Rent been taking out 2 days early..weve been charged as its bounced

sugarpants_2

:mad:Im fuming our ernt has been taken out 2 days early and we dont have it till tommorrow. So the bank have charged us £38.00 and bounced our rent! Im so angry. We have the money in there today ready for the 14th (tommorrow)

Im our contract it says the 14th of every month!! Whats my rights? What happens? Will the letting agents try again to take rent out and when? Will we get charged by them? Are we entitled to get them to pay our bank charge as it was their fault as they took payment out early without any notice??

Im so upset..We are on our holiday (only cheapie one) next week and we havent got much spending money to take with us and Im !!!!ed off about that, then DH has called about this rent being bounced:mad:

BenL

Have you got a direct debit arrangement?

If Yes: - Call your bank and tell them you are requesting a direct debit indemnity reason code "amount not yet due".

The bank is responsible for putting the amount back into your account, usually 24-48 hours. The charge should be cancelled or forwarded to the originator (the person claiming the DD).

The bank will then get this amount back to themselves from the originator.

You will still owe the rent obviously, maybe write them a cheque and tell them not to request the money early ever again.

If its a Standing Order, you are in control and set the date yourself. This should not have been changed and there is no reason to take the payment earlier. If this has happened and the SO still states 12th, your bank will need to refund the charge and maybe loan you the money for a period until the correct date (tomorrow)

BenL

ahhh, so the money hasn't actually left.

OK, the originator now owes you the charge if the bank doesn't cancel it. They have broken their side of the agreement by claiming it early.

Blacksheep1979

sugarpants wrote: »

we dont have it till tommorrow.

erm make your mind up

sugarpants wrote: »

We have the money in there today

mustang1

Check your contract though - does it say your rent has to be cleared with the LL/agent BY 14th of every month? If so, the money may have been taken 2 days early to allow it to be processed through the banking system.

Realistically enough, it shouldn't take 2 days anymore as I thought most bank to bank transfers were fairly instantaneous.

Hope you get something sorted.

westv

mustang1 wrote: »

Check your contract though - does it say your rent has to be cleared with the LL/agent BY 14th of every month? If so, the money may have been taken 2 days early to allow it to be processed through the banking system.

Realistically enough, it shouldn't take 2 days anymore as I thought most bank to bank transfers were fairly instantaneous.

Hope you get something sorted.

That's what happens with mine I think but it does seem daft in this age of 2 hour bank transfers.

DawnW

Most bank transfers still seem to take 3 working days, and what has probably happened, as someone mentioned above, is that the rent is supposed to arrive in the LA's account BY the 14th. You must make sure it is available in good time to allow for the time it takes. Your bank will tell you how long if you ask - and may even refund your charge if you ring up and ask nicely etc, assuming it hasn't happened before. I don't know why it takes so long in this day and age - but it seems to!

unhappyvirgincustomer_2

DawnW wrote: »

Most bank transfers still seem to take 3 working days, and what has probably happened, as someone mentioned above, is that the rent is supposed to arrive in the LA's account BY the 14th. You must make sure it is available in good time to allow for the time it takes. Your bank will tell you how long if you ask - and may even refund your charge if you ring up and ask nicely etc, assuming it hasn't happened before. I don't know why it takes so long in this day and age - but it seems to!

Yeah mine takes 5 days from lloyds to a&l but when I was with natwest went instantly into a&l. Banks are dragging their feet and using every excuse under the sun to not implement instant transfers. Just another way for them to maximise the money they make off you!

clutton_2

your rent is due as "cleared funds" on rent day - when is your rent day ?

tbs624

Why is there such confusion over direct debits and standing orders? It is not a case of the payee/the LA requesting payment early - a standing order is an instruction from you to your bank to pay money into someone else's on/by a set date. A direct debit is a permission for someone else to take a specific amount from your bank on or around a set date .

This is likely to be a standing order payment - as Clutton & a couple of the others have said if you instruct a bank to make a payment *by* such and such a date they have to deduct it from your account prior to the actual date. Re-do your budget or talk to your LL about whether it would be possible to amend the rent payment date: he does not have to agree however.

sugarpants_2

Sorted it all out. I had to go to bank and pay it into the LAs account by dirext payment.

We pay by standing order not direct debit. Phew!

I need to find out about the charge though. I have a feeling I wont get the charge back as other posters say they need to take it out a day or two early for it to reach the LAs account.

The LA was fine about the payment being 2 days late too. Thank god.

Still anooyed at £38.00 charge. Thats a half a food shop to our family...Grr