Alliance & Leicester Standing Order Dates

climbintheladderouttadebt

I can find no reference to standing orders anywhere online to help answer the following question:

If I have set up a standing order to leave my account on the 31st of the month, and we have one of the months where there are only 30 days, does/should the standing order leave my account on the 30th, or the 1st?

Many thanks!

zppp

climbintheladderouttadebt wrote: »

I can find no reference to standing orders anywhere online to help answer the following question:

If I have set up a standing order to leave my account on the 31st of the month, and we have one of the months where there are only 30 days, does/should the standing order leave my account on the 30th, or the 1st?

Many thanks!

IMO, Putting the 31st on a mandate would signify last woking day, so it would debit on the 30th.

EarthBoy

Don't know. It could be 30th, as zppp says, but they might follow the same rule as for weekends and bank holidays. Most banks don't pay standing orders on weekends and bank hols, as they are not working days, so they pay them on the first working day after the standing order date. If they follow that rule in your case, they would pay the standing order on 1st instead, (presuming that's also a working day). But you will need to ask A & L to make sure.

molerat

It will leave on 1st. You have instructed them not to pay it before the 31st.

climbintheladderouttadebt

Thanks everyone for the replies! Upon checking my internet banking, the standing order I have set up for the 31st of every month is being debited from my account on 30th July (a Friday, not Saturday 31st nor Monday 2nd August), and came out 30th June (not today as I'd believed it would).

What's annoying is that I had no idea the date would go back and not forwards (if that makes sense!) I couldn't afford my food shopping yesterday because I did not know of this rule. There is no info anywhere from A&L to state what happens when the SO's set up for the 31st and there is no 31st in a month, nor what happens if the date you have the SO up for is a Saturday or Sunday.

A rule's a rule, fair enough, but I'd like to have known previously, or see it in black and white now.

Well I know now, and can budget accordingly. And make sure I check the next scheduled SO date on a monthly basis!! :mad: