DD taken already for 2nd April

bengal-stripe

stclair wrote: »

........if your due a credit on a Monday it will be available to withdraw on the Saturday dated for Monday.

Not many people complain about that!

pinkdalek

stclair wrote: »

It works both ways with credits if your due a credit on a Monday it will be available to withdraw on the Saturday dated for Monday.

Exactly, and you don't hear people moaning about that. Also why is it such a shock? You knew the payments would be due on Monday, it doesn't affect your available balance and as previous people have posted if you pay money in before 2.30 you won't get charged.

YorkshireBoy

pinkdalek wrote: »

...it doesn't affect your available balance

I assume that's a typo and you meant to say 'balance', because the earmarking/reserving/ring-fencing (whatever you call it) does affect the 'available balance', and the 'available balance' only...as has already been established.

dunstonh

Ever since online valuations started to become available on Saturdays around 20 years ago this has been the case. Saturday, Sunday and Monday are effectively one working day.

Banks process transactions in batches and these can appear anytime over the weekend but they are technically not debited (or credited) until the monday. Hence why they have Monday's date.

cleggie

Thanks for the advice.
Just to let you know that i received the text message this morning, and it says have to pay the funds in by 12pm.
Waiting for the bank to open as we speak!

stclair

cleggie wrote: »

Thanks for the advice.
Just to let you know that i received the text message this morning, and it says have to pay the funds in by 12pm.
Waiting for the bank to open as we speak!

I do not know why say 12.00 on the text/email as the time really is 14.30. I think it was to allow the 2 hours for faster payments etc.

GlamGirlie

DD agreements are 'on or around' X day of the month, precisely to allow for weekends/bank holidays etc.