Please help urgently! Natwest - payment due tomorrow but no funds in account

want2bfree84

Hi

I have made a big mistake! I made a payment to go out to my dad tomorrow for £200, but have been skint so he said to leave it til next week.

Well, I forgot to cancel it by 6.30pm, and now Natwest can't/won't cancel it

It is a simple step account, so no overdraft. When I set the payment up, it says "subject to sufficient funds being in your account on 9th September the payment will be made"... well, there are not sufficient funds, so am I right in thinking that it just won't go out?

It's not like a direct debit where it'd be requested and go anyway, I set it up myself

Please help, really worried

please-let-me-be-lucky

Is it a Standing Order? If so, and you have online banking, you MAY be able to change the date/day its due, and thus avoid the payment leaving your account tomorrow and avoid the charge. However, most online banking must be done before 8pm to be actionned same day so Im afraid this may not be possible:(

Good luck

[Deleted User]

I would suggest that it is a Standing Order and will leave the account in the same way as a direct debit, regardless of you setting the payment up it will be treated the same should it fail.

I would simply call the bank and ask that they stop this. I have never had any problem doing this in the past.

Do you pay a charge for failed payments or just the daily overdraft and unarranged overdraft fee? If so then I would suggest it will not cost a great deal if it fails, most banks won't make the payment of this value unless you have a good record and your wages are regular and are of high value.

HTH

chunkychocky

Or ask your dad to transfer it back using FPS as soon as the money arrives in his account. As long as you aren't over your overdraft limit by midnight then you are fine.

[Deleted User]

Sorry I read again, if you have asked them they cannot refuse, they can however state that it is too late, is this the case??

As you say you are skint I would guess you don't have huge payment in to your account, if not they will probably just refuse it, most banks now do not charge for refused payments so no problem if so.

HTH, let us know how it does go.

[Deleted User]

chunkychocky wrote: »

Or ask your dad to transfer it back using FPS as soon as the money arrives in his account. As long as you aren't over your overdraft limit by midnight then you are fine.

Now you have made me wonder, I have never known this so can you explain pleaseeee. If you go overdrawn on Monday morning at open of business say 6am, do you have until 11.59 PM on Monday to get this corrected?

If so that's a great idea. I'm learning all of the time.

HAYLEY8005

i know with my lloyds account once i made a boo boo and didnt have funds in there for a standing order they just simply didnt pay it , when i called them to ask anyway so i knew in future they said unless the funds are in my bank by 8pm the previous day it will not leave the account so that way i wasnt charged bot sure if natwest work the same .

Twister84

It should bounce back into your account overnight tonight.

jellybean39

Most accounts now dont let you go overdrawn if i go over mine at barclays they return the standing order and charge 8 quid for the privalage.