GE Credit Line.
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I recently received a letter from them outlining some changes that will take effect 30th March 2006.
I can only laugh at the joke because they can't be serious!
Quote:
Originally Posted by GE Credit Line
A payment handling fee of $0.50 will apply to your account on each occasion on which you use the online or telephone banking services of your financial institution to make a payment on your account
They are kidding! Right! Already charge $1.50 to pay at post. I think you can send them a cheque to avaid any fees? Fees on a payment? This is on top of 25% interest and $2.95/month account handling fee!
Quote:
Originally Posted by GE Credit Line
A trace fee of $30 will apply to your account on each occasion that we have to locate you if you have failed to pay the minimum amount payable by its due date, or any other amount payable under the contract when it falls due for payment, and you have failed to notify us of your change of address
This is hillarious! They must have hired out of work comedians!
Don't worry GE when the outstanding balance is paid off, you will never hear from me again.
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Like most financial institutions they know how to charge fees! I checked the Go Mastercard, and it already has the trace fee on it, but not the other (just the $1.50 for paying at Aust Post).
Looks like they are beginning to charge themselves out of the market.
They are not going to have my business for much longer.
The 25%/pa interest is a killer without having all these additional fees and charges. A couple of years ago I was charged $20 for having a $1.20 overdue amount from a previous month. I had rounded a payment down without realising what I had done.
This is the old AGC credit line card which you pick up from places like Bob Jayne and you get 6 months interest free to pay off purchases. One thing leads to another and before you know it the amount owing is substantial....
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Posts: 9,855
Diners Club charge a $0.75 "Payment Admin Fee" if you make your payment via BPay. I fail to see how they can justify a fee for an electronic payment method and no fee for processing a payment via cheque! Surely a cheque costs more to process than a BPay payment! I think they know that people realise using BPay is saving them a postage stamp, envelope (often provided with the statement) and any cheque account fees, so they think they can still get people to use BPay and pay the fee.
Diners Club charge a $0.75 "Payment Admin Fee" if you make your payment via BPay. I fail to see how they can justify a fee for an electronic payment method and no fee for processing a payment via cheque!
I cannot see how any company, not just financial, can justify charging a fee for paying a bill.
Amex charged $2 for paying account at Post office. I won't do that again, just use BPay.
Optus TV charges $2/month extra if you don't pay bill with direct debit.
Diners Club charge a $0.75 "Payment Admin Fee" if you make your payment via BPay. I fail to see how they can justify a fee for an electronic payment method and no fee for processing a payment via cheque! Surely a cheque costs more to process than a BPay payment! I think they know that people realise using BPay is saving them a postage stamp, envelope (often provided with the statement) and any cheque account fees, so they think they can still get people to use BPay and pay the fee.
I had always thought that was a bit of a rip off with Diners. The fact that they just sent me a notice telling me that my default date was changing to 14 days after the issue of the statement (from 21 days) is not helping them to keep me as a customer.
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