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Are banks and corporates allowed to activate early December payment?

11 December 2019 8:18 PM
Tags:
Debt
debit order
consumer corner
Wendy Knowler looks into the practice of many banks and corporates of “unilaterally” activating an early debit for December payment.

Wendy Knowler looks into the practice of many banks and corporates of “unilaterally” activating an early debit for December payment.

Many people get paid early in December and banks and corporates want to grab their share before it’s all spent on festivities.

Is it legal? Only if you gave your consent to a clause in the contract.

They just 'gaps' the money and it makes people cross.

Wendy Knowler - consumer journalist
Picture: Supplied.

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This article first appeared on 702 : Are banks and corporates allowed to activate early December payment?


11 December 2019 8:18 PM
Tags:
Debt
debit order
consumer corner

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