Bank ignoring the extra day in Feb

debrag

So this is Nationwide.

Partners wage = last day of month
Rent share to me = last day of the month

Nationwide took the rent out on 28th Feb then returned it, my partner has now been charged for this, can he claim it back?

dzug1

He can ask to be refunded, yes, and will probably be successful.

Assuming this is a standing order due on the last day of the month

But in general it's not a good idea having money go out on the same day it comes in.

jalexa

debrag wrote: »

Rent share to me = last day of the month

Nationwide took the rent out on 28th Feb

Is that by direct debit or standing order. If direct debit how is the mandate worded? If standing order what date is it set up for?

As dzug suggests, does it make that much difference to you if the rent share payment/collection date was changed to the 1st of the month?

Mrs_Arcanum

If the payment is set for the last day of the month this would normally be 30th or 31st so obviously there is a variation allowed for in the payment out. Would seriously suggest you switch outgoings to 1st of the month avoiding all these issues.

Always worth asking in the branch for a refund. You can often get a better outcome face to face.

Ben8282

You say your partners salary is received on the last day of the month and you are paid (presumably by standing order) from the same account also on the last day of the month. Without having to spell it out, can anybody spot the very obvious problem with this arrangement assuming that the salary is used to pay the rent?

Gromitt

Ben8282 wrote: »

Without having to spell it out, can anybody spot the very obvious problem with this arrangement assuming that the salary is used to pay the rent?

Well yes, it's already been stated - make the payment for the 1st of the month instead, but thats besides the point and doesn't help the original poster.

Yes, he might be able to claim it back, but they may also point to some wording in the T&Cs that says they always treat February as 28 days or somesuch. Try it anyway. Nothing to lose.

jalexa

jalexa wrote: »

Is that by direct debit or standing order. If direct debit how is the mandate worded? If standing order what date is it set up for?

Bumping my questions

noh

It is not possible to setup a standing order with Nationwide for the "last day of the month".
You can only set up a standing order starting on a specific date and then subsequent payments taken monthly, quaterly, half yearly, or yearly.

What dates did you set up ?

Ben8282

Gromitt wrote: »

Well yes, it's already been stated - make the payment for the 1st of the month instead, but thats besides the point and doesn't help the original poster.

Yes, he might be able to claim it back, but they may also point to some wording in the T&Cs that says they always treat February as 28 days or somesuch. Try it anyway. Nothing to lose.

Well no, it hasn't already been stated so I will state it. Irrespective of which day of the month these transactions occur on, if the funds are received into the account on the same day as the standing order is paid out, the funds will arrive into the account AFTER the standing order is due to be paid. Think about it.

Ben8282

noh wrote: »

It is not possible to setup a standing order with Nationwide for the "last day of the month".
You can only set up a standing order starting on a specific date and then subsequent payments taken monthly, quaterly, half yearly, or yearly.

What dates did you set up ?

I was thinking the same thing. I don't bank with Nationwide but I have checked my own online banking and can see no 'last day of month' option for setting up a standing order.

debrag

Well his wages go in on the last day of the month and we haven't had a problem like this before.

The previous dates have been:

30 Jan 2012 | 28 Dec 2011 | 28 Nov 2011 | 28 Oct 2011 | 28 Sep 2011 | 30 Aug 2011 | 28 Jul 2011 | 28 Jun 2011 | 31 May 2011 | 28 Apr 2011

So it's not always on the same day but then it's not on the last day of the month either. I think he just didn't think about his new payday when he changed jobs stupid boy.