Direct Debit Problem, anyone else?

noh

bev309 wrote: »

It will say Mondays date, but the money is actually TAKEN & leaves the acct on the Saturday, so if you haven't got any money in, it will leave you overdrawn. I'm not sure if you have until close of business Monday to get the money into the acct to stop charges though.

No.
The money leaves the account on the date shown which will be Monday.

bev309

noh wrote: »

No.
The money leaves the account on the date shown which will be Monday.

NO -
I have had it happen to me - the money leaves your account on the Saturday, leaves the balance - gone. It has obviously left the OP's account too otherwise there would be no query?

noh

bev309 wrote: »

NO -
I have had it happen to me - the money leaves your account on the Saturday, leaves the balance - gone. It has obviously left the OP's account too otherwise there would be no query?

No
The money leaves the account on the date stated.
Saturday and Sunday are not working days no payments are made on those days (except those made using faster payments).

jonesMUFCforever

The money does not leave your account early but is earmarked so you can't ''double'' spend.
This happens with many automated credits as well as debits. IE money due in on Monday will often show in and available on Sunday.

Mikeyorks

bev309 wrote: »

NO -
I have had it happen to me - the money leaves your account on the Saturday, leaves the balance - gone. It has obviously left the OP's account too otherwise there would be no query?

You can make it bold as much as you like ..... but I'm afraid you're still wrong. DDs go via BACs ...... and BACS has every weekend off ..... so it can't go anywhere until the Monday. It's pre-processed either in the Fri night Batch or during Sunday ...... and leaves in the early hours of Mon morning. Hence the Mon date on the transaction.

amy.c wrote:

Its never happened to me before, as all my other DDs have come out either on the day, or on the following monday if they were due out at the weekend

It's never happened to you before as you say you've been with Halifax ... which is why. Unlike virtually every other Bank they run Batch on a Sat and Sun ..... so the DDs due out Monday are processed during the Sun night. There is no pre-process and no artificial reduction in your available amount. (But can't say what will happen once they migrate onto the Lloyds IT platform)

glider3560

As others have quite rightly pointed out, the direct debit payment appears on the account on Saturday/Sunday and is deducted from your account balance. However, the transaction will have Monday's date. On your statement, it will only show as being deducted on Monday and will be treated as having left on Monday for overdraft charging.

jonnyd281

I bank with Natwest, the DDs due on a Monday usually show online as having gone out however they are a different colour, and if I download a statement they don't show up.

stclair

opinions4u wrote: »

Anybody else wish to argue the point?

The information you provided is correct.

Banks have not control over the date or amount of a direct debit taken.

amy.c_3

stclair wrote: »

The information you provided is correct.

Banks have not control over the date or amount of a direct debit taken.

i don't see how this can be true as my rent is going to the same company, to the same account and on the same date as before, yet since changing my bank account this is the first time its happened.

and i spoke to the bank directly who said the money had indeed left my account overnight on fri/sat, thus rendering my card useless at tesco on saturday afternoon. however, the guy on the other end of the phone was about as useful as a chocolate teapot. he even said they've had tons of complaints about this every weekend.

stclair

Just so you know for future reference.

Any direct debits or standing orders dated for Monday will debit your account on a saturday affecting your available to spend.

The reason for this is because on a friday night / sat morning when the system updates the date automatically changes to mondays date.

So if you do go overdrawn over the weekend you have until 14.30 on Monday to credit your account to cover the transactions therefore you will not get charged.

This has always been the case for many years it does have its advantages though because if you was to have a credit to your account on monday it would be available to you on the saturday.

So remember that Saturday is really a Monday in Natwest Terms ;-)