How long for a Direct debit to be sent back with Lloyds?

rich_shot2003

I have just had a Direct debit come out of my Lloyds account 2 days early so now im got a large minus balance on my account but on the account that i have(basic) i can not have a minus balance so how long does it take for it to get sent back and come off my account?

Can i call bank and ask them to cancel the direct debit payment and put my account back in the black or is it then when payment has been made it can not be stopped

pmduk

If it was taken early you should tell the bank you want to invoke the direct debit guarantee

rich_shot2003

pmduk wrote: »

If it was taken early you should tell the bank you want to invoke the direct debit guarantee

i called my bank and they said there was nothing they could do so now i had some money go into my account which was due to go in anyway but can not get to it as the Minus i had on my account has taken what was paid in.

so not a happy bunny now.

Dr_Cuckoo3

rich_shot2003 wrote: »

I have just had a Direct debit come out of my Lloyds account 2 days early so now im got a large minus balance on my account but on the account that i have(basic) i can not have a minus balance so how long does it take for it to get sent back and come off my account

So Lloyds TSB have allowed a minus balance and paid the direct debit - if that is the case it will not get sent back and come off your account

rich_shot2003 wrote: »

i called my bank and they said there was nothing they could do so now i had some money go into my account which was due to go in anyway but can not get to it as the Minus i had on my account has taken what was paid in

click on the direct debit in internet banking and the cancel button - does it say visit the branch if you want to stop the payment leaving today ?

The direct debit can still be cancelled and recalled if you use telephone banking today and ask for the "periodic payments" department and it will be back in your account while you are on the phone

jonesMUFCforever

Are you sure the payment is early, 2 days from now would be Sunday a non working day - what do the terms and conditions of the d/d you set up say about circumstances like today?
By the way the d/d will be returned unpaid and you will be charged for a d/d failure.

rich_shot2003

Well after all i had some money go into my account today so that has put my funds back up just over 0.00 so direct debit has been paid.

just pain in the backside that has happened as the DD should have come out 18th each month so though it would come out Monday with 18th falling on Sunday.

Too late now to do anything.

jonesMUFCforever

Did you check about the D/D

dzug1

rich_shot2003 wrote: »

Well after all i had some money go into my account today so that has put my funds back up just over 0.00 so direct debit has been paid.

just pain in the backside that has happened as the DD should have come out 18th each month so though it would come out Monday with 18th falling on Sunday.

Too late now to do anything.

Even so with many banks the money has to be there last thing Friday in order for it to be paid on the Monday

Don't know if Lloyds is one of them.

davethorp

dzug1 wrote: »

Even so with many banks the money has to be there last thing Friday in order for it to be paid on the Monday

Don't know if Lloyds is one of them.

Lloyds TSB accounts have a grace period. If a transaction takes you into the red or over an arranged overdraft limit you have until 15:30 on the day of the transaction to correct it to avoid any fees.

Natwest/RBS also behave in a similar way though I think the cut off time is slightly earlier with them (14:30 I believe)