Slingshot quietly reducing due date on invoices to 3 days

Forums › 2degrees (including Slingshot, Orcon, Flip, Stuff Fibre, MyRepublic, 2talk and Vocus) › Slingshot quietly reducing due date on invoices to 3 days

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1547 posts

Uber Geek

#695258 3-Oct-2012 01:13

Zeon: Yea cheques take a while to process and a while to deliver. More than 5 business days for the whole process. Payment terms of at least 14 days is reasonable IMO?

Yes, if Slingshot agree to accept a cheque as a valid form of payment (and most telcos still do) then they need to allow a reasonable amount of time for that type of payment to process.

I know with Telecom the due date is approx 14 days from the invoice date which is reasonable. They don't send any notices until the account is at least one month overdue - The late payment fee is incurred if you haven't paid by the time they print the next months invoice - not the day after the due date.

MikeB4

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#695284 3-Oct-2012 07:34

Invoice printed and posted Monday, arrives Wellington Tuesday and retrieved from letter box after work say 5.30pm.
Opened and cheque prepared, put in NZ Post collection point Wednesday morning, collected and sent to Pet one sorting centre.Out for delivery Thursday. Delivered and assuming Slingshot Bank immediately that morning it is overdue.

Similar scenario for internet Banking.

Get real Slingshot.

almaznz

89 posts

Master Geek

#695289 3-Oct-2012 08:04

Slingshot: Hi guys,

This is right actually, I have confirmed with our Finance manager.

The payment requirement time frame for credit card payments only is 3 days.

Other payment options have longer grace periods before an account is deemed overdue.

Cheers,
Ben

can you let us know what the different grace periods are for the different payment methods?

Slingshot

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Slingshot

#695415 3-Oct-2012 11:35

Hi guys,

Payments are due 10 days from the invoice date. We are in the process of tidying up some different billing policies regarding different products as we speak so this whole issue will hopefully be squashed soon!

For customers who have a credit card loaded on their account, the payment is taken 4 days after the bill date - I think this is where a mistake or misunderstanding may be occurring. If you are having an issue with a billing time frame feel free to PM me your account details and I will look into it for you.

For customers who have a direct debit loaded against their account, the payment is taken 10 days after the bill date.

Credit card payments taken over the phone are effective immediate.

Payments made online via internet banking reach us the next working day (if made before 9pm).

Payments made at the post shop reach us the next working day.

Let me know if you have any questions, you can PM me on this account.

Cheers,
Ben

www.slingshot.co.nz

www.twitter.com/SlingshotNZ

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nzkiwiman

2585 posts

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#695554 3-Oct-2012 15:06

On Snap, the bill arrives on the 12th, they charge my credit card on the 6th (roll over date) and if it fails I have a week to sort it before my internet MAYBE disconnected. Only had funding issues once when I was unemployed and needed to wait for my dole payment to pay the bill (3 days after the 6th)

richms

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#697611 7-Oct-2012 21:18

Can take 3 days for money to get into the visa when I do it over internet banking. Totally unacceptable from slingshot to have it that low.

Richard rich.ms

cakeking

37 posts

Geek

#697623 7-Oct-2012 21:49

Sorry, I'm not sure what the big deal is about. If everyone is concerned about their credit cards being charged 3 days after the invoice is issued - why not pay it earlier. Just pay $20 a week or something like that should sort it all out....... I mean they could charge your card the day the invoice is issued.

Wise

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richms

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#697625 7-Oct-2012 21:53

cakeking: Sorry, I'm not sure what the big deal is about. If everyone is concerned about their credit cards being charged 3 days after the invoice is issued - why not pay it earlier. Just pay $20 a week or something like that should sort it all out....... I mean they could charge your card the day the invoice is issued.

No they couldn't as the whole point of sending an invoice is to allow you to see the charges, dispute any and arrange for there to be money on the card that they charge.

The only business that gets to arbitrarily charge your account with no prior warning or opportunity to dispute it is the bank itself, and I have already made how I feel about them doing that quite clear.

Richard rich.ms

cakeking

37 posts

Geek

#697629 7-Oct-2012 21:58

I absolutely concede to your point - I hadn't thought about that. My invoice is always the same set amount. Does anyone use Visibill? You can see all the charges etc before any invoice is issued.

richms

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#697631 7-Oct-2012 22:00

Mine is always the same now that I am on the flatrate plan, but if I get pinged a late fee because of them delaying sending me the email so that there isnt enough time to get the $ transfered into the visa to pay it in time then it will be the final straw that will have me looking into the party as an ISP for my bulk downloads on.

Richard rich.ms

cakeking

37 posts

Geek

#697636 7-Oct-2012 22:19

From the Slingshot Terms of Use:

"You must pay each invoice within 19 days of the invoice date. If you do not pay any invoice within that time we may:1. charge you interest on the overdue amount from the due date until the date you pay, at the rate of 1.5% per month; and2. charge you a late payment fee of $5 if your invoice is unpaid 30 days after the invoice date; and3. suspend or restrict your service; and4. recover from you any debt recovery costs; and5. require you to put in place a direct debit payment arrangement for payment"

If you have your credit card loaded on your account they will try and process the invoice 4 days after it is issued. If I was concerned I would clear the card details from my account and pay it manually after I receive the invoice - you have 19 days to pay it (before you suffer any penalties).

richms

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#697637 7-Oct-2012 22:25

This tightening of the payment terms reeks of desperation. Is cashflow that bad at callplus these days that a few extra days before charging is that hard on them?

Richard rich.ms

cakeking

37 posts

Geek

#697638 7-Oct-2012 22:29

Personally I don't have a problem - I've always prepaid, but I do agree with you......especially considering that you're paying them in advance.......... well thats how my plan works at least.

rfdawn

39 posts

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#697643 7-Oct-2012 22:45

Is payment being taken earlier or just notification arriving later? Companies seeking earlier payment of invoices may be experiencing liquidity issues. Naturally, this is not always the case.

DravidDavid

1907 posts

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#697687 8-Oct-2012 00:45

I'm guessing slingshot are getting sick of people signing up and defaulting all the time.

Being one of the cheapest options on the market, they must get a lot of people sign up and have no intention to pay while stringing them along.

I agree though. The time given is a tad short. Keep in mind though, you have three months to dispute charges you believe to be incorrect.

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