October 18, 20215 yr I am about to pay for my windows and the company wants 90% up front on order. This is a big chunk of money and i am a bit nervous about such a large amount (other companies wanted 50% on order / 50% before delivery for supply only) and i want to be protected as much as possible. What are the best ways to make payment that if the worst happens i can be protected and get my money back. Edited October 18, 20215 yr by Moonshine
October 18, 20215 yr Use a credit card for a portion of the payment. I think it only needs to be a few hundred.
October 18, 20215 yr Author 1 minute ago, Conor said: Use a credit card for a portion of the payment. I think it only needs to be a few hundred. That is interesting, i thought that the whole amount needed to go on CC.
October 18, 20215 yr More info: https://www.moneysavingexpert.com/reclaim/section75-protect-your-purchases/
October 18, 20215 yr Not what our window company said. Can't remember the exact amount but it was less than a grand. Pretty sure that's how we did it.
October 18, 20215 yr Maybe also do a company check on the window supplier to check they have been trading a long time and have a healthy balance sheet so are less likely to go bust and keep your cash. https://www.gov.uk/get-information-about-a-company
October 18, 20215 yr 23 minutes ago, Moonshine said: That is interesting, i thought that the whole amount needed to go on CC. No - we went down this route for our windows and paid £150 on a credit card which protected us for the remainder of the larger amount of that invoice. I checked it up thoroughly before handing the money over. It's part of Section 75 of the Consumer Credit Act. Martin Lewis' Moneysavingexpert website has a section on this. Edited October 18, 20215 yr by Happy Valley
October 18, 20215 yr Author 4 minutes ago, Happy Valley said: we went down this route for our windows and paid £150 on a credit card which protected us for the remainder of the larger amount of that invoice. how did you pay the rest, debit card or bank transfer?
October 18, 20215 yr As above Lots of companies are struggling for cash flow A second one of our sites have been postponed due to TF company going into administration through no fault of there own
October 18, 20215 yr 53 minutes ago, Moonshine said: how did you pay the rest, debit card or bank transfer? We did a bank transfer. Not sure if it makes any difference whether it is a transfer or debit card.
October 18, 20215 yr So if I'm getting this right.... A consumer can buy an expensive product, pay a small deposit by way of credit card, then pay the balance (of deposit or entire remainder) by a direct transfer (BACS) and would be protected under the credit card for the entire amount? Well if that's correct, I am gobsmacked. I'd have thought that the bacs payment, made independently of the card payment and company, would mean that you stood to lose that payment if things went wrong.
October 18, 20215 yr Author 1 hour ago, Makeitstop said: So if I'm getting this right.... A consumer can buy an expensive product, pay a small deposit by way of credit card, then pay the balance (of deposit or entire remainder) by a direct transfer (BACS) and would be protected under the credit card for the entire amount? Well if that's correct, I am gobsmacked. I'd have thought that the bacs payment, made independently of the card payment and company, would mean that you stood to lose that payment if things went wrong. it seems that is the case, other sources seems to confirm it. https://www.financial-ombudsman.org.uk/consumers/complaints-can-help/credit-borrowing-money/goods-services-bought-credit https://www.which.co.uk/consumer-rights/regulation/section-75-of-the-consumer-credit-act-aZCUb9i8Kwfa As long as my windows are less than £30k it should be protected by the CC, even if i pay a fraction on the CC Edited October 18, 20215 yr by Moonshine
October 18, 20215 yr Minimum £100 to trigger section 75 but maximum £30k claim. Ensure the invoice is “part payment” using card, and not just an order for £100 from the window company.
October 18, 20215 yr Blimey, that's a handy thing to know. I have extremely limited experience using credit cards, so had no idea.
October 18, 20214 yr Author 42 minutes ago, Makeitstop said: Blimey, that's a handy thing to know. I have extremely limited experience using credit cards, so had no idea. Me too, and why this forum is a great place
Create an account or sign in to comment