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The groundwork for a smooth application
How can a rate conditional on automatic payment be identified?
Check whether the stated rate depends on a payment method or linked account. The relevant clause should explain what happens if the condition is not maintained.
Compare the obligation with that condition visible and ask about changes to rate or charges. A headline discount does not establish that the same price continues after a payment-method change.
Details
- Check whether the stated rate depends on a payment method or linked account.
- Compare the obligation with that condition visible and ask about changes to rate or charges.
- Identify the amount received and the opening balance
- Read fee treatment in the written offer
- Compare the dated repayment schedule
Estimates and offers
Understand the money received and the money owed
Use the statement and agreement to reconcile the transaction. Obtain a revised position before assuming that an extra payment removes a later due date.