It's ALL going wrong...

cottonhead

I had a similar problem. My pay went into a severly overdrawn Natwest account by mistake. I phoned the bank to explain and said that it was an accident and I really need the money as I litteraly have nothing to even get by. They were ( surprised by this ! ) very helpful. They agreed to transfer the money back out to my savings account and then I withdrew it from there. I was so surprised as I was actually over my overdraft limit at the time but they were very accomodating. Its worth asking to see what they can do. I would however get back on the phone to HR again.

Happytogetdebtfree

who do you bank with ? can you do a faster payment transfer as soon as you are paid, who will automatically deduct payment from you ? failing online transfer draw some money out from over the counter

Rochdale_Guy

AAAAAAAAARGH!



Just got in, nightmare of a walk home on all this lethal deadly ice on the pavements, I suggest you Google 'rochdale church steps' to see whats just taken me 10 minutes to get down (that I usually bound up and down two steps at a time), along with loads of other people coming home from work, it's like an unseen ice rink :mad:

http://www.google.co.uk/search?q=rochdale+church+steps&hl=en&prmd=imvns&source=lnms&tbm=isch&ei=iQ00T__VEamp0QWFg8ysAg&sa=X&oi=mode_link&ct=mode&cd=2&ved=0CAwQ_AUoAQ&biw=1440&bih=775

Anyway, just got home and there was a "thank you for switching your account to us at The Co-Op Bank".

It says what I need to do:
Until we write to you to confirm your switch is complete:

• Please don't cancel any of my direct debits or close your account as this could delay transferring your payments to us.
• We recommend there is enough money in your previous account (there will be, my bl@@dy February wages :mad: ) to cover any regular payments.

So, I nervously phoned the CCCS who confirmed they have at least received my Debt Remedy Plan (which I sent Recorded Delivery yesterday), and the helpful guy listened to my 100mph cry down the phone and said I could do two things:

1. Cancel all the direct debits due to go out, then transfer all the money to the new account as soon as it gets paid in on the 15th - or -
2. Let the wage go in (as it'll be the last), then let all the direct debits come out I have existing for council tax, gas, electric, water, telephone etc (ESSENTIAL ones), then when they have all gone out, leave like a token £10 in the account but withdraw / transfer the rest to the Co-Op. I asked about the £198.99 overdraft which they will get as soon as the wage is paid in, and kinda got left with the impression well, if I draw out all my remaining money (bar a token £10), my balance will be £10, but as I still haven't told the bank about going into a DMP, I technically have £200 at my disposal via the £200 overdraft facility, so I'm thinking I can withdraw £198.99 and put that into the Co-Op account, and be back to square one, with no direct debits to come out the account, still have a -£198.99 overdraft with all the direct debits to credit cards and the car loan cancelled.

I need a lie down.

Only thing that worries me, and I explained it to the poor chap whose ear I was burning that I owe a lot on a RBS credit card and am scared ****less they will take my wage to pay towards the card debt. He couldn't really advice on that other to say they could do, but at least I've made a token payment to the RBS card and not told the bank yet. If that happens (if?!), apart from being totally suicidal, he said to contact CCCS and let them get in touch with them (RBS)...... if? :eek:

Isn't option 2 above the best bet? I told him that the Co-Op letter I had just receives says NOT to cancel any of the direct debits and he kinda just said its my choice. I don't want any of the payments to my other people not getting paid by direct debit either

I have a few more ominous looking envelopes to open (am dreading them), but really do need to log-out and lie down.

I'm sorry for being in such a state, I now 1,000s of other people are in the same (if not worse) boat than me, I'm just terrible when a cog breaks in the machine and causes any unsmooth motion

Bye

Unfortunately for you kind people, I will be back....

:undecided
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Rochdale_Guy

wecandothis wrote: »

I agree about the payroll, i've worked in wages for years and there is no reason something thats not going to be credited till next Wednesday cant be altered.

I do our payroll on a wednesday for crediting into accounts on a friday, so i doubt yours has even been done yet.

Not doubting you for one minute but RMBC blurb states: "We’re the borough’s biggest employer & including schools we have about 10,000 employees, delivering more than 800 different services to help improve life for local people."

.....yeah, just not for the people who work for them it appears

missrlr

Did you get receipt from fax machine ? If so take it with you and get head honcho in HR and explain in little words account no work master sort the paperwork, they can coordinate with accounts , might give you more clout.

Worst case
Get the money out by cash withdrawal bear in mind transfer will take a few days as it is a new account it is going to

tallyhoh

I can take £250 from my ATM but can then go into the branch & get more over the counter. Its worth a try, take extra ID

KiKi

OP, this must be sortable.

I would ignore Co-op's statement about DDs. Call them and tell them that due to some banking problems, they must not switch you - you'll do it yourself. They don't HAVE to go ahead with the switch; you can instruct them to stop it.

Call the companies who take DDs from you to tell them that you have cancelled the DD and that you will re-set it up on 16th as you're moving bank accounts.

Cancel all the DDs from your current bank.

At midnight on the day before you're due to be paid, call your bank / go online and transfer the whole amount immediately to the Co-op.

Set up the DDs the next day with the companies again.



When I moved bank accounts I changed all my DDs myself; I didn't let my new bank do it in case they screwed up. Cancelling online is easy - as long as you tell them you're going to do it, and keep them up to date as to when you will change it. They will probably want your new account details, but don't hand them over unless you know they're not going to take payment until after 15th (when you've transferred the cash).

KiKi

thehappybutterfly

Hi Rochdale

Your posts make me laugh! And not because I think the situation's funny, far from it, but you paint a pretty picture!

Anyway. I had major problems when I entered my PTD and my bank account was frozen. It took ages to set up my Co-op Cashminder account and in the meantime, my salary had gone in to my frozen account. The transaction was rejected and my employer was ruddy marvellous (not like yours...) - they gave me a personal cheque to take to their bank to get the cash. While all this was going on, I contacted all the companies I had DDs for and explained the situation, that my account was frozen but my new account wasn't set up. They were, mostly, all brilliant about it with the exception of Sky - "Can't you just make a payment now over the phone?" "Nooooo! I don't have a bank account!" Jeezy peeps! Well, the upshot was that I was to give them my new bank account details once it was set up and they'd send/set-up a new DD. Some of them, like the mortgage, I went in to the bank and made a cash payment.

Your new bank are only advising you not to cancel your DDs yet to make sure that you don't mistakenly get into a non-payment situation.

Good luck!

rubyjam

KiKi wrote: »

I would ignore Co-op's statement about DDs. Call them and tell them that due to some banking problems, they must not switch you - you'll do it yourself. They don't HAVE to go ahead with the switch; you can instruct them to stop it.

Call the companies who take DDs from you to tell them that you have cancelled the DD and that you will re-set it up on 16th as you're moving bank accounts.

Cancel all the DDs from your current bank.

At midnight on the day before you're due to be paid, call your bank / go online and transfer the whole amount immediately to the Co-op.

Set up the DDs the next day with the companies again.



When I moved bank accounts I changed all my DDs myself; I didn't let my new bank do it in case they screwed up. Cancelling online is easy - as long as you tell them you're going to do it, and keep them up to date as to when you will change it. They will probably want your new account details, but don't hand them over unless you know they're not going to take payment until after 15th (when you've transferred the cash).

KiKi

Rochdale Guy - same advice as KiKi.

Please do try to calm down and stop panicing about stuff that hasn't happened yet. I really, really do know what you are going through but please ... do as KiKi suggests and you might just pull it off.

Make sure you are registered for online banking with both banks and the minute your wages go into your old bank account transfer the lot including overdraft to the new one. Stay up all night if needs be - wages don't always hit your bank account on the stroke of midnight. I know this - I've done it my self and waited up till 3.30am! Check your new account too - you never know your employer might have got it right!

It is unlikely RBS will take money from your account at this early stage. They are not so quick off the mark!

Re the Co-op's letter. Ignore it. Don't rely on anyone but yourself - cancel and set up direct debits yourself. It's less likely to go wrong that way. Don't worry about DD's not getting being paid - you can always pay over the phone when you ring to tell them your new bank details.

Get your employer to confirm your new bank details back to you, so that next month won't be quite as stressful!

And good luck - you CAN do this

rdchick

Yep with Ruby on this, you CAN do this, yes it's edge of your pants stuff but you can and a couple of months down the line when you're fully on the DMP, the phone stops ringing and the letters stop too you will find your feet and realise how strong you really are.

Think back to the first time we spoke, you have come a LONG way since then (don't say you haven't because you have) and yes it's ruddy hard now but it will soon all slot into place.

They can't take what you don't have and you're now in control of your finances, you have a plan and if you stick to it, it will be fine

big hugs xxx