I paid my Fido bill on May 21 and the due day was May 22. I got my June's bill and there is a charge of late payment for $2.57 on it. So I check my bank and the payment transation was posted on the same day. So I go on line support to fine out why and was told that they only received the payment on May 25 and will not reverse the late payment charge and all they do was trying to get me to set up a direct debit! I show them the email that Fido send me to confirm the accout balance was 0.00 as of MAY 21 not as of MAY 25 as they claimed! They said it will take several days for them to get the money from the bank that why the charge me for overdue! I've been paying my credit card, hydro, gas and all other bills on the due day and never have anybody charge me overdue payment because of it will take them several days to get the money! I hope FIDO do pay their employee several days in advance of pay day as it will take a few days to clear the bank!
Normally on an bank account or even a credit card payback, the amount returned takes about maximum 1 week. You can ask your financial institution to be faster, sometimes the instutition can do it.
I hope you have a nice day If you have anymore questions, i'm here to answer
If you pay your bill through your bank it can take up to 5 business days before Fido receives the money this is no fault of Fido it all depends on how fast your bank actually sends the money to Fido.
This is why they advised you to set up direct billing so you do not incur any late fees if you pay by credit card the payment is done right away.
Should I assume that FIDO WILL paid their suppliers and their employees 5 day before the due day and pay day?
Also I paid all my other bills the same way and my cable, hydro, credit card company never have any problem and only FIDO have problem, so the problem is with them or my bank???
Your rant of how Fido pays their employees and suppliers is pointless, Fido can only apply the payment after they receive it which can take up to 5 business days and they did mention it here. Even Canadas largest bank RBC for example says "The payee may take 3 to 5 business days to post the payment to your account."
Taken from here.