Will I get charged for this?

capehorn

I knew I had some payments to make on the 1st March and my account was short. On 28th Feb I moved some money into my current account to cover these payments. The account was credited instantly and I could see from my account that I had enough money to make the payments.

I logged in the next day to see that there was a negative balance for a short time. Despite the fact that the statement clearly states that the money was credited on the 28th Feb, it doesn't show up until the 1st March and the payment was taken out first.

The account is at Nationwide and I have no overdraft facility. Will I face a charge for this?

noh

No you should not get charged.
See the Flex Account FAQs here:-
http://www.nationwide.co.uk/current_account/managing_your_account/faqs.htm

capehorn

Thank you, I take it this is the part which is relevant?

"Bill payments
If you pay a bill today, you need cleared funds in your account before you carry out the payment. If you are setting up a bill payment for a future date, you need cleared funds in your account by 5pm on the day the payment is sent."

elfen

Debits always go out before credits so you'd be OK

noh

Whatever type of payment you made you are covered as you had cleared funds in your account the day before.
You are correct in saying that if the debit was a bill payment it is the balance at 5pm on the day of the payment that determines if there will be a charge.