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  • wishiwasarichgirl
    • #2
    • 19th Dec 07, 11:21 PM
    • #2
    • 19th Dec 07, 11:21 PM
    don't know the answer, sorry, but if it was me I'd transfer the money early just to be on the safe side.
    WigglyFB

  • kinged_uk
    • #3
    • 19th Dec 07, 11:23 PM
    • #3
    • 19th Dec 07, 11:23 PM
    don't know the answer, sorry, but if it was me I'd transfer the money early just to be on the safe side.
    Originally posted by wishiwasarichgirl
    I wish changing a standing order was easy with my bank - I'm almost tempted to do a manual transfer and move the S/O out until January!! Of course I have to hope my employer pays me in time too ))
  • wishiwasarichgirl
    • #4
    • 19th Dec 07, 11:26 PM
    • #4
    • 19th Dec 07, 11:26 PM
    yeah, my bank doesn't make it easy either, in the past i have cancelled SOs, done a manual transfer and restarted the SO later, bit of a faff though
    WigglyFB

    • boo_star
    • By boo_star 20th Dec 07, 2:17 AM
    • 1,063 Posts
    • 497 Thanks
    boo_star
    • #5
    • 20th Dec 07, 2:17 AM
    • #5
    • 20th Dec 07, 2:17 AM
    What is the score with xmas banking days and electronic transactions (standing orders, DDs etc.)?

    I'm concerned that an internal S/O between two accounts (same bank) due to take place on the 25th won't happen in time for DDs other standing orders etc. to go out of the target acct on the 27th to other external accounts for bills etc.

    Can anyone help/provide advice?
    Originally posted by kinged_uk
    It will leave the account on the 27th.

    Bear in mind this will be considered a same-day credit by the bank.

    If (as almost all banks do) they ask funds to be in the working day before you may be charged as they may return items due on that date for lack of funds.
    • JoBatch80
    • By JoBatch80 20th Dec 07, 7:02 AM
    • 2,131 Posts
    • 2,537 Thanks
    JoBatch80
    • #6
    • 20th Dec 07, 7:02 AM
    • #6
    • 20th Dec 07, 7:02 AM
    As boo_star said, the transfer will take place on the 27th. As there isnt a clearing run on the 26th, the transfer will take place at the end of the day on the 27th, if you have internet/telephone banking it will be worth delaying the standing order until its normal pay date in January and making a one off transfer between accounts on xmas eve in order for the funds to be there on time (presuming you have already been paid early this month). This should ensure that the funds are in place before any direct debits become due.

    If you dont have internet/telephone banking I would suggest nipping into a branch and having them amend the standing order and making the manual payment for you.

    Jo x
    Once you've swam in the sea, a lake will no longer do.
    • student100
    • By student100 20th Dec 07, 7:35 PM
    • 1,028 Posts
    • 319 Thanks
    student100
    • #7
    • 20th Dec 07, 7:35 PM
    • #7
    • 20th Dec 07, 7:35 PM
    Depends on the bank. Some banks (e.g. Halifax) will process internal payments on any day of the week (e.g. Sunday) - so I don't see why Christmas day will be any different?
    student100 hasn't been a student since 2007...
  • Mikeyorks
    • #8
    • 20th Dec 07, 7:45 PM
    • #8
    • 20th Dec 07, 7:45 PM
    Post #7 represents the correct answer. If your Bank runs its internal systems daily (as Halifax) - it will cut across on the 25th. If not - the transfer is likely to take place concurrently with the DDs. So it depends on your Banks attitude to funding the DDs on the same day they're due? So if they're one of the Banks that still thinks the day after Friday ... is Monday (and reserves the funds for DDs due out Mon - on the Fri night) ........ then you need the funds in place around teatime 24th (as they'll be running systems a bit earlier)
    Last edited by Mikeyorks; 20-12-2007 at 8:40 PM.
    If you want to test the depth of the water .........don't use both feet !
  • headoutthesand
    • #9
    • 20th Dec 07, 11:03 PM
    • #9
    • 20th Dec 07, 11:03 PM
    yeh - i'm with #7.

    I transferred money into my bank account on 1st Jan 07 to cover a DD which i thought wouldn't be coming out till the next day.

    I was then told that Halifax work 365 days a year so effectivley aren't closed and therefore incurred a chrage (which i got refunded).

    I would make sure that you have enough money cos it seems to me that banks just do to suit themselves.
    Official DFW nerd no 551 - proud to be dealing with my debts
    Debts as of March 2014
    Nationwide - £5745, Overdraft - £350,
    Debts as of January 2015
    Nationwide - £4997, Overdraft - £0
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