Paying cash into your bank account

glitter123

If you pay cash into your bank account would you expect it to cover the direct debits which come out on the next working day?

coco1277_2

Yes as long as its paid in before 3.30pm

CLAPTON

depends upon the bank

purch

depends how much the DD's are too :eek:

glitter123

It's Barclays (and the amount covers the DDs)

blueberrypie

glitter123 wrote: »

If you pay cash into your bank account would you expect it to cover the direct debits which come out on the next working day?

Lots of variables there. Which bank? - some require funds to be in the account by end of business on the previous working day. How was the cash paid in? - usually cash paid into machines won't be available for payments until the contents of the machine are processed. Which days of the week are we talking? - if you paid in cash on a Saturday, it might be Tuesday before it was available for payments.

mjm3346

Barclays T&C's

Cleared funds and cut-off times in Online Banking.

If you deposit cash at a branch after 3.30pm-4pm, the funds will appear on your statement and reflect in your balance the same day in Online Banking.
These funds, however, are NOT cleared funds and will not be available until the following working day. If the funds are transferred out of the account before then, you may incur charges to your account

glitter123

A friend raised this with me. She paid cash into her barclays account over the counter at a high street branch on a Friday. On the following Monday they took all her direct debits , so taking her into a negative balance and charged her £22 per DD. They then applied the cash she paid in previously so taking her back into the black.

I'm a Nationwide customer myself and cash paid in there is available at once

You can pay cash and cheques into your account at any Nationwide branch. Cash paid into your account will be available to withdraw instantly./

I was shocked in this technological age that Barclays is so backward.

premierfella

Useful information - I must admit I wasn't aware of this and am equally surprised.

Stuart_W

I'm actually a co-op customer so not aware of Barclay's routines.

However, since the automation of the post ofice, when I pay cash into Co-op at a post office - it is available instantly, either at a cash machine, online, or via debit card spend. It didn't used to be like this as post office deposits took a couple of days - even cash.

Barclays allow post office access don't they? - is this a way round it for you, glitter123? Worth a try.

sprob

Glitter123,

If I was in your friends position I would take this up with the Barclays branch directly , I certainly would not accept this and would expect them to refund the fees, failing that threaten them with the FSA.

They would know that the money is in the system, its cash after all not a cheque which would make a difference to the processing time.

Tell her to stand her ground.

SteveR