Help Co-op and going overdrawn?

Hiddenidenity

I know I have a payment going out my Co-op Cashminder tomorrow, now I have the money on me not in the bank. So my question is do you get until a certain time to get the money in to cover the payment? Or will I be charged?

I know with Llyods its 3.30 so just wondering if Coop do a similar thing?

YorkshireBoy

You may be charged, according to...

http://www.co-operativebank.co.uk/cfscombi/pdf/Cashminder_Account_Charges_120609.pdf

...but not if this is your first offence in the last year.

Your money needed to be there by 9.30pm last Friday...

http://www.co-operativebank.co.uk/cfscombi/pdf/cashminder_terms_and_conditionsjan2012.pdf (condition 8.1 2nd bullet)

stclair

I do not think the co op charge you if its under a tenner...

Hiddenidenity

Its a card payment not a direct debit or standing order?

which is what confused me there doesnt seem to be a mention of it on the charges list?

YorkshireBoy

Hiddenidenity wrote: »

Its a card payment not a direct debit or standing order?

which is what confused me there doesnt seem to be a mention of it on the charges list?

Although not giving details of any charges, they do cover the 'outcome' of card misuse in condition 10.11


EDIT: Do they still operate their '3 strikes and you're out' policy on this account?

Hiddenidenity

YorkshireBoy wrote: »

Although not giving details of any charges, they do cover the 'outcome' of card misuse in condition 10.11


EDIT: Do they still operate their '3 strikes and you're out' policy on this account?

Sorry what do you mean?

YorkshireBoy

Hiddenidenity wrote: »

Sorry what do you mean?

If they bounced 3 DDs and/or SOs they used to close your account.

I can't find (from a quick T&C search) if they still do that, but condition 10.14 says they may suspend your use of the card for repeated abuse.

Re getting charged, you'll have to hope they pay the item because condition 13.1 says they won't charge a fee in such circumstances (but will for an unpaid item)...but condition 13.2 places a duty on you to immediately credit funds (which it sounds like you'll be doing tomorrow).

Hiddenidenity

YorkshireBoy wrote: »

If they bounced 3 DDs and/or SOs they used to close your account.

I can't find (from a quick T&C search) if they still do that, but condition 10.14 says they may suspend your use of the card for repeated abuse.

Re getting charged, you'll have to hope they pay the item because condition 13.1 says they won't charge a fee in such circumstances (but will for an unpaid item)...but condition 13.2 places a duty on you to immediately credit funds (which it sounds like you'll be doing tomorrow).

Thank you its my fault I didnt realise the balance on internet banking isnt updated when you use your card online/chip and pin

Thanks again