Can my bank do this?

strawberrychewits

My mortgage along with other monthly bills are due off on the 16th of the month, whenever this date fall on a saturday, sunday or monday the bank take it out my account on the friday. I can understand taking it if it falls on a weekend day but why do they do it when it falls on the monday and are they allowed? Its really annoying!:mad:

auntymabel

Probably best to post on the Budgeting and Bank Account Board:

http://forums.moneysavingexpert.com/forumdisplay.php?f=20

squeaky

Hiya

I'll move your query across for you.

Good luck

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Gromitt

A direct debit due on the Monday is sometimes 'reserved' on Friday night and paid on Monday, if thats how your paying.

Similarly, if you have an overdraft, you can sometimes go overdrawn Friday night, and it doesn't count until close of business on Monday.

MoneySaverNeil

No it doesn't count til close of business on Monday... but it stops you using your account for the whole weekend even if funds are due for deposit on Monday !

I actually had this over Easter, with NatWest account showing payments due Tues morning April 10th and yet showing on my account Thurs evening April 5th

To me this is unacceptable, as funds were due in Tues morn yet I couldn;t properly use the account for 5 days before ! (that's only one of a number of problem issues with my new natwest account... e.g. their Text alert service doesn't work properly... admitted by customer complaints dept)

gizmo111

If there were funds due in on Monday then they usually show up on Sat morning as well - so for Easter should have been there Thursday - its always been like this.
Did the funds get paid in Tuesday?

jen245

gizmo111 wrote: »

If there were funds due in on Monday then they usually show up on Sat morning as well

Indeed, but surprisingly, no-one seems to moan about that! :rotfl:

pinkdalek

gizmo111 wrote: »

If there were funds due in on Monday then they usually show up on Sat morning as well - so for Easter should have been there Thursday - its always been like this.
Did the funds get paid in Tuesday?

I know this happened to me in March, my pay was not due to Monday, however the bank let me access my money 2 days earlier before it was due to me - I mean this is totally unacceptable behaviour isn't it? How dare they allow access to MY money when it is not due, it's no wonder the whole banking crisis happened. :rotfl:

emmad5689

My husband is with Yorkshire bank and they block money on the friday night for a monday, I complained and they said that your money should always be in a day before the dd is due so even if we were due money on the monday then the money should be available on the sunday but as saturday and sunday are not working days it should be there on the friday so it didn't matter they could still block the money.

pinkdalek

Simple solution if you don't like it when the bank earmarks your money for a bill that is due to be paid.........

Cancel all your direct debits and standing orders. Then manually pay them yourself on the due date using your debit card or faster payment system. Or would this be much too inconvenient?

Or alternatively just have another account for bills only and if you've not enough money in there to pay a direct debit then you know the consequences and the money in your other account is free for you to use as you so wish.