Banking Weekend Woes

stclair

Keeping you up-to-date

It is important that you’re aware of your balance and how available funds are affected by overnight and real time transactions. The amount of funds you can withdraw at weekends and on bank holidays will take account of standing orders, Direct Debits, debit card transactions, forward dated payments and salary payments due on the next business day.

Please remember that some instructions for payments to be made from your account (including payments by cheque, Direct Debit and some standing orders) are processed during the night before the payment is due. To be sure that a payment can be made, you
should ensure that you have sufficient available funds in your account by close of business on the business day before the payment is due to be made. For example, if a Direct Debit is due to be paid on a Monday, you should make sure that you have sufficient available funds in your account by close of business on the Friday before. Please note that even on a weekday evening the amount available for withdrawal will be affected by payments due on the following day.

lolavix

Assuming you get paid by BACS, the credit will show on the Saturady as well, so I can't see where the problem is...

MonkeyMad

There is only a problem if the accounts runs with a low balance such that it can't cope with two or three days potential shift in payment date.

I personally don't understand the obsession with DDs coming out at the start of the month. I get paid month end and my DDs are spread all over the month. Since most of my DDs are fixed amount its easy to work out how much you are likely to be able to spread around on other things until next payday.

If the rest of the country also works on a 5-day banking week with these restrictions does it matter that you can access your account 24/7 from home?