[Anna12345]

Good morning,

We have a Tesco bank credit card which we pay off in full every month. Our last statement which was paid in full via direct debit yesterday showed that we needed to pay e.g. £4000, however the amount which has come out of the bank is £3500 (£500 less). We have had a number of refunds (£600) worth paid back in during the previous and current statement periods and I assumed that only those which came back in during the previous statement period would take effect for this payment, and then the remainder would be adjusted next month - but the majority have come out now (which is fine). However, I can’t work out where the other £100 of refunds are. The amount deducted doesn’t match the full amount of refunds. The difference in the two amounts also doesn’t add up to any of the most recent refund amounts which I thought might be the reason (I.e. it would take effect next month). Hope that makes sense and any help to understand this is greatly appreciated. ☺️

[Joanne-D]

Hey @Anna12345, thanks for getting in touch.

If you have the full statement direct debit in place and any refunds/credits come in before the "assessment period" which is 3 working days before your direct debit collects, these refunds will be deducted off the amount we collect by direct debit. Any refunds that come in after the assessment period will go towards reducing the overall balance on the account.

To check this is calculated correctly, look at your latest statement, start with your previous statement balance, add on any transactions and deduct any payments or refunds. This will give you the figure of your new balance shown on your statement.

I hope this helps😀.