Streaming issues? Report here
CapeTalk logo 2017 1500 x 1500 CapeTalk logo 2017 1500 x 1500
Best of CapeTalk
22:00 - 00:00
volume_up
volume_mute

Up Next: Early Breakfast with Africa Melane
See full line-up
Best of CapeTalk
22:00 - 00:00
Home
arrow_forward
Business

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.

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?


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

More from Good to Know with Wendy Knowler

Loan lending

Payment holidays from the banks - can they be trusted?

25 March 2020 7:57 PM

Consumer Ninja, Wendy Knowler, on payment holidays from banks in which you get a break from interest and repayment of debt.

Share this:
Read More arrow_forward

Missing Image Placeholder

The horror of the late Christmas champagne

12 February 2020 7:52 PM

Wendy Knowler, consumer journalist, this week talks about the frustrations online shoppers in South Africa have to deal with.

Share this:
Read More arrow_forward

cellphone-phone-mobile-device-woman-shocked-laptop-technology

How to stop a thief from getting his hands on your phone Apps

5 February 2020 7:50 PM

Wendy Knowler, consumer journalist, on how to safeguard your phone - most importantly - the banking details on your phone apps.

Share this:
Read More arrow_forward

Missing Image Placeholder

Only Germans take Black Friday more seriously than South Africans

28 November 2019 3:52 PM

In South Africa, Black Friday has become a spend-fest of epic proportions, says consumer journalist Wendy Knowler.

Share this:
Read More arrow_forward

Missing Image Placeholder

We paid before the family arrived with the body – Old Mutual

21 November 2019 9:25 AM

Consumer journalist Wendy Knowler investigates after a poor family’s desperation to get a claim paid made headlines.

Share this:
Read More arrow_forward

Phone

Can’t find your phone? Drop everything – thieves can get into your banking app!

14 November 2019 10:55 AM

Did someone steal your phone? Contact your bank without hesitation warns consumer journalist Wendy Knowler.

Share this:
Read More arrow_forward

Oops mistake

If you make a mistake when transferring money (EFT) you don’t get it back easily

31 October 2019 1:13 PM

Made a mistake when paying by EFT? You're going to battle to get your money back, warns consumer journalist Wendy Knowler.

Share this:
Read More arrow_forward

Visa

Travelling overseas? It’s becoming vital to get 'visa denial insurance'

24 October 2019 1:55 PM

Consumer journalist Wendy Knowler explains how to get reimbursed if you can’t travel after a failed visa application.

Share this:
Read More arrow_forward

cards

Are 'tap and go' cards safe? Maybe, suggests this case involving Standard Bank

18 October 2019 10:23 AM

Handsfree pickpocketing is a myth, says consumer journalist Wendy Knowler. But risks remain, suggests a case she took on.

Share this:
Read More arrow_forward

Audi

Used-car buyer? Save yourself a world of pain by asking this one question

10 October 2019 2:57 PM

Wendy Knowler says dealerships don’t do much to explain how you may unknowingly void your warranty and service/maintenance plans.

Share this:
Read More arrow_forward