Are banks and corporates allowed to activate early 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
Listen to the soundclip below:
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning.
This article first appeared on 702 : Are banks and corporates allowed to activate early December payment?
Consumer Ninja, Wendy Knowler, on payment holidays from banks in which you get a break from interest and repayment of debt.Read More
Wendy Knowler, consumer journalist, this week talks about the frustrations online shoppers in South Africa have to deal with.Read More
Wendy Knowler, consumer journalist, on how to safeguard your phone - most importantly - the banking details on your phone apps.Read More
In South Africa, Black Friday has become a spend-fest of epic proportions, says consumer journalist Wendy Knowler.Read More
Consumer journalist Wendy Knowler investigates after a poor family’s desperation to get a claim paid made headlines.Read More
Did someone steal your phone? Contact your bank without hesitation warns consumer journalist Wendy Knowler.Read More
Made a mistake when paying by EFT? You're going to battle to get your money back, warns consumer journalist Wendy Knowler.Read More
Consumer journalist Wendy Knowler explains how to get reimbursed if you can’t travel after a failed visa application.Read More
Handsfree pickpocketing is a myth, says consumer journalist Wendy Knowler. But risks remain, suggests a case she took on.Read More
Wendy Knowler says dealerships don’t do much to explain how you may unknowingly void your warranty and service/maintenance plans.Read More