will i get a charge

sddk1985

Hi

I wonder if any1 can advise me. I hv a car plan dd fone out today and stupidly I forgot to transfer the money for it. I've got up and logged into internet banking seen I hv gone over my overcoat limit and them transferred the money straight away. Cos it same day will the bank charge me ???

Thanks in advance

zebbeddee

Technically a bank cannot say you are overdrawn until it closes for the day, my boss had something similar happen to him and he disputed the fact that the bank should allow all incoming and outgoing transactions within the working day to take place and then if at close of business the account was still overdrawn then a charge could then be levied.
Not sure whether this works in all cases as I haven't gone overdrawn myself, If you do get charged and the charge would cause you finaicial hardship I believe there is also a process that you can go through with your bank to get the charge reversed.

shop-to-drop

sddk1985 wrote: »

Hi

I wonder if any1 can advise me. I hv a car plan dd fone out today and stupidly I forgot to transfer the money for it. I've got up and logged into internet banking seen I hv gone over my overcoat limit and them transferred the money straight away. Cos it same day will the bank charge me ???

Thanks in advance

How many overcoats is your are limit?;)

blueberrypie

zebbeddee wrote: »

Technically a bank cannot say you are overdrawn until it closes for the day,

Not true. Many banks require funds for all direct debits and standing orders to be in the account by the close of business on the day *before* they are due to be paid. OP needs to check the terms and conditions for his account.

meer53

You should call the bank to let them know you're paying money in to cover the direct debit. BUT, they may already have returned it.

vickynleon

it depends what bank your with i think, i'm with hsbc and they say that as long as the account has the money put in by the end of the day then you won't be charged for it.

david39

That's the same with LloydTSB - money in by close of business same day will not incur charges.

staceydaisy

im with hsbc sister company so hopefully its as long as funds are in by the end of the day.

would the charge show straight away does anyone know I hv never had a charge before

opinions4u

sddk1985 wrote: »

Hi

I wonder if any1 can advise me. I hv a car plan dd fone out today and stupidly I forgot to transfer the money for it. I've got up and logged into internet banking seen I hv gone over my overcoat limit and them transferred the money straight away. Cos it same day will the bank charge me ???

Thanks in advance

Could I suggest you avoid using text speak when posting on a forum.

Answer to your question: It depends on your bank's terms and conditions for the specific account you have.