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Debit & Credit on Same day - Which is processed first?
humfer
Posts: 1,779 Forumite
Got a Lloyds TSB Current Account. Paying off a big credit card bill in february which is on the same day as I get paid. If Lloyds processed the credit card first, it would take me overdrawn. However as both credit and debit would be on the same day, as long as I'm in credit at the end of the day will I be ok and Lloyds not charge me any overdraft charges, etc??
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Got a Lloyds TSB Current Account. Paying off a big credit card bill in february which is on the same day as I get paid. If Lloyds processed the credit card first, it would take me overdrawn. However as both credit and debit would be on the same day, as long as I'm in credit at the end of the day will I be ok and Lloyds not charge me any overdraft charges, etc??
What i do know is on the day you pay in the cheque, the first £1,000 is credited straight away into the account (but not available for withdrawal) and earn interest on the same day. Maybe someone else will know more.0 -
Depends on how you're paying it (and who it's with)? Cheque there by the due date - no problem. DD ..... likely a problem as funds need to be there day before. FP on the day - no problem etc etc.If you want to test the depth of the water .........don't use both feet !0
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Got a Lloyds TSB Current Account. Paying off a big credit card bill in february which is on the same day as I get paid. If Lloyds processed the credit card first, it would take me overdrawn. However as both credit and debit would be on the same day, as long as I'm in credit at the end of the day will I be ok and Lloyds not charge me any overdraft charges, etc??
if it is a bacs payment eg salary they both happen together .0 -
noah271007 wrote: »What i do know is on the day you pay in the cheque, the first £1,000 is credited straight away into the account (but not available for withdrawal) and earn interest on the same day. Maybe someone else will know more.
My mistake. I've misread the question!0 -
it will be fine.....also with ltsb if you go overdrawn as long as you are in credit by 4pm again the same day you will not be charged.0
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toinfinityandbeyond wrote: »it will be fine.....also with ltsb if you go overdrawn as long as you are in credit by 4pm again the same day you will not be charged.
In credit by 15.30PM, not 4PM0
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