn't a manual payment via online banking be a better option (if this option is available with your account)? That way you have full control of the date and amount. With a SO it may still come out when the money isn't available

 

Thanks jeep n wife

Yes bet it would be better to pay as bill is due like "olden days :grin:".Forgive me for being thick but will that mean paper statements or would they bill you via"tinternet" Yes i was thinking you would still be charged for a missed or late payment by SO an bet it not much less if any cheaper than DD,But then i suppose you would not get hammered from other side for it not being there to take ! think im whats termed a silver surfer and have a lot to learn bout technology,an banking.thanks all for enlightenment

[thewifeandI]

Thanks jeep n wife

Yes bet it would be better to pay as bill is due like "olden days :grin:".Forgive me for being thick but will that mean paper statements or would they bill you via"tinternet" Yes i was thinking you would still be charged for a missed or late payment by SO an bet it not much less if any cheaper than DD,But then i suppose you would not get hammered from other side for it not being there to take ! think im whats termed a silver surfer and have a lot to learn bout technology,an banking.thanks all for enlightenment

 

In most cases I get a paper bill anyway - phone, cable, CCs, etc. The others like gas & lecky, mortgage, loans, etc. are on fixed payments (mainly). Once a week you log in to your account and pre-book the payments that are coming due, making sure that you have enough to cover them and wherever possible they are paid on time. You even have the option of making a part payment to show good faith if there's not enough and you are waiting for something to clear, etc.

 

If a SO is unpaid you get charged by the bank just the same as a bounced DD or cheque - but at least the payee doesn't get to retry and force extra charges on you.

 

Just my thoughts on the matter - I don't know how well it would work in practise - but it's definitely what I'm thinking of doing when I get my refunds - I need to get back control of my money and stop funding the bank's boardroom!

[lizzie47]

- but it's definitely what I'm thinking of doing when I get my refunds - I need to get back control of my money and stop funding the bank's boardroom!

 

Here Here

 

 

learning more every day thanks for your time and imput it realy helps:)

[lizzie47]

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