Natwest = Mon things done on Sat

continualdiamond

I know the title is confusing, but basically if any DD is due on a Monday or my pay day is Monday (22nd of every mth) then it actually has affect on my account the Saturday before.

So say a £10 DD falls on a Monday, my bank account will say Mondays date on the Saturday before when i check internet banking, but the funds have already been factored into the account balance.

Same for today, its my pay day but on Saturday 20th my pay was available, however the date it said i'd been paid was the 22nd.

When i mentioned this at work someone was very quick to point out that it probably isn't available and i could go overdrawn. But i disagree with that, as the balance and available balance was the same, therefore my pay was available.

Why does this happen? I mean for everything being processed and account balance showing the changes at the weekend yet the account date will say Mondays date.

Mikeyorks

Because their software is ancient and can't cope with weekends and Bank Holidays. So - in effect - they work that the day after Friday is a Monday. It's one of the main reasons that Faster Payments (which work every day) has been so difficult for some banks to implement.

If you want a Bank that doesn't pre-process Monday stuff on a Friday night and gives you an accurate representation of your Balance ... Halifax is one of the few. And even they do odd things with SOs on a Sunday. And, perversely ..... their implemetation of Faster Payments has (is being) been a bit dire.

kavomix

Ahh but at least with the natwest system it will pay or deduct the money on the Friday night, and make you aware if you are possibly due to go over. No charge will be issued until the Monday itself, so you can actually send a faster payment into your account on the saturday (from a bank that can send faster payments) and save yourself the bounced DD/SO or fine.

For interest purposes any money dated the Monday won't start counting towards interest till then, but you can actually send it out to a savings account via faster payment and get 2 extra days on your interest (thats if your getting paid that much that two days interest makes a major difference).

I quite like the whole having your pay or DD deducted on the Friday night, so that it makes it more obvious how much you have spare for that weekend (esp last weekend of the month)

continualdiamond

Thanks for the replies. I have become used it as have been banking with them for 2 years, so i always check Sat morning that stuff that is due on the Monday DD wise or like my pay has been 'sorted' so to speak.

People at work today just got very heated about the fact that my pay was available on Saturday instead of today and they didn't get paid until today like where mean't too.

cottager

If you're up at something like 4-6am on Tue/Wed/Thu/Fri/Sat mornings you can pretty much watch the Natwest overnight updates in progress, though they're not finalised and you don't get the full picture on all account screens till around 8am. It's always surprised me how people seem to be 'thrown' by what they see over a weekend (I don't mean you, Diamond), many thinking that because they can see Monday's transactions from early Saturday onwards, DDs are being taken too early, so their available balance is lower than it should be, and so forth.

What you see from Saturday through to the early hours of Tuesday is no different to what you'd typically see on any other days from roughly 3-4 am onwards. But for those other days you see it for only 24 hrs before everything's updated again, whereas when there's a weekend (which don't exist in Natwest-World) it stretches to 3 days, or longer if there's a b/holiday.

stclair

continualdiamond wrote: »

Thanks for the replies. I have become used it as have been banking with them for 2 years, so i always check Sat morning that stuff that is due on the Monday DD wise or like my pay has been 'sorted' so to speak.

People at work today just got very heated about the fact that my pay was available on Saturday instead of today and they didn't get paid until today like where mean't too.

Any transactions for a monday will always show on saturday with natwest/rbs.

Because when the system updates at 02.30 on Friday/Saturday the system thinks its Monday lol

willo65

Mikeyorks wrote: »

Because their software is ancient and can't cope with weekends and Bank Holidays. So - in effect - they work that the day after Friday is a Monday. It's one of the main reasons that Faster Payments (which work every day) has been so difficult for some banks to implement.

but this didn't seem to affect the way Natwest implemented fp

Mikeyorks

So - are people who happily accept this sort of smoke and mirrors .... the ones who set their alarm clocks ahead by an hour? So they have an extra hour in bed after it goes off!

'Cos it's always puzzled me.

Mikeyorks

willo65 wrote: »

but this didn't seem to affect the way Natwest implemented fp

How, then, do they date Sat and Sun in payments by FP?

sscott5581

I have also noticed that debit card payments are only applied to account Tuesday to Friday.

Blackpool_Saver

aaaah remember when we knew none of this and couldn't refresh the page and see statements change, in those days people really thought that banks closed over the weekends