Can someone help me how dd's on Bank holidays work?

gabyjane

Ok just checked my account thinking id'e have quite a lot in there (paid £800 in this week alone)..but i am a bit overdrawn?..checked through it and looks like all our main bills have come out on the 1st of June. The thing that annoys me is i am showing as overdrawn yet haven't had the chnace to even put any funds in as thought it came out the day after..obviously not? If i put funds in today or tom i am obviously out of the red so why does it show up befroe it even has gone out?

i am not sure that makes sense really! guess im just cross i have had lots go in and still getting nowhere!

jambosans

If the payments are dated 01/06/10, then there is no issue. It's common to see payments "debited" over the weekend and post dated the next bank working day. As far as your bank is concerned the weekend/ non-working days do not exist. This has no detrimental effect on your account, aside from restricting access to funds due to debit (the logic behind this is simple, you should have cleared funds in the account the working day before debits are due off).

gabyjane

Hi ok sorry to simplify the bills are actually due out on the 2nd of each month..looking at it now they are supposed to come out on wednesday aren't they? why does it still show on my statement as being the 1st when they are due out on what i call a normal day?

I was £700 odd in credit yesterday and today not as it is showing like you said ahead of time for the bills to come out..why is this relevant when the day is not a B/H or is it usually done like this?

Thanks for the reply x

YorkshireBoy

gabyjane wrote: »

..the bills are actually due out on the 2nd of each month...

I'd be very surprised if *all* your DD originators decided to request their payments a day early.

Are you certain they're due on the 2nd?

sscott5581

I have an account with Natwest and all my direct debit for 1st June have been debited today.

Steven

YorkshireBoy

sscott5581 wrote: »

I have an account with Natwest and all my direct debit for 1st June have been debited today.

I think you'll find the funds have simply been 'earmarked', not debited.

You'll still be earning interest (at a pitiful rate) on the funds, or reducing any debit interest charged, until Tuesday morning. It's just that you can't spend them because you can't replenish them prior to Tuesday.

gabyjane

Ok apologies as seems i am likely to be wrong..(happens sometimes!)..these are transactions going back over my statements.

March: 1st
April: 1st
May: 4th (was there a B/H then as dont have diary to hand?)
June: 1st

I think the thing that threw me was the fact i have a planner thing for the bills in my diary and they are down as the 2nd so have always assumed they have come out then. I guess it has to come out at some point so just checking..dh had fraud on his card so very cautious of everything now and check regularly!

Thanks for the replys x