Can they do this???

willo65

sarjay32 wrote: »

Thanks for your replies, and yeah i do understand that this may be standard practice but what is most annoying is that i have never been informed of this before! I have banked previously with Nationwide and Royal Bank of Scotland and have never had this done before!

If i had known about it, i would have made sure i have more money available to me from my other account! Luckily for me, i have a very kind mother-in-law! but am still going to see the bank manager on tuesday.

Thanks again fro your speedy replies

Sarah.xx

Not uch poit going down to the bank they will just tell you what others have and it will be the waste of a journey. What exactly would you want to achieve from visiting the bank on tuesday?

jambosans

willo65 wrote: »

Not uch poit going down to the bank they will just tell you what others have and it will be the waste of a journey. What exactly would you want to achieve from visiting the bank on tuesday?

I agree. You have bills to pay. It is a bank holiday weekend so you can't transfer money in (unless Clydesdale accept Faster Payments) and you can't deposit money in branch. They have earmarked funds to avoid you incurring charges from the Direct Debits/ standing orders, and you're angry about this?

Even with a payment due in to the account on Tuesday, there is no way to know if the payment will be in before the Direct Debits and standing orders leave. Like previous posters have stated, you should really have cleared funds in the account the working day before any payments are due off. So earmarking cleared funds now is sensible.

Going in to branch is a waste of your time and theirs. Clydesdale will probably highlight that it is a practice in your best interests, which I agree with.

withnell

To be fair, you're trying to withdraw money that won't go in until Tuesday - surely the fact that in the past you've been able to get at it in advance has ben a pretty good freebie from the bank?

KILL_BILL

id change banks if i where you

clydesdale bank are known to be crap

change to co-op - never had a problem with them and they are available on the phone 24 hours a day.

gt94sss2

sarjay32 wrote: »

Thanks for your replies, and yeah i do understand that this may be standard practice but what is most annoying is that i have never been informed of this before!

The only big banks who don't do this are HSBC/First Direct and Lloyds..

Regards
Sunil

peachyprice

jambosans wrote: »

Even with a payment due in to the account on Tuesday, there is no way to know if the payment will be in before the Direct Debits and standing orders leave. .

Child benefit goes in at around midnight, sometimes before.

I have to say, I've never had this problem with HSBC, Barclays or Co-op.

ALIBOBSY

My child benefit was due monday and as always with bank holidays it is released a day earlier and landed in my account on friday.
Our bank shows tues pending actions BOTH payments in and out (credits in first) which seems fair. Is the OP saying the payments out are being held against the balance but not the payments in?
Given that benefits are paid by bacs and that by the last working day before it is due in ie. friday in this case it can't be recalled and the bank can see it is pending it is crazy to hold debits but not credits against the account.
Most people have dds due on payday, if a bank did this to us and held the dds, but not the bacs wages payment we would be stuck most months as we only leave so much in the current account, with the rest into savings.
It may be allowed but its rubbish service.

ali x

esmerelda98

The bank are free to take Tuesday's direct debits and standing orders at a second past midnight on the Tuesday, and the effect of this is pretty much the same as if they debit the account after the close of business on the Friday.

esmerelda98

Alibobsy, I see your point, but to be honest I'm not surprised if that's what they are doing. Their raison d'etre is making money. I do get surprised at people bleating 'It's not fair' the whole time. The nature of English contract law has always been very adversarial - It is up to you to look out for yourself. Nowadays, the Government has intervened so much into consumer affairs in the banking sector that people seem to think that it is the bank's job to look out for them.

This is not directed at the original poster, it is just a general comment. I have been in a similar situation to her and I was surprised at first, but it made sense to me when I thought about it. The fact that I didn't go overdrawn when it happened may account for my calm reaction, though.

sarjay32

thanks for all your replies.

maybe i didn't explain it fully but i'll try to explain it better (although i may be confusing myself now!),

my tax credits go in on a thursday (147.39) and my child maintenance goes in on a friday (50.00) therefore, i ended up with just over 200.00 in my account (as i'd still got a few pounds in there). I withdrew £50 on friday (at lunchtime) and my balance was showing as £150.00 available to withdraw. When i went back on the saturday i was £38 overdrawn. Now i totally understand them earmarking funds for a direct debit (which was due today - monday - for £99 - which would have been left untouched) but they then have earmarked a standing order for £10 to go into my savings account and £125.00 standing order to go into my rent account due every tuesday, they accounted for my child benefit which goes in on a tuesday but not my partners wages, which also go in every tuesday!

It annoys me because it seems they can pick and choose what they credit and debit when they want! without a thought for the actual person whose money it is, i try very hard to manage my money and following all the useful advice and tips from this great site i have managed to budget accordingly, but this totally threw me! Maybe i am just not good at understanding the ins and outs of the banking world! but then i am just an ordinary mum trying to do the best for her family.

Thanks again for your replies.