Standing Order Charge

Bromarc

Hi Guys,

I have a Lloyds account, usually I pay my rent through this account by a standing order. Yesterday I cancelled the standing order because I am going to pay the amount through a different way. Also I must stress there is no money in this account as I have maxed it to the overdraft, so the balance is at NIL.
When I woke up thie morning I received an email from my Landlord explaining that the amount of my rent HAS been transferred into their account, when I went online and looked at my account on the internet banking it didnt show an amount being transferred into their bank as it usually does and there is also an amount of £20.00 debited from my account for a returned S/O.

Can anyone shed any light on this??

Many Thanks
Bromarc

lilian1977

With my bank you have to cancel a standing order 3 working days before the payment date or it will still go out. If this is the case with yours it will have said this on the confirmation screen (if you did it online)?

bryanb

How did you cancel the SO? Maybe it was actioned before you cancelled.

~Beanie~

Yes, the standing order has bounced. So it was initally taken out of your account and put into your landlord's and then the transaction was reversed, your landlord should see the amount leave his account again whilst you may not see anything on yours.

MrsTinks

I think you left cancelling the SO too late... Yes the money will show in your landlords account but not for long... it will get recalled by the bank I'm afraid. You could argue with the bank though and see if they will refund you the £20 but they may argue that you should have had sufficient funds for the SO or have cancelled it with enough time for them to process the cancellation (should be in the T&Cs for your account I think)

Bromarc

How long does it take before it reverses out of there account??

Thanks
Bromarc

bryanb

Bromarc wrote: »

How long does it take before it reverses out of there account??

Thanks
Bromarc

Hard to say, but they will let you know I guess, they will want the money. It won't appear in your account if your balance was nil.

MrsTinks

Up to a week I think...

Bromarc

Guys I have taken your advice on board with regards to the time scale as to when Lloyds will reverse the payment......but I am still confused and so are Lloyds Bank. I popped into there at lunch and the polish customer service lady looked into my account and saw a debit of £20.00 for a reverse payment but no figure of the full amount on the statement. I was in a rush so I went back to work......Theres more, I just popped into the branch down Oxford street and the lady mentioned it will reverse on the day the payment was tried to be made (which was two days ago, and still no reverse)

I am very confused....can anyone help, am I £1000 richer....Do banks make mistakes??