Bank trouble charges and car insurance trouble

kati123

This is a bit about two things (also new to this so don't know if this is the right thread or not)

1. My partner just bought me a car (he's paying for it) because of this it got put onto his name instead of mine. :mad: Because he is not on the insurance the insurance company (RAC) said that it must come from MY bank account, not his. :mad: We have been juggling money from bank account to bank account because of this (huge pain). they took the money out a few days late.
i get 'Direct Debit - Bisl Bacs Account' for insurance and an extra £20 charge for them not taking it out on time.

2. I just checked my bank due to not being able to pay for something online, and saw 'Charges as Notified' - i have an account with Bank of Scotland/Halifax and do not have an overdraft, not even an unarranged one available. When i try to pay for things my card just gets declined so why have they suddenly charged me?!

(apologise for spelling/lack of or too much info/wrong thread etc but its 4:17am and im tired and annoyed)

any advice/help?

Thanks

Kati

pmduk

If the direct debit was refused because of insufficient funds then the bank will have charged you, some companies also levy a charge for this as well. You don't say that a DD has been refused but as the money was taken late I suspect that that is what has happened.

kati123

the money was in there on the day they said they would take it, im guessing they tried the day before when i hadn't transferred the money to the account.

pmduk

Many banks require you to have the money in the account at the close of business on the working day prior to the transaction. Ask them what their policy is to avoid future problems.

daniel598

With hbos accounts the money needs to be in by 5pm to the day before the payment is due

realshannon

could you not get an overdraft? I know they charge £1 a day for it, but it would have worked out cheaper than these charges? I think you just need to be a little more conscious of what is going out and when. I have a book by my computer and also a spreadsheet set up so I can write up everything thats due and when and then tick it off in the book when its gone. Some do collect late, think they think they are helping but its a pain! NEVER rely on the ATM for your balance as it will always be out of date by approx 24 hrs (in my opinion) and lulls you into a false sense of security

kati123

Its the first time i've had a DD set up, as i don't like things being taken out my account. I will speak to them about an overdraft. Thanks for your comments. Any advice about the car insurance and whether there is a car insurance company that will let my partner pay for it instead of me. He's the working man, i'm the stay at home mum. The say its to stop money laundering but its a massive nuissance.

realshannon

think it is just a matter of working out when the money will hit your account from his and then ticking it off as gone so you dont think you have it to spend - once you have it all organised it will be fine - direct debits are brilliant really, even if you are organised, you never know what is going to happen on a daily basis and it is easy to forget. If the pay day or due day lands on a Sunday, its best to ask them when they take it, some take it on the Friday before, others the Monday following, that used to catch me out. The other thing I used to do is have bill payment instructions set up and I did everything via the telephone. Luckily the 0845 numbers are free with BT so it wouldnt cost anything if you are with them - At least you may feel a little bit more in control and than progress to internet banking, which is far better - you do need a little book or spreadsheet to keep track, its just practice.

Loughton_Monkey

kati123 wrote: »

Its the first time i've had a DD set up, as i don't like things being taken out my account. I will speak to them about an overdraft. Thanks for your comments. Any advice about the car insurance and whether there is a car insurance company that will let my partner pay for it instead of me. He's the working man, i'm the stay at home mum. The say its to stop money laundering but its a massive nuissance.

Sounds petty, but these are the Money Laundering rules. Look at it another way. Imagine you had a large claim - possibly at a time you and your partner had just split up. Would you like them to pay £10,000 to him on the basis that he paid the premium?

It's pretty straight forward. You want a contract with an Insurance Company, a Mobile Phone Company, Utilties etc.? Then you pay the money to them. They will deliver the service to you.