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Bank account question

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Hi,

I am just wondering if anybody who either works or used to work in a bank could clarify something for me please

I am currently with Wanadoo broadband and set up a recurring debit card payment for the monthly line rental. This is supposed to come out on the 2nd of each months. All my payments have been coming out anytime from the 16th to the 26th of each months. I wrote to wanadoo twice now asking for a refund of fees etc. however even though on both occasions they have confirmed that the payments should come out on the 2nd of each months (and to allow 3-4 days for payment to come out of my account) Wanadoo are saying it is the banks fault that the payments are not coming out on time. They are saying that they are asking for the money on the 2nd and then it is up to the bank to release the funds when ever.

This does not sound right to me as I should imagine it is automated and if wanadoo request the payments on the 2nd it would nt take the bank sometimes upto 3 weeks to release the funds.

I have spoke to the bank and they have denied what Wanadoo have said, however I just need non partial advice as the bank could be saying this to keep them in the clear etc.

Comments

  • lindabea
    lindabea Posts: 1,530 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Direct Debits are under the control of the company. Once you give your bank details to the company, it is upto them to request the payment from your bank account by sending an electronic instruction to your bank. Your bank is correct in what they're advising you - Wanadoo are pulling the wool over your eyes. If it's suits you better to have your account debited on the 2nd, you need to make sure that you tell them in no uncertain ways. Wanadoo are technically breaking the banking code by not adhering to your debit mandate. You need to tell them that. Good luck my friend.
    Before doing something... do nothing
  • lindabea
    lindabea Posts: 1,530 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Just had another idea. Inform wanadoo that if they do not call for the DD on the 2nd, you will cancel the DD and set up a standing order. This will be under your bank's control to pay it. You will need Wanadoo's sort code and account number. It may not come to this, but the threat may make Wanadoo to adhere to your instructions. Don't let them bluff you.
    Before doing something... do nothing
  • a recurring debit card payment is the worst option of all in paying someone electronically in so much as degree of control over it

    1) best option - standing order - you tell the bank the details & they pay it for you - you can change amounts, date of payments & cancel this at your pleasure, the bank holds the mandate for you & you call the shots

    2) only if company you're paying insist on direct debit - you sign a mandate with the company, they set it up on their computer & take the money from your account on or after an agreed date, they hold the mandate but the Bank will generate a record of this D/D on receipt of 1st payment request - you have some degree of control in that you can ask the bank to cancel it as & when it suits

    3) worst option of all -recurring debit card payment - an agreement with the company to debit your account on an agreed date - THIS IS A GUARANTEED PAYMENT & CANNOT BE RETURNED BY THE BANKS, the info is held with the company & the banks don't have any records, its just as if you swiped your card each time with them as with any transaction in shops, all the control is with the company. All the banks can do is give you a disputed card entry form to complete & send off & these can take weeks - the only party involved is the company so you can only deal with them in trying to get it sorted

    I pay as much as poss by S/O & only have D/D if no other option - I NEVER, NEVER, EVER have a recurring debit (or credit) card payment

    Like any Maestro(Switch) payment they should only take 1 - 3 days to hit your account - Wanadoo are spinning you a yarn
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