A&L. How do they apply credits/debits?

pfpf

hello.

A&L: Premiere Direct account.

on the 8th November a bank credit arrived in my OH account for £500.00. this gave a balance of £950.00 inc. overdraft.

later the same day my OH arranged a transfer for the same £500.00 to another current account to leave the balance at £0.00 (plus OD).

nothing odd so far and we all know A&L only update these things overnight!

thing is, today, 9th, the account says.

8th 0.00
8th -500.00 (-50.00 inc OD)
8th 500.00
8th 0.00

so what i am saying is that the debit has been aplied before the deposit, even though it was actually the other way around.

there was no time when OH was overdrawn other than the statement saying it.

is my OH safe from a charges point of view? i am 99% sure she is, and its just the way things show up!

can anyone put our minds at ease?

thank you.

YorkshireBoy

Were the 'available balance' and 'balance' figures the same at the time the payment was initiated?...because they say in the T&C's...

21. Order of Transactions
21.1 We shall not be obliged to carry out transactions on Your Account in any particular order.

http://www.alliance-leicester.co.uk/currentaccounts/ec03964.pdf

oldfella

my understanding is you will be OK - the transfer didnt actually go out until the next day

it becomes a problem if they are scheduled overnight transactions because the DBs hit before the CRs and you are hit with a charge

the basic issue is they want the money in the day before it goes out.

Mike

pfpf

my available balance was £500.00 + £450.00 OD when the £500.00 payment was paid out.

the £500.00 was in my account at 9am, and the £500.00 that was paid out wasnt initiated until after 2pm....they are saying they can alter this order and then charge you if they wish?

so why would they show the figure as a -?

on the same topic, if the £500.00 has been recieved via BACS and is showing in my account, surely that's "available balance" regardless?

all the transactions were on the 8th and yes i did think that things happened overnight, but all the dates in question are on the 8th as shown in the OP.

thanks.

Fait_accompli

Hi pfpf - this has happened to me a few times. I'd put cash in 11th, it'll show up online as in the account so I'd then transfer it into my ISA. The next day when I view the running balances, it portrays the account to have gone in excess of an overdraft when transferring the money, then my cash deposit is acknowledged. This is obviously false as the online banking would never authorise such a transaction (i.e. transfer money from an empty account into an ISA). Don't worry about it at all, I've never been charged for this, and if you did, it'd be more than irrational!