Clarification on DD guarantee

paulh99uk

Had a DD come out my account today(friday), noticed it friday evening. Called my bank to ask for refund as I no longer have an account with the company requesting the money and in any case it was for the wrong amount and early. My bank said I would have to have called before 3pm for a refund now I have to wait until monday as they were going to fill some form in and fax it to my branch. Just wondering if this was normal procedure

Richard019

I don't know about refunds, but I don't recall ever seeing a DD go out of my account on a weekend day, they always seem to go on either the Friday or the Monday and my credit card payment days are always a weekday.

Based on those things I would say it's normal practice for it to be dealt with on Monday.

Did they say you had to contact the branch, or was it that when they filled the form in and sent it then it would be dealt with? (It could just be something daft like they've missed the post for tonight so it won't be delivered until Monday for it to be processed into your account)

dolally_2

In the event of an error you are due an immediate refund from your bank who should then get the money back from whoever caused the error.
I have never heard the 3pm one before, but banks are quite keen to try and wriggle out of this one!!

You are entitled to your money and it is your banks responsibility to chase it, not yours (however I would check if they are reclaiming the full direct debit amount in case that leaves you owing any money to the company who took the DD in the first place).

Crinz

it seems that dd indemnities need to be actioned in branch.. they are only done on working days so not on weekends.

I agree with the missing the post theory

mitchb

paulh99uk wrote: »

Had a DD come out my account today(friday), noticed it friday evening. Called my bank to ask for refund as I no longer have an account with the company requesting the money and in any case it was for the wrong amount and early. My bank said I would have to have called before 3pm for a refund now I have to wait until monday as they were going to fill some form in and fax it to my branch. Just wondering if this was normal procedure

I think the 3pm deadline will relate to canceling the direct debit and asking for the payment to be reveresed, Not an indemnity.

dunstonh

I have never heard the 3pm one before, but banks are quite keen to try and wriggle out of this one!!

The 3pm deadline is for recalling direct debits being processed that day.

Swans1912

dunstonh wrote: »

The 3pm deadline is for recalling direct debits being processed that day.

My Direct Debit left my account yesterday on the 15th and at 0730 the same day I was on the phone asking for it back! I was told to call them back at 0800 which I did only to be told I had to wait 48 Working Hours!

I am off into town today and might open a new current account closing my Abbey one!

derrick

Direct Debit - your rights.

The Direct Debit Guarantee

• If the amounts to be paid or the payment dates change, the organisation collecting the payment will notify you normally 10 working days in advance of your account being debited or as otherwise agreed
• If an error is made by the organisation or your bank or building society, you are guaranteed a full and immediate refund from your branch of the amount paid
• You can cancel a Direct Debit at any time by contacting your bank or building society. We also recommend you notify the organisation concerned.

The banks in this thread are wrong and in breach of the DD Guarantee.
Consider contacting the Banking Ombudsman.

JohalaReewi

Crinz wrote: »

it seems that dd indemnities need to be actioned in branch.. they are only done on working days so not on weekends.

I agree with the missing the post theory

You are confusing the indemnity scheme with the guarantee scheme. The Guarantee scheme is the one that customers use to get a direct debit refunded. It is offered by the bank to thier customer. The refund is full and immediate.

The indemnity scheme is where the bank gets its money bank after refunding a DD under the guarantee scheme.

Obviously, some naughty banks don't like doing the guarantee refund because it is their money, so they like to pretend that the indemnity scheme and guarantee scheme are the same thing and tell the customer to complete an indemity claim (in branch). So not only does the bank wriggle out of their responsibilty to refund under the guarantee scheme, they get the customer to fill in the indemity paperwork too.

Swans1912

JohalaReewi wrote: »

Obviously, some naughty banks don't like doing the guarantee refund because it is their money, so they like to pretend that the indemnity scheme and guarantee scheme are the same thing and tell the customer to complete an indemity claim (in branch). So not only does the bank wriggle out of their responsibilty to refund under the guarantee scheme, they get the customer to fill in the indemity paperwork too.

JohalaReewi, your correct. I've spoken to 5-6 different people at Abbey's banking department trying to resolve my dispute and they said 100% DD guarantee is with the other company!

Abbey even told me its in their T's & C's that it will take 48 Hours for a refund!