(PRWEB UK) 17 November 2012
As November draws on, the usual rush for firms offering 0% interest balance transfer deals is already in full force. The Royal Bank of Scotland has recently announced its Platinum Extended Balance Transfer card, joining both Barclaycard and HSBC in offering 0% on balance transfers for 23 months. As competition in the field gets fierce, customers can benefit by savings hundreds of pounds through switching to a 0% balance transfer card. Offering customers another option for longer term interest free balance transfer, this change is in stark contrast to 6 years ago when the longest 0% balance transfer offer lasted just 12 months.
However, there have been warnings over this. Charlotte Nelson from Moneyfacts has stressed the importance of ensuring people clear their debts before the interest free period expires. Those who still owe money after this time will begin to build up interests at a higher standard rate, typically 17.9%. She explained that the easiest way to keep to payment deadlines is to set up a Direct Debit.
As one of the UK’s leading Direct Debit Service providers, SmartDebit understands the varied benefits of using Direct Debit, both for consumers and companies. Direct Debit offers consumers a transparent and cost-effective way to take more control over their finances. A representative from the firm shares their thoughts on the matter.
“Consumers should be careful at this time of year. With lots of appealing deals such as 0% balance transfer offers, it can be easy to lose sight of your long term financial budget. Using Direct Debit will help consumers to keep on top of payments.”
SmartDebit is the UK’s leading Direct Debit Service providers, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent’ in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services: Outsourcing; SmartDebit-Admin cloud based portal; SmartDebit-Online payer sign up; SmartDebit-API integrated solution and SmartDebit-Contingency.