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Common use of Payments to your account Clause in Contracts

Payments to your account. (a) You must allow enough time for your payment to reach your account by the payment due date and for it to clear. Please see your statement for details. (b) You must not deliberately make payments that put your account in credit. (c) Refunds will not count towards your minimum payment unless they reduce your account balance to less than the minimum payment shown on your statement. If this happens, you will only have to pay any remaining outstanding balance shown on your statement. (d) We allocate payments to balances which show on your current statement in a high to low interest rate order, then, to balances in a high to low interest rate order which do not yet appear on your statement. If you have any arrears we will pay these off (oldest first) before we pay off amounts due under your current statement. (e) If you receive any payments in error and you’re not entitled to them, we will remove them from your account.

Appears in 3 contracts

Samples: Credit Card Agreement, Credit Card Agreement, Credit Card Agreement

Payments to your account. (a) You must allow enough time for your payment to reach your account by the payment due date and for it to clear. Please see your statement for details. (b) You must not deliberately make payments that put your account in credit. (c) Refunds will not count towards your minimum payment unless they reduce your account balance to less than the minimum payment shown on your statement. If this happens, you will only have to pay any remaining outstanding balance shown on your statement. (d) We allocate payments to balances which show on your current statement in a high to low interest rate order, then, to balances in a high to low interest rate order which do not yet appear on your statement. If you have any arrears we will pay these off (oldest firstfrst) before we pay off amounts due under your current statement. (e) If you receive any payments in error and you’re not entitled to them, we will remove them from your account.

Appears in 1 contract

Samples: Credit Card Agreement