LloydsTSB question

jackieglasgow

Hi All,

I have a LloydsTSB current account, and have a standing order due to go out tomorrow to pay a bill which isn't due until the end of the month, so I decided to go online and change the payment date. The payment has already been taken from my account but dated the 14th! Which leaves things a bit tight this week. Before I phone them, I'd like an idea of what to expect from them, and what rights I have, if any, to request they stop the payment.

TIA

pinkdalek

Don't work for Lloyds TSB but I would imagine with any payment such as standing order/direct debit then you would have to cancel it at latest the working day before it leaves, just as you would have to have sufficient funds in the account on the working day prior to it leaving so it can be paid.

Best advice would be to speak to them as soon as possible - if you can today (Sunday).

poet123

I hve noticed that they always process Monday payments on a Sunday but date them Monday, never been sure why. You would have expected it to be the other way around. Not sure what you can do now though, sorry not to be of more help.

jackieglasgow

Having trouble getting through to them, I am having a cuppa before trying again. I move my standing orders about quite a lot, depending on my OH's income, and have done it at 11.30pm the day before its due out before, and its been fine, I am so annoyed as I knew yesterday I wanted to change the date on this one but forgot to do it.

YorkshireBoy

poet123 wrote: »

I hve noticed that they always process Monday payments on a Sunday but date them Monday, never been sure why.

It's because as far as LTSB are concerned Monday starts at 12 noon on a Sunday.

http://www.lloydstsb.com/internet_banking/payments.asp (click 'limits and time frames' and scroll down)

rb10

From the terms and conditions [8.2(p), page 10] of your account,

Lloyds_TSB_T&Cs wrote:

You can cancel a standing order and any other payment which you asked us to make on a future date as long as you tell us by the end of the last working day before the payment is due to be made

So a payment due on Monday would have to be cancelled by Friday in order to not leave your account.

Still worth phoning them though, they might be able to stop it.

jackieglasgow

Thanks for that Yorkshire Boy, looks like I am jiggered then. Might be beans on toast all week, lol. I'll report back.

jackieglasgow

rb10 wrote: »

From the terms and conditions [8.2(p), page 10] of your account,



So a payment due on Monday would have to be cancelled by Friday in order to not leave your account.

Still worth phoning them though, they might be able to stop it.

Thanks for that, although its not quite true in my case, as I tend to sort out all my changes on a Saturday for a Monday, I will emphasise this when I speak to them.

rb10

jackieglasgow wrote: »

Thanks for that, although its not quite true in my case, as I tend to sort out all my changes on a Saturday for a Monday, I will emphasise this when I speak to them.

Yeah, that's why I still suggested speaking to them.

The fact that it's in the T&Cs just means they aren't obliged to do what you request, and can turn around and say No.

[Deleted User]

Hi,

jackieglasgow wrote: »

I tend to sort out all my changes on a Saturday for a Monday, I will emphasise this when I speak to them.

jings, do you juggle your payment dates around every week?

Thought the idea of SO/DDs was that you set them up and forget about them.

Why not just arrange them all to come off the day after wages go in?

jambosans

There's little use in speaking to PhoneBank. (As others have suggested) LTSB begin processing payments due out on Monday, in batch, on a Sunday afternoon. The reasoning? It's to do with the way LTSB's systems run batch credits and debit. During the week, batch processing begins (if memory serves) between 10pm and 12am the previous working day. The exception is payments for Monday, which, instead of being entered into BACS on the Friday evening, are delayed, and done on the Sunday afternoon. Why? Because that's how ye olde Lloyds does it.