Late Payment charges?

[davidp2007]

I was trying to make a payment online, as it turns out 2 hours after my billing due date. It was supposed to be November 30 but it had slipped my mind. So I tried to make a payment on December 1 at 2 am. But to no avail. Both the online and phone service are experiencing technical difficulties. I have sent this question to customer service, but will they bill me for late charges if I am a day late? I think with any other bill I have had with other companies, there has always been a grace period. But I have never been late on my fido bill before, so  I wondered.

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[davidp2007]

I was able to make a payment finally now. No apparent late charges, but has anyone seen them add late charges onto the next bill if you're only 2-3 hours late on paying your bill? I know it sounds like a silly question, but as I said, this is the first time I have been even remotely late on paying my fido bill.

[CindyC]

From what I can see Fido is the WORST for late payment charges.  I pay the bill on the due date, or even the day before but they still charge me late fees every month (this month $0.66).  I think it is a very pathetic approach they are taking, but they are making the delay time for your bank or theirs to process the payment your responsibility.  That means if I don't want a late fee I have to pay 3-4 days early to allow for processing time.  I pay all my bills the smae way (ON the due date), Fido is the ONLY one that charges late fees for doing so.  I think it will cost them my business.

[FidoManuel]

Good morning @CindyC!

I'll suggest you contact your bank to talk about treatment delay. We expect the payment to reach us before the due date. 

If you pay a day before, but your bank takes 2-7 days to process it, it will be considered as a late payment. 

Let me know if you have any question!

[CindyC]

the latest bill sent out by Fido was sent ON the due date of the previous bill.  So if the payment arrive ON the due date, it may still have been too late to be registered as received.  The bottom line is, Fido is the only utility taht uses this practise of billing ON the due date.  Thus Fido is also the ONLY one issuing late payment fees under these circumstances.  It clearly seems like a cheesy way for Fido to nickel and dime it's customers for extra money.  Not a truly good way to treat your customers.

[FidoLoren]

Hello @CindyC,

I understand how you may feel about this. Your feedback is always appreciated!

I'm not sure if you are up for it but Fido offers a convenient option to pay on a pre-authorized basis. You'll never have to worry about payment processing delays or forgetting to make payments (it can happens to the best of us sometimes). Payments will be automatically processed in advance of the due date (14 days after your bill cycle close date to be exact). Just set it and forget it 

Click here for details on how to set this up.

[Hany_sams]

If the due date falling on a weekend, will fido consider the due date to be next business day?. My due date was Saturday and I paid on Sunday. Am I now considered late?

[FidoKenny]

Hey @Hany_sams and thanks for reaching out.

The business days are not considered for that situation.

You simply need to make sure that the payment is done before the due date showing up on your bill.

Hope this helps

[Hany_sams]

Thanks. One last question... Is this one day late pavement going to impact my credit score by any way or shape? Will Fido report this to credit companies( I.e equafax and TransUnion) as late payment? I'm asking because I'm getting a mortgage and don't want this to impact my score

[KAPABLE-K]

@Hany_sams

Equifax says: “Pay all of your bills on time. Paying late, or having your account sent to a collection agency has a negative impact on your credit score.”
TransUnion says: “A good record of on-time payments will help boost your credit score.” Taken from this article here.

While late payments can affect your credit score and if this is a one time thing and not a reccuring issue I would not worry too much about it.

[Hany_sams]

Okay understood, but is the one day late payment going to be reported by Fido to credit companies? although my billing cycle is still on the 22nd. I mean the late payment paid one day after the required pavement date ( June 19) but before the billing cycle end( june22). Please let me know

[KAPABLE-K]

Yes it will, the payment due date for June 19th is for your May invoice and you missed that payment. 

[FidoRanya]

Thanks for your feedback @CindyC 

We expect to receive the payment before or on the due date which is generally a common practice in the industry. You almost have a full month to make your payment , your due date is normally 2 to 4 days before the end of your billing cycle which is very reasonable. We don't get notified when you make your payment through your banking account, we only get notified once we receive the payment. It wouldn't be possible for us to track your payments until we receive them. This means that if you made your payment 4 days before we received it, there's no way for us to know that it was done before the due date. 

On your end, you have to make sure that we'll receive the payment on the date expected, it's the same process for a payment that's made in store or any payment that has a delay. 

Also, you shouldn't receive a new bill until your biling cycle has ended. This means that unless there was a billing delay for which we would have extended the due date, you're not supposed to receive the bill on the date that the previous balance is due. 

Hope this clarifies it. 

[artemeties]

my due date is the 3rd day of the month. I always pay my bills on the the first day of the month.I dont see that you have a month to pay your bill! Last month i was charged a late fee that was taken off after contacting customer service.Being retired our money comes in at the end of the month. I was told it takes 3 or 4 days before fido recieves the payment.That gives me no time to get the payment to fido. If this continues i will switch to another provider.

[FidoPierre]

Hey @artemeties! 

Welcome to the Community! 

Your due date is based on your billing cycle which is tied into the date the service was activated. Each payment method has their own treatment delays.

To avoid the late payments it may be best to try one of our payment methods. You can check them out here. 

[Joworden]

I don't understand if overdue interest is compounded daily how the interest owing is the same whether it is 1 day or 31 days late ?

[Cawtau]

Hello Joworden,

  Welcome to the community!

  Interest on past-due monies is not compounded daily, it's compounded monthly.

     If we do not receive payment of an amount due on your account by the specified required payment date, it will be subject to a late payment charge of 2% per month. This late payment charge will accrue on a daily basis and will be calculated and compounded monthly on the outstanding amount (26.82% per year) from the date of the first bill on which it appears until the date we receive that amount in full. ~ taken from Terms & Conditions.

Hope this helps

Cheers

[Joworden]

The bill has a late payment charge that will accrue on a daily basis and will be calculated and compounded monthly on the outstanding amount. What does it mean to accrue on a daily basis ? And how does that amount to an automatic full months interest on a bill that is one day late ?

[FidoPamela]

Hey @Joworden! 

The late payment fee is applicable as soon as you're late and is equivalent to 2% of the past due amount. An additional charge is applicable for each day the payment is late. That additional charge is calculated on a daily basis. 

Hope that helps! 

[jlits]

@artemeties I hope you dont switch and I also hope Fido can help you out!

[rocky714]

let us cut the story short, so fido wants to lose customers due to small amount of late payment charges rather than having them stayed with them for years. so how much do fido earned from a loyal customers like me in 4 years? they won't even give you any kind of consideration to waive $1.27 (" it is their company policy") instead they want you to reconsider porting your number to other carriers. what a lousy business strategy to get hold of the customers.