RETURNED S/O Lloyds

Lith
Lith Posts: 897 Forumite
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in Budgeting & bank accounts
Any help would be great...


My rent is the only thing that is an S/O but it states on the letter monthly period 3rd may to 1st june

£10 Charge for what exactly? (i was under the impression that S/O's don't go out during weekends and if there isn't any funds in the account?

Checking my statement rent has been paid in may and is pending for June on the 13th (funds are there account hasn't been zero)

so what the hell is going on? they trying to pull a fast one?


Cheers
• HSBC (Main A/C)
• Halifax Back up A/C
• Lloyds (Spending) A/C
• RBS Back up A/C
• Barclays Old A/C
• Nationwide Old A/C

Comments

  • TheShape
    TheShape Posts: 1,779 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    What do your t&cs say?

    A quick google search returns this Lloyd's document re banking charges (look for 'Returned items'):

    http://www.lloydsbank.com/assets/media/pdfs/m60167-bankingcharges.pdf
  • Lith
    Lith Posts: 897 Forumite
    First Anniversary First Post Combo Breaker
    TheShape wrote: »
    What do your t&cs say?

    A quick google search returns this Lloyd's document re banking charges (look for 'Returned items'):

    http://www.lloydsbank.com/assets/media/pdfs/m60167-bankingcharges.pdf

    Saw it,

    but *FUNDS* are there, always there the account is never zero (i make sure of that)


    Gonna call them tmr ask to stop that charge (not having that)
    • HSBC (Main A/C)
    • Halifax Back up A/C
    • Lloyds (Spending) A/C
    • RBS Back up A/C
    • Barclays Old A/C
    • Nationwide Old A/C
  • TheShape
    TheShape Posts: 1,779 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    You've said the account 'hasn't been zero' and 'is never zero', but we're there sufficient cleared funds to cover to SO on the day the SO was due to pay?

    If so, query the charge, if not, I imagine that they are charging a returned item fee.
  • Lith
    Lith Posts: 897 Forumite
    First Anniversary First Post Combo Breaker
    TheShape wrote: »
    You've said the account 'hasn't been zero' and 'is never zero', but we're there sufficient cleared funds to cover to SO on the day the SO was due to pay?

    If so, query the charge, if not, I imagine that they are charging a returned item fee.

    The S/O was for a Monday, but the date was a sat nothing was taken till Monday.


    All funds where in the account (the account is only used for rent and tax nothing else.)

    I'll give them a call tmr.
    • HSBC (Main A/C)
    • Halifax Back up A/C
    • Lloyds (Spending) A/C
    • RBS Back up A/C
    • Barclays Old A/C
    • Nationwide Old A/C
  • SnowTiger
    SnowTiger Posts: 4,458 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Lith wrote: »
    £10 Charge for what exactly? (i was under the impression that S/O's don't go out during weekends and if there isn't any funds in the account?

    According to LLoyds T&Cs:
    Payment of standing orders and future dated payments

    We make payments from your account shortly after midnight at the start of the due date. If your payment date falls on a non-working day, then we will try to collect your payment the next working day.

    They define 'working day' as:
    working day

    Monday to Friday (except English bank holidays). You can give some instructions for payments on non-working days, but we do not complete their processing on our systems until the next working day except for card payments. This is explained below

    The time periods given assume we receive a payment or payment instruction before the cut-off time on a working day. If it is received after the cut-off time or on a non-working day, we will treat it as being received the next working day, except cash paid into a branch on a non-working day which will show in the account and you can use it, on the day you pay it in.

    The T&Cs suggest that the bank making a payment (on your behalf) and taking a payment (collecting) from your account are two events.

    Suggesting Lloyds could make the payment on Saturday, but not collect it from your account until Monday. If there wasn't enough money in your account to cover the payment on Saturday you enter overdraft territory.

    However, the T&Cs also say that payment instructions given on a non-working day are treated as being received the next working day. Therefore, a payment instruction made on Saturday would be treated as being received on Monday. But, as this is a standing order, the instruction would have been given some time in the past.

    Having said that, it could be an error. :rotfl:
  • Lith
    Lith Posts: 897 Forumite
    First Anniversary First Post Combo Breaker
    Well,

    Just gave them a call, and they admitted it was a *MISTAKE* could you believe it?

    no £10 charge :-0
    • HSBC (Main A/C)
    • Halifax Back up A/C
    • Lloyds (Spending) A/C
    • RBS Back up A/C
    • Barclays Old A/C
    • Nationwide Old A/C
  • EssexExile
    EssexExile Posts: 6,134 Forumite
    First Anniversary Name Dropper First Post Photogenic
    Lith wrote: »
    ...could you believe it?
    Yes, we all make mistakes.
    Tall, dark & handsome. Well two out of three ain't bad.
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