For those that think that it will only be FD that charge see comments from Nationwide

Hazzanet

AndieJagain wrote:

regarding D. there'd need to be stricter regulations on the way banks process transactions before such a thing is introduced IE payments IN processed before payments OUT on any given day (and not charging me £50 for taking a £10 payment that puts me 30p overdrawn before processing a £100 transfer in on the same day, as a certain bank did to me recently)

Most banks are quite strict on the rule - Sufficient funds must be in the account at the close of business on the previous working day to meet automated debits due on the following day.

You can't rely on a BACS credit coming in to meet same day debits.

AndieJagain wrote:

Civil offence maybe.

Not sure the banks could be arsed to take you to court. Perhaps the closing of the account and sending you packing would work well enough, as I understand it does in Germany and France.

AndieJagain

Hazzanet wrote:

Most banks are quite strict on the rule - Sufficient funds must be in the account at the close of business on the previous working day to meet automated debits due on the following day.

You can't rely on a BACS credit coming in to meet same day debits.

not rely on, but when one goes in, why should it be processed after outs?

sorry, but the ONLY reason I can see for bank processing outs before ins is that they are hoping theouts will take you over before the in comes in, therefore enabling them to charge you stupid amounts.

& it's not just BACS credits, it transfers, cash deposits, debit card refunds, all processed after outs. the latter taking up to ten days, yet they can deduct the payment instantly? .
If I have to PAY for the priveledge of being a customer, then that customer service & product MUST be spot on. EVERYTHING instant, and either processed in the order they come in, or in's before outs. or charges based on close of business each day, not throughout that day.