Bank Charges put on at end of the day!
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If they took the fees at the start of the given day, the customer would have until the daily cut off to notice if they'd forgotten and rectify it (which the OP would have done.) With fees taken at the end of the day, you only have until the cut off if you remember the date given. If you forget, the cut off has gone before the fees are taken.
BACS and DD payments seem to go at midnight so I think it's a reasonable assumption to think that bank charges are the same. The only way to know otherwise unless I'm mistaken is to have incurred fees before and checked online banking throughout the day to see that they weren't taken until the end.
Banks tell you the date in advance, but I've never seen them say that it wouldn't be until the end of the day.
How can they tell whether to charge you at the beginning of the day? Say the cut off is 3:30 as it is with TSB as an example, you've got till that time to balance your account, if its negative at 3:30 then the bank charges you. Common sense really.0 -
BACS and DD payments seem to go at midnight so I think it's a reasonable assumption to think that bank charges are the same. The only way to know otherwise unless I'm mistaken is to have incurred fees before and checked online banking throughout the day to see that they weren't taken until the end.
Not always true. DD payments go throughout the day for me. I can get up, check if my CC has been paid and it hasn't, check back at lunch and it hasn't, check before I leave work and it has.0 -
I have took responsibility for my finances my whole life thanks to those who seem to judge, Ive managed to keep our heads above water through an awful time that unless you have been through it you cannot imagine. I struggled through with no help as at the time I didnt realise I could get any help with tax credits or anything as I never knew the system having never claimed anything before. I was merely annoyed that everything else comes out during the day or it says on pending transactions what is due to come out so you know what is happening and can sort it out by close of business that day yet with the account charges it didnt come up and they put them on after close of business. My fault entirely but was just making the point, I have now put a reminder on my calender (thanks for that tip) if I'm ever in that situation again.0
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