[Michaelcarts]

Usually I pay my full balance by direct debit, which is usually taken from my bank around 5 days ahead of the due date. Last month, to ease cashflow I converted the DD to minimum payment only with the intention of paying the rest of the statement balance manually a few days later, but still by the due date, so as to avoid the punitive interest charges.
For the sake of argument lets call the numbers as follows.
Statement balance £5000
Minimum payment £50
My original intention was that my manual payment would be £4950, in the belief that together with the minimum payment DD this would clear the full statement balance.
In the event, I made the manual payment the full £5k, and I'm now very glad that I did.
Because I've since noticed that the minimum payment DD for £50 wasn't taken from my bank until the day AFTER the due date.
Does this mean that had I only paid £4950 in the manual payment I would have been liable for a large interest charge ?
An answer from someone representing TescoBank would be most appreciated.

[Michaelcarts]

@Michaelcarts
So it seems this community doesn't include anybody who actually represents TescoBank.
Doesn't that kind of diminish its ability to achieve anything useful ?

[ChristopherP]

@Michaelcarts Hey there, thanks for getting in touch!

I'm sorry you didn't receive a reply. If you were charged interest in the event of a Tesco Bank/system error (like you've outlined in your original post) then you wouldn't be charged interest.

I hope this clarifies things for you.

[Michaelcarts]

Thanks for the reply ChristopherP.
But unfortunately it doesn't completely answer my question, because you've included the condition of it being a system error.
But the scenario I outlined wasn't a system error as TescoBank says that a minimum payment DD will be collected on OR AROUND the due date.
And I therefore believe that I only escaped an interest charge because my manual payment was for the full amount. So please re-read my original question and give it the honest answer........ which I expect will be that "yes, I would have been charged interest in that specific scenario".
And then ask yourself.... would that have been fair ?

[ChristopherP]

@Michaelcarts I have given you an honest answer. In this specific scenario you wouldn't be liable for interest. If it was applied to your account, it would have been refunded. If your payment was taken a day late it suggests that it was due over a weekend, or a bank holiday, or a system error. As these things are out of your control, interest wouldn't have been applied.

If you'd like to discuss this in more detail you can speak to the Credit Card team directly. You can reach them on 0345 300 4278 (Mon - Fri: 8am to 9pm, Sat - Sun: 8am - 6pm) and they'll be happy to help.

To speak to one of my colleagues, please choose option 2 and enter your security details, then press 0. If you don't have any details to hand, just press 0 and you will then be passed through.