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Question about standing orders / direct debits
tamachan3
Posts: 1 Newbie
Hi all,
Just wanted to ask a quick question about standing orders (I am banking with First Direct).
If the day of the SO falls on a weekend, would the payment be made on the friday before or the monday after? Currently my salary comes in on the 15th and if on a weekend then on the friday before. I have set up standing orders to pay rent / bills on the 16th - is there any chance these might not be met if being paid on the friday? I have read that you should have funds ready the day before paying standing orders out - is this true?
Just wanted to ask a quick question about standing orders (I am banking with First Direct).
If the day of the SO falls on a weekend, would the payment be made on the friday before or the monday after? Currently my salary comes in on the 15th and if on a weekend then on the friday before. I have set up standing orders to pay rent / bills on the 16th - is there any chance these might not be met if being paid on the friday? I have read that you should have funds ready the day before paying standing orders out - is this true?
0
Comments
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If the day of the SO falls on a weekend, would the payment be made on the friday before or the monday after?
On the working day following the weekend (normally Monday ... but later if Bank Holiday).
Yes - you generally need the funds in before the SO is due out. But if your salary always precedes weekends / Bank holidays (when it falls within them) then what you have done is OK.If you want to test the depth of the water .........don't use both feet !0
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