Standing order question

benbranson

benbranson wrote: »

I would think it depends on the bank. I have 2 standing orders going from Natwest to Natwest and another from Natwest to Smile. Both scheduled for 1/1/11.

Both have credited the destination accounts today but are showing as leaving the Natwest account on 4/1/11.

:embarasse Hmm, have checked this again and the credit at Smile I thought was Januarys is the December one - It is a monthly SO. I guess I must have been asleep this morning when I posted too!! I think I'm not used to reading 2011 yet!

The Natwest to Natwest one has credited (treated as an internal transfer, as someone has already correctly said) but the NatWest to Smile one is showing as debiting 4/1/11 and won't credit until then.

Apologies for the confusion I have clearly caused!

Hammer_Time

I also had a standing order that comes out on the 1st of the month, it was the last payment so what did santander do, they cancelled it before the last payment went out. I phoned them at first they said I must have cancelled it, I said no, then they said we must have set it up wrong, no I set it up and it's not rocket science. I believe there is something wrong with there system.

tomitma

benbranson wrote: »

I would think it depends on the bank. I have 2 standing orders going from Natwest to Natwest and another from Natwest to Smile. Both scheduled for 1/1/11.

Both have credited the destination accounts today but are showing as leaving the Natwest account on 4/1/11.

Check internet banking on the joint account and see if the money has credited?

Yep my standing orders are going out on the 4/1/2011 also, they usually go out on the 1st.

damsidebear

Just to throw a 'cat amongst the pigeons' so to speak i assume it is the 5th (wed) in Scotland as it's a bank holiday there!? the reason i ask i receive a SO payment usually on Friday(this didn't happen) and i am still awaiting payment to show within my online account, the bank(my OH) where it is coming from does show it as being debited!? can anyone confirm?

Mikeyorks

damsidebear wrote: »

.... i assume it is the 5th (wed) in Scotland as it's a bank holiday there!?

Not necessarily ..... depends on where your Bank does it's processing from. Even in Scotland they're likely to be running their Batch processes tonight. But the delay could also be magnified if your OHs Bank still sends SOs via BACS ...... likely to be the 6th / 7th if that's the case?

But you must have very similar delays whenever the 1st hits a weekend? It's why I never use SOs and simply Login and do an immediate Faster Payment ..... they work every day.

damsidebear

Mikeyorks wrote: »

Not necessarily ..... depends on where your Bank does it's processing from. Even in Scotland they're likely to be running their Batch processes tonight. But the delay could also be magnified if your OHs Bank still sends SOs via BACS ...... likely to be the 6th / 7th if that's the case?

But you must have very similar delays whenever the 1st hits a weekend? It's why I never use SOs and simply Login and do an immediate Faster Payment ..... they work every day.

Thanks for the info, i'll check said account in the morning and see if i have a credit or not.

damsidebear

Just an update folks, the SO has now been credited to my bank account this morning.

dreamalittle

Hammer_Time wrote: »

I also had a standing order that comes out on the 1st of the month, it was the last payment so what did santander do, they cancelled it before the last payment went out. I phoned them at first they said I must have cancelled it, I said no, then they said we must have set it up wrong, no I set it up and it's not rocket science. I believe there is something wrong with there system.

They did the same to me this month with my last Council Tax payment for the year. Lucky I noticed and paid it manually instead.

pqrdef

meher wrote: »

Direct debit payments have gone out promptly

The timing of Direct Debits has nothing to do with the bank. The money is claimed by the payee. At weekends and holidays, some payees put the claim in early to ensure it arrives on time.


I don't understand why people cut their dates so fine. A BACS payment can take 7 days, if there's a 4-day weekend. A BACS SO is worse, because the kick-off may also be delayed. E.g if Christmas Day is on a Thursday, a BACS SO timed for Sat 20th Dec won't arrive until Mon 29th, 9 days.


And we're in for a hell of a mess at Easter, with two four-day weekends in a row. A BACS standing order timed for Good Friday April 22nd won't arrive until Tuesday May 3rd, 11 days.

And some DD payments, including credit cards and loans, will be originated very early.

The banks are in for a bonanza of fees and charges, and poor Wills and Kate will start their wedded life being blamed for messing up everybody's finances.