What will happen

Smits

Not sure if this is the right forum but...

I'm scheduled to pay my orange phone bill tomorrow but there wont be enough money in the account until tomorrow due to banks not being open on sundays and them charging me for two months at once.

So what will happen? It's set up by direct debit but theres £15 short in the aco!!!! until tomorrow morning when i go down and deposit some money..

OneADay

Tomorrow is a bank holiday.
Your best bet is to talk to your network about deferring payment to later or in worst case phoning your bank today and asking to cancel the direct debit - and quickly pay the money manually when account is in credit on Tuesday. Or perhaps asking for an overdraft facility to be arranged on the account today over the phone (if the bank people can do it is another matter).

If its cash you are sticking in, you can do that with a cash machine normally with most banks - best to do it today.

mobilejunkie

A direct debit won't come out of your account until Tuesday even if it's due tomorrow. However, it may be rejected first thing in the morning unless you are allowed to go into overdraft. If you have an agreed overdraft paying cash in on Tuesday should avoid interest charges. It is too late to cancel the direct debit (or defer payment with the network who instigate the payment three days or more before the due date for it to come out of your account) and is the worst possible action you could take.

I am assuming that you are with a clearing bank rather than a building society or non-clearing bank - where a cash deposit may not appear in your account the same day, possibly. It would be a good idea to speak with your bank to clarify/explain at the first opportunity.

Smits

Oh yeah it is bank holiday so im guessing it wont be open again!

I can't de[pst money at a cash machine i have to go inside to use a certain machine for notes and the clerk for coins.

I'm with HSBC and don't have an overdraft.

It says on my ebill for orange that payment will be made by direct debit on or after 1st june

Also, when i deposit money, it goes in instantly.

OneADay

The direct debit could go out first thing 1st June (i.e. midnight), the payment would put your account negative. Then you will get whacked with a fee from HSBC.

Your best bet is talking on phone today to Orange first (see if they can change the date) or the bank to cancel the direct debit.

Am sure I have seen the banks open the doors for access to the cash machines on bank holidays (in a large city - not small towns).

mobilejunkie

1) It's too late to cancel the direct debit. 2) If it was cancelled it could lead to far worse consequences than interest. 3) Interest would be avoided if the cash is paid in on the day - but a special authorisation fee might be incurred which would be higher but allow the bank to pay the direct debit. 4) A failed direct debit might incur charges at both ends.

watcherman

HSBC is a faster payments bank, if you know anyone with Lloyds, HSBC, First Direct, Natwest etc that could transfer the money for you into your account, it will be there instantly, even today or tomorrow. Then give them the cash.

Smits

Alright how much would i expect to pay to hsbc?

I'm gonna try contact orange anyway and see what i can do. If i didnt have the direct debit, i would be able to pay it on the day, just not a midnight..

OneADay

Probably about a £10 I would imagine as its a small amount - but it could be £25 who knows -phone to find out.

Smits

Alright thats not too bad then considering it's my fault really for not putting the money in earlier.

Anyway, i rang orange and they said theres not much she can do since everythings such even collections at orange tomorrow. She said that the direct debit will bounce and then when i go into the bank on tuesday, deposit the money and give them a ring and then collections will open so i can pay by card on the day.

She also said that direct debit might be cancelled and i'd just reinstate it on that day.

mobilejunkie

Tell your bank about it too; they might waive any fees since you've drawn it to their attention immediately.