Credit card direct debit falls on a weekend

book12

I was wondering when the payment due date of a direct debit is on a weekend (Saturday/Sunday), does the payment get taken on a Friday or Monday?

One of the months this year, one of the payment dates will fall on a Saturday.

dzug1

It depends on the credit card, but mine (MBNA/Nationwide) would both come out on the Monday. And I think when I had a Barclaycard that was the same.

Some banks would require the money to be there on Friday for a Monday payment.

dunstonh

direct debits get debited after weekends and bank holidays if they fall on a non working day.

However, your card provider may alter the debit date for that month if they are one of the ones that leaves it late. They would tell you on the statement.

cse

Depends on the lender, and even to a certain extent the weekend. If the DD is due on (for example) Saturday 30th, some companies will take it on the Friday rather than the Monday to make sure it falls under the correct month for accounting purposes. Others don't care so much. The only way to be sure is to ask the lender directly - but it's best to have the money available on the Friday to be on the safe side

chanz4

natwest/rbs used to take on a saturday if fell on monday but dated it as monday

YorkshireBoy

chanz4 wrote: »

natwest/rbs used to take on a saturday if fell on monday

I don't think that's correct.

To NatWest/RBS (as with a great many other banks), Monday starts after the Friday night processing run. They simply 'earmark' the funds due for payment on Monday, meaning they're not available to spend over the weekend.

So, the 'available balance' will be reduced but you will continue to earn interest on the 'balance' until Monday (or save overdraft interest until Monday if you're in debit).

but dated it as monday

Because that's when it actually leaves your account and affects your 'balance'.

James900

I have had this many times with my credit cards and generally for me what happens is that the money goes from my account on the friday. I suppose every lender is different though so maybe you should check with your lender personally.