More Bizarre accounting from Nat West

cepheus

You know how debits to be taken several days in advance of a bank holiday (6th June in this case) are shown on the summary statement but not on you main statement? Well here is a new one.

A credit to be entered on the same day (6th June) isn't shown on either of these, but is still accounted for in the balance! However the debits are. In other words the credits/debits don't tally with the balance at all, and the logic of advance changes is inconsistent! You need to know what is due in to make sense of it!

I hope the auditors can understand their corporate accounts better than this!

MoneySaverLog

The weekends and bank holidays do not exist as far as NatWest is concerned. Worked that one out a while back.

loony2012

Well i don't quite get what you say isn't shown as due in. Or maybe i read wrong.

Here is my bank though,

Capone and another card due out wednesday, water bill and a fine due out same day, all took today and a £180 payment in on 6th came in today with where it came from.

MoneySaverLog

Today I sent a FP from NatWest to LTSB. Arrives and shows up as cleared on LTSB but with a deposit date of the 6th June.

Shows as debiting my NW account on the summary page, though balance on the statement screen does not show up and wont until Wednesday.

It's an enigma.

noizeuk

MON-FRI = Normal working days
SAT-SUN-Bank Holidays = Mondays entries (or next working)

Faster Payments will fit within the Payment Service Directive timeframes of a) instant dependant on beneficiary sort code or b) 2 hours.

Any debits due on Sat, Sun, Mon and in this case Tue will all debit on the next working date after the last working day.

Unsure about the Standing Order situation as it has recently changed in line with the Faster Payments/PSD deal but treat it as debit exclusively on the next working day basis and give notice (or make alternative payments).