Charging cycle
We’ve made some changes to the charging cycle.
FAQs
- When will the new charging cycle begin?
- Your new cycle will start on 10th of each month, and finish on 9th of the following month. This applies to all service charges as well as debit and credit interest. Some other specific charges are invoiced separately e.g. Corporate Online monthly fees.
- When will the charges be debited from my account and do I need to make any changes to the way I bank?
- We'll take the charges from your account 18 days from the date of the invoice. This might be a different date than the one you're used to. You don't need to do anything other than ensuring you have sufficient funds in your account, as we'll automatically take the payment from your account.
- I use Bacstel IP; does that mean I will have two different charging cycles?
- Yes; your file fees and item fees will follow the new charging cycle which starts on 10th of each month and finishes on 9th of the following month. If you incur any other charges for example purchase of a smartcard or smartcard reader these will be collated over a calendar month and invoiced separately. In both cases the charges will be automatically taken from your account 18 days after the invoice date.
- I use Corporate Online; does that mean I will have two different charging cycles?
- Yes; your normal activities will follow the new charging cycle which starts on 10th of each month and finishes on 9th of the following month. Transactions that are carried out using Corporate Online (COL) will be invoiced separately. These charges will accrue over a calendar month and will be debited as a lump sum. In both cases charges will be automatically taken from your account 18 days after the invoice date.
