Bank account which happens first

sammy509

Anyone know? my wages goes in the bank by bacs on 2nd September the same day as my mortgage comes out anyone know which happens first?Poohing myself:)

Quiet_Life

The banks deal with money out first and then credits to your account later in the day.

smartiedriver_2

Quiet Life is correct, however both will happen very early on so you shouldn't have a problem with the DD being paid.

Azrael_1701

smartiedriver wrote: »

Quiet Life is correct, however both will happen very early on so you shouldn't have a problem with the DD being paid.

Not always, some banks require funds to be in the account the working day before, and even if the credit goes in the same day, the DD will still fail.

MoneySaverLog

Its always best to arrange for as much as possible to go out the day after you get paid to avoid this type of scenario.

Easier said than done sometimes however as some companies refuse to move the due date of direct debits. It annoys me they cannot take it out on the 16th of the month and sometimes take it as early as the 13th of the month which is 2 days before payday itself.

madgagoo

sammy509 wrote: »

Anyone know? my wages goes in the bank by bacs on 2nd September the same day as my mortgage comes out anyone know which happens first?Poohing myself:)

What bank? If it is Natwest or RBS then you'll be fine. Can't speak for any other banks, however if you tell us which bank I'm sure someone will be able to inform you if there will be an issue.