Credit Card Payment Qn


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dragos

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#1
Hi all, I have a "stupid" qn.

I have some credit card bills which are due on 25 Aug.

Can I date my cheque on 25 Aug or it must be earlier?

Because I have some payments coming in on 25 Aug.

Thanks.
 

KNIGHT ONG

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Dec 18, 2003
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#2
You can .. you can also drop it into their quick cheque deposite box .. :)

Do take note now Banks work 5 days week .. so no clearing on saturday and sunday .. dun know how it going to affect your cheque clearing .. so drop it early before they collect ard 2-3pm ..
 

ernest_ted

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#3
KNIGHT ONG said:
You can .. you can also drop it into their quick cheque deposite box .. :)

Do take note now Banks work 5 days week .. so no clearing on saturday and sunday .. dun know how it going to affect your cheque clearing .. so drop it early before they collect ard 2-3pm ..
no clearing from Fri-Sun.

Now bank clearing is only from Mon-Thurs and excl pub hols

which means for the payer u will out of money
for payee u will not get your money until Mon after 2 or 3pm
 

KNIGHT ONG

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#5
dragos said:
i was planning to mail on 23 Aug, they shd get it on 24 Aug, but I date it on 25 Aug mah....so can?
why dun you date it on 25 Aug and drop it to any branch of the credit card bank on 24 Aug nite or early 25 aug ... before collection.
 

Nisa

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Aug 13, 2004
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#9
your payments coming in on the aug 25 ? are they chq? cause it will only be cleared on the 28th, which mean your funds will only be available on the 28th. Should your credit card companies, most likely another bank, decided to treat your chq as taken in on 25th of Aug, and should there be insufficient funds in your accounts, your checking account bank would most likely dishonored ur chq.

If i were you, i would date my checks on the 28th of Aug and mail it out on the 26th of Aug.
 

dragos

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#11
Nisa said:
your payments coming in on the aug 25 ? are they chq? cause it will only be cleared on the 28th, which mean your funds will only be available on the 28th. Should your credit card companies, most likely another bank, decided to treat your chq as taken in on 25th of Aug, and should there be insufficient funds in your accounts, your checking account bank would most likely dishonored ur chq.

If i were you, i would date my checks on the 28th of Aug and mail it out on the 26th of Aug.
the funds will be in on 25 Aug midnite...via interbank.
 

jOhO

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#12
send in your cheque on 24 let it arrive on 25.

even if the cheque takes a while to clear, most banks have a grace period.

if they do charge a late charge, call to waive.

if u are very very kiasu, pay the minimum b4 the due date, and the balance before the statement cycle, as interest is usually calculated on stmt cycle date, but late charge levied on due date.

in other words, (USUSALLY) this happens.

eg:

due date : 25 aug
bank will charge late charge if MINIMUM payt is not received by this date.

stmt cycle date, the date that your stmt is generated : 2 sept
bank will charge interest if FULL payt is not received by this date.

check with ur bank to clarify wat i've mentioned above.

source of information : i was a phone banking officer for 2 years.
 

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