Current Account Question

TheEffect

I have two Direct Debits coming out tomorrow (23rd) for around £75, and I have £70 sitting in the account. I get paid tomorrow also. Does the money for the DD's need to be in the account before the day they come out or will a credit on the same day be taken into account?

Also, if I set up a standing order for put £50 into my saving account on the 23rd of each month, will it matter if I have under £50 in the account, as I my wages will go in on the 23rd. Is it better to setup this standing order for the 24th?

Thanks

topbombing

your DDs will be fine. items will be paid with funds in that day. standing order will be fine as long as your paid same day teh dd / so comes out

Rafter

Depends on the bank.

Some are a bit sharp at taking all the money going out that day first, charging any overdraft or failed direct debit fees and then applying any deposits afterwards.

You are always better to try and time things to give yourself a few days to spare.

R.