Direct Debit Guarantee - Lies!

jonesMUFCforever

I find the attitude of customers on here unbelievable to be honest.
You have the guarantee but no it has to be done immediately - well if you go into your branch at 9.30 you might well have the funds back in your account by the close of business but you won't if you go in at 3.30.

If only you were all as quick to bring your accounts back to order when going overdrawn or over your limits!

p1an0player

jonesMUFCforever wrote: »

I find the attitude of customers on here unbelievable to be honest.
You have the guarantee but no it has to be done immediately - well if you go into your branch at 9.30 you might well have the funds back in your account by the close of business but you won't if you go in at 3.30.

If only you were all as quick to bring your accounts back to order when going overdrawn or over your limits!

do you mean to generalise about all of us customers?

c-m

jonesMUFCforever wrote: »

This is not quite the same as OP's problem.
What you did was reverse a payment going out on the day - that is a simple procedure and of course your account will be recredited on the same day.
When doing a recall of D/D that has already been paid it can take up to 48 hours for the money to be put back in your account.
Personally I think this is a reasonable timescale, compare this to say how long it takes for a debit card transaction to be recredited when necessary to your account - 10 days is not unheard of.
If you do not like the D/D system nobody MAKES you sign up to them.

You might think it's a reasonable time, but not if that rouge DD has made you overdrawn and your bank is charging you either £5 per day you are overdrawn or a flat £38 fee.

simongregson

jonesMUFCforever wrote: »

I find the attitude of customers on here unbelievable to be honest.
You have the guarantee but no it has to be done immediately - well if you go into your branch at 9.30 you might well have the funds back in your account by the close of business but you won't if you go in at 3.30.

If only you were all as quick to bring your accounts back to order when going overdrawn or over your limits!

Customers sign up by direct debit because they are encouraged to as it reduces banking costs. Sometimes some of the savings are passed on to customers

The quid pro quo used to encourage customers to sign up is the direct debit guarantee. Therefore it should be honoured. Not to do so would be a breach of contract, immediate means immediate. There is no reason why the bank can't refund the money immediately, they won't because it suits them and their procedures.

Personally I would go to the branch and refuse to move until the money reappeared in my account...

Perhaps if we started charging a 'service fee' of £30 a day until the money reappeared in our accounts, the banks might speed their act up.

JohalaReewi

simongregson wrote: »

... immediate means immediate. There is no reason why the bank can't refund the money immediately, they won't because it suits them and their procedures...

When I checked with BACS, they said that 'immediate' (in the DD guarantee scheme) meant within 24 hours.

derrick

JohalaReewi wrote: »

When I checked with BACS, they said that 'immediate' (in the DD guarantee scheme) meant within 24 hours.

So they can make up their own definitions of "immediate" can they?

I don't know what their dictionary says about the word "immediate", but my English Dictionary says; - without anything intervening; acting without a medium; direct; not acting by secondary causes; present; without intervention of time.

And for the word "immediately"; - "Without the intervention of anything; directly; without delay; instantly; forthwith.

To me that means NOW !!

altocumulus

So,

the DD guarantee is dodgy,
as is the 'passport scheme' -

makes one wonder what else is waiting in the sidelines to creep up with a bang....

simongregson

derrick wrote: »

So they can make up their own definitions of "immediate" can they?

I don't know what their dictionary says about the word "immediate", but my English Dictionary says; - without anything intervening; acting without a medium; direct; not acting by secondary causes; present; without intervention of time.

And for the word "immediately"; - "Without the intervention of anything; directly; without delay; instantly; forthwith.

To me that means NOW !!

Exactly, although it might take the bank a few days to recall the money, they can credit your account immediately and wait for the money back from the company concerned. It sounds like from the Barclays guy that if you kick up a fuss, this is what gets done.


If people lose confidence in direct debit, the upshot will be people switching back to paying by cheque/bacs etc...

ldavies_3

simongregson wrote: »

Exactly, although it might take the bank a few days to recall the money, they can credit your account immediately and wait for the money back from the company concerned. It sounds like from the Barclays guy that if you kick up a fuss, this is what gets done.


If people lose confidence in direct debit, the upshot will be people switching back to paying by cheque/bacs etc...

The upshoot of that happening though is many many people not paying their bills on time, accruing charges, battering credit files with late / missed payments.

In reality, there are very few people who have issues with DD s.

JohalaReewi

ldavies wrote: »

In reality, there are very few people who have issues with DD s.

If this is the case, why don't banks honour the DD guarantee and refund immediately when there is an issue?