HSBC Standing Order Amendments

kristina84

I bank with HSBC and wanted to change the date of a standing order I had set up, you can't do it online so I went into my nearest branch and filled out the form for them to change it, I just wondered if anyone knows how long this process will take as it needs changing before the 20th otherwise they will try to take the money out which will not be in the account then...
I went in to change this on Thursday 12th?
I'm rather worried it won't be done in time...

bengal-stripe

Set up a new standing order and cancel the existing one.

kristina84

Thanks but just realised I don't have the account details to set it up again (it was set up by the company) will have to just sit it out but if the bank attempt to charge for being unable to make the payment I will explain I went in branch to change it and wasn't told it wouldn't be done in time...

agrinnall

Can I speculate on what you're trying to achieve, as it's not very clear from your post?

You have a SO set up at HSBC to move money on a regular basis (I guess monthly) to another account - is that account also with HSBC or someone else?

There is a DD set up on the second account and the organisation that did that will try to take the money on the 20th.

Presumably the DD date has changed and therefore you need to make the SO happen earlier than it did previously - what date have you asked for the SO to take effect?

You requested HSBC to make the SO change on the 12th.

Is all of that correct or is some of it wrong?

Alteration of a SO date should be possible right up to the day before it goes out, or possibly even the same day. It really shouldn't take more than a couple of days for HSBC to make the change, so I would expect it to take place in good time for the transfer to be done by the 20th. If you have doubts though I would suggest you ring HSBC and ask them when it chould be complete.

bengal-stripe

kristina84 wrote: »

.....I don't have the account details to set it up again (it was set up by the company)...

So it must be a Direct Debit (DD), not a Standing Order (SO).

A Standing Order is an instruction to your bank to pay a particular amount on a recurring date to a certain bank account. You will find all the details (including account number and sort code) on your internet banking.

A Direct Debit gets set up and called-in by the payee. The amount and the payment date might vary.

mrmajika

Having had an HSBC account up until 6 months ago, I can confirm that Standing Orders can (or certainly could be) amended online.

I would imagine that they would not have changed this.

kristina84

This is where its confusing then, when I look on my account online it has SO next to the payment stating it is a standing order, however it was set up by the company and doesn't show the details of who it's going to other than the name and amount,

I can change the amount of the payment online but not the date...

kristina84

agrinnall wrote: »

Can I speculate on what you're trying to achieve, as it's not very clear from your post?

You have a SO set up at HSBC to move money on a regular basis (I guess monthly) to another account - is that account also with HSBC or someone else?

There is a DD set up on the second account and the organisation that did that will try to take the money on the 20th.

Presumably the DD date has changed and therefore you need to make the SO happen earlier than it did previously - what date have you asked for the SO to take effect?

You requested HSBC to make the SO change on the 12th.

It's not quite its simply a BACS payment will go in on the 23rd which when the SO was set up by the company (I still say it is a standing order as it says SO next to it online) was originally down for the 20th but the money won't be there then hence the need for change of date.
Thank you for your suggestions though

InsideInsurance

An SO cannot be set up by anyone other than the account holder.

A company can give you a convenient form for you to take to your bank with the details on it etc but it isn't like a DD where the company can liaise direct with the bank to set it up on your behalf once having your permission to do so.

Certainly it is something that can be done then and there over the telephone with HSBC so why not phone them and do it if you are concerned?

agrinnall

It definitely sounds like a DD, nobody other than you can set up a SO. If it is a DD then I doubt whether what you have done will make any difference, you can't change the date of a DD because you are not in control of when the transaction happens, only the company who set up the DD in the first place can change the date on which they take the money. You really need to contact them to see if they will change it, they don't have to but if the alternative is that it fails then they may well see the sense in agreeing.