Student Loan Payment / Credit Card Cash Fee

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I have just paid off my student loan using a credit card and then noticed a £90 fee appear on the bill.

It seems the student loan company put it through as a cash transaction rather than a purchase.
This kind of makes sense but it's not mentioned anywhere. The website explicitly states no fees when paying by credit card.

Does anyone know if this is normal or if they've just made a mistake? Very annoying if it's correct as there is no mention of it at all, and I wouldn't have used a credit card if I knew.

Getting money out of the student loan company is notoriously difficult aswell so not sure how much luck I'll have getting it back!


Anyone had it happen to them as well?

[ymwoods]

Is the £90 bill from the Credit card company or from the Student loans company?

If the latter then you would hope a call reminding them of not being able to charge transaction fees anymore would solve it.

[orangesrule]

Ring up you're card company to determine the origin of the charge. If it's the card company ask them nicely if there is anything they can do to cancel or reduce it. In my experience card companies/banks are pretty good for one off occurrences.

[romeogolf]

SLR website clearly states no fees from them for using a credit card and does not list any warning about it being treated as a cash-withdrawl transaction in the way purchasing foreign currency does: http://www.studentloanrepayment.co.uk/portal/page?...

I would agree with the poster above that you should call your credit card provider and query the charge.

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Had already called the credit card company which is how I found out it had been put through as a cash transaction.

They said they couldn't do much about it (because it was a cash transaction they charge the fee) but the retailer dispute team might be able to help.

Will speak to SLC on Tuesday as hopefully they've just done the transaction wrong and will refund me the £90. Although as they didn't actually charge it it could get interesting!