Nationwide Standing Order.... urgent advice!

Nicki_Sue

Hi - I have the Nationwide Flexaccount, no debit card, checkbook or authorised overdraft.
My rent is due out tomorrow (standing order) and I've just realised I won't have enough in to meet it and am horrified (have NEVER missed a rent payment to anyone, ever but some wages I though were going in on Friday, is actually going to be Tuesday - too late to make up the rent.

Will the standing order go through and put me into unauthorised ovedraft (thats fine - my fault and I'll swallow the charge) or will it not go through (I hope not, my landlord will go absolutely crackers and likely turn up at the door - and our 6 month initial tenancy ends next month and we need to stay ther which was the plan).

Any advise MUCH appreciated

Also, if a family member has nationwide - could they transfer funds in tonight and it be instant?

YorkshireBoy

Although I have a FlexAccount, it's not my main account so I'm not sure how it works in practice.

However, I seem to remember that you have until around 9.00pm on Sunday evening to fund the account (from your eSaver, so presumably any other Nationwide account will do?) prior to payments going out on Monday morning.

The bad news is that I can't seem to find the above in the T&C's. The only thing I've found is...

Payments (Direct Debits, cheques, standing orders or bill payments) from your account will only be made if there are enough cleared funds available in your account. If you need to transfer funds from another Nationwide account this needs to be done by 5.00pm on the working day before payments are due. We may decline to make a payment if the amount exceeds any limit we set for monitoring or fraud prevention purposes.

...so maybe they've changed the 'rules'?

If you can though, I'd still get a relative to transfer some funds in. At least it shows a willingness on your part and may help you get any fees charged back?

Nicki_Sue

!!!!!! - thanks though.
That looks like I'm scuppered. I have no funds in any other accounts to transfer so will be £250 too low. That says fairly clearly that even if I asked a family member to try and do a transfer tonight (not convinced it could go instantly), that it would be too late. Damn!!

Thanks so much for looking (I couldnt see the woods for the trees) and posting. I think that I'll have to sit it out, hope and pray that the standing order goes through and if not, I'll ring landlord, apologise profusely, explain that wages didnt go in and that I'll do a manual payment on Tuesday when the bank opens. Can't seem him wearing that but I have no choice.
Im gutted.

YorkshireBoy

Read the last sentence in my post again. You might be able to save yourself £30-50 in charges. Has to be worth a try doesn't it?

noh

Yes its worth a try.
The T+Cs say 5.0 pm the previous working day but the Internet banking help pages say midnight or 9pm if a Sunday.

http://www.nationwide.co.uk/internetbanking/help/help_transfer_money.htm


Nigel

Milarky

YorkshireBoy wrote: »

However, I seem to remember that you have until around 9.00pm on Sunday evening to fund the account (from your eSaver, so presumably any other Nationwide account will do?) prior to payments going out on Monday morning.

The bad news is that I can't seem to find the above in the T&C's. The only thing I've found is......so maybe they've changed the 'rules'?

It's menioned in the online 'Help' files: http://www.nationwide.co.uk/internetbanking/help/help_transfer_money.htm

I've just (at 19.00) test transferred 2p to another person's account and it now appears there. The only thing is it appears with tomorrow's date (14 July) rather than today's. However the 'available balance' has increased to reflect tomorrow's payment already.

I can therefore only echo YB's suggestion to the OP to make the transfer in the next two hours for it to be 'there' on Monday morning. (I think the dates are only an 'interest' thening as it happens) But remember that to make any 'single payment' the payer now always has to use their own Nationwide card reader. Very annoying for 2p! and especially 2p on an existing arrangement....

Nicki_Sue

Hi Yorkshire Boy - thanks for the advice, after reading your post I ran off to get in touch with family member - they're ringing me back. Fingers rossed (sorry should have posted, then run).

Thanks also to Noh for replying and Milarky for going to the huge trouble of faffing about transferring to see if it would work!! I was going to get them (hopefully) to transfer in whats needed to avoided charges but now have hope that it might even stop the so being rejected. We really could lose our house over it (not being melodramatic). I'll let you know what happens and thank you all so much.

(Aren't I a bleddy whinge when I'm pi55ed off!)

KTF

If the money gets taken out tomorrow morning and puts you in the red you have until close of business the same day to get the account back in credit before any charges are applied so if there is any way that you can get the money in there tomorrow you will avoid any fees.

If it rolls over to Tuesday then the unauthorised overdraft fee will kick in.

Nationwide to Nationwide funds transfers are instant so if they money goes in tomorrow you will avoid the charges.

Nicki_Sue

Thank you all SO much, family member (who is a shining star), transferred the money and I've now adequate funds cleared to meet the rent (and am crying - how sad lol). LONG day.
Thank you x

storminbalder

Nicki.

Glad you got it sorted. Nationwide are really bad with this sort of thing. I had a similar problem and my rent "bounced". I did get the charges back - after 6 months of moaning.

For the future though, you'll find the Yorkshire Bank a proper and reasonable bank. They will allow you to fund your account in cash up untill 2.30 in the branch on the day payments are made.

In any case you need not have worried too much, a standing order takes approx 3 days to reach the recipient anyhow.

Nicki_Sue

Thanks hun.
Im all up in the air at the moment and struggling a wee bit which is tiring lol. Have gone back over my budget tonight, am visiting Y. Bank tomorrow re an account etc so getting there. A good nights sleep wouldnt hurt lol!

Thanks again to everyone for helping x