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Telecom Introduces Low Payment Fee

Telecom Introduces Low Payment Fee

Telecom is introducing a late payment fee to help recover the cost of late payments and to encourage customers to pay their bills on time.

The $6.00 fee will apply to residential customers with overdue bills. The fee for business customers will be $6.00 or 1.66% of the outstanding bill, whichever is the greater amount.

Group Marketing Manager Consumer, Sandra Geange, said the late payment issue was important to Telecom because it has so many customers. While most customers paid on time, those that pay late represented a significant cost to Telecom. Late payments cost Telecom approximately $17 million annually.

“We’re announcing this fee now to give people the chance to get their payments in order so they can avoid the charge. Most of our customers pay on time so this charge won’t apply to them. The best result for us would be no-one having to pay the fee, because that would mean that Telecom is being paid on time.”

Telecom has a number of ways of assisting customers with genuine payment problems. No fee will apply to those customers who have payment problems and are working with Telecom to rectify them.

Telecom will send information on the fee to customers with their February bill. The late payment fee will take effect from 1 April and will first be charged in May, if a customer’s April bill is overdue.

“We’re giving all of our customers a chance to get up to date or to seek our help before the fee takes effect,” Ms Geange said.

Telecom already provides a major incentive for residential customers to pay on time. Those who pay in full and on time by Direct Debit, Telephone Banking, Internet Banking or Online Payment are automatically entered in a monthly $10,000 prize draw.

Telecom will also be offering 10 Fly Buys Bonus Points for residential customers signing up to direct debit before the end of March.

“We want to encourage customers to move to direct debit – the sure way of paying on time – and we’re offering an extra Fly Buys Bonus Point each month they stay on direct debit for the next 12 months,” said Ms Geange.

“Customers already paying by direct debit are also eligible to receive one Fly Buys Bonus Point each month for a year. Telecom has also launched an advertising campaign promoting the Fly Buys Bonus Points offer.”

To promote direct debit to business customers, those signing up to direct debit before 31 March will go in a draw to win $10,000 worth of selected business services or technology.

“The late payment fee, combined with the positive incentives, will encourage more of our customers to pay on time for our services,” Ms Geange said.

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