first direct Direct Debit warning

pimento

Back when I was an idiot, I banked with Smile. I used to get paid on the 15th of the month and my mortgage would come out on the 15th. Smile used to take the mortgage out first, then apply my salary (in that order) meaning I went overdrawn every payday even though both credit and debit happened at 00.01 on the 15th.

To my shame, it took me a few months to work out why I was being charged £25 a month and when I did, I called Smile who pointed me at their T&C's.

I called my mortgage company, had them change the day to the 16th and then moved my account to First Direct.

I know that FD do the same thing but I thought the ethical Co-Op would have tipped me the wink.

roddycam

To close this thread (hopefully), I can tell you I was phoned by a very nice lady from first direct who said that as a gesture of goodwill they would refund the charge. She explained the returns policy fully and clearly, and obviously I will not be making the same mistake again.

And I will think twice before I post on this forum again, thanks to the knowalls who have to stick their oar in, no matter how unhelpful.

opinions4u

roddycam wrote: »

Thank you for taking the time to repeat what I said in the first place.

You really are quite rude. The post to which you responded to in this manner clarified the facts and advised you, pleasantly, how to get your fee back.

To close this thread (hopefully), I can tell you I was phoned by a very nice lady from first direct who said that as a gesture of goodwill they would refund the charge. She explained the returns policy fully and clearly, and obviously I will not be making the same mistake again.

Advice which you appear to have followed.

And I will think twice before I post on this forum again, thanks to the knowalls who have to stick their oar in, no matter how unhelpful.

The best way for others to avoid making the mistake you made is to spend five minutes reading terms and conditions. Different banks do things in different ways. It's unwise to assume that what one bank does will be the same as another.

Chrisblue1962

pimento wrote: »

Back when I was an idiot, I banked with Smile. I used to get paid on the 15th of the month and my mortgage would come out on the 15th. Smile used to take the mortgage out first, then apply my salary (in that order) meaning I went overdrawn every payday even though both credit and debit happened at 00.01 on the 15th.

To my shame, it took me a few months to work out why I was being charged £25 a month and when I did, I called Smile who pointed me at their T&C's.

I called my mortgage company, had them change the day to the 16th and then moved my account to First Direct.

I know that FD do the same thing but I thought the ethical Co-Op would have tipped me the wink.

I thanked you for your post not so much for the information but for the good signature and your cute cat picture

Gromitt

opinions4u wrote: »

The best way for others to avoid making the mistake you made is to spend five minutes reading terms and conditions. Different banks do things in different ways. It's unwise to assume that what one bank does will be the same as another.

Common sense to a lot of people, but realistically, how many people ever read terms and conditions ? From this forum, I would say most go "yeah yeah yeah" and sign or click without knowing what they are actually consenting to (normally with the excuse "I don't have time to read all that crap"). For all they know, the terms could include a clause allowing the bank to strip search you on entry and exit of any branch. Unlikely, but possible. It seems people prefer to just b**** and moan when it all goes wrong and something bad happens.

roddycam

Another know-all. Even if you read T&Cs (which I do), you can't remember every detail, unless you have too much time on your hands, which from this forum I guess a lot of people do.

And first direct admitted I had not been apprised of the returns policy.

Gromitt

No, you don't need to know every detail, but important details like the fact that funds for a direct debit should be available by the end of the previous working day I do remember.

And then of course if you do make a mistake (we all do), there is a £250 interest free buffer.

opinions4u

roddycam wrote: »

Another know-all. Even if you read T&Cs (which I do), you can't remember every detail, unless you have too much time on your hands, which from this forum I guess a lot of people do.

And first direct admitted I had not been apprised of the returns policy.

If I'm going to manage my finances in a way that means I'm going to fund an account the same day a payment is due, I make damned sure I know whether it will work or not in advance. You can usually find the detail you need within seconds of opening a T&C document.

If you don't want to learn from your mistake, that's your problem.

But the T&Cs are the rules you agree to when you open an account. Don't be surprised when any company applies them to you personally. It's how things work.

JimmyTheWig

opinions4u wrote: »

If I'm going to manage my finances in a way that means I'm going to fund an account the same day a payment is due, I make damned sure I know whether it will work or not in advance.

But in this instance where the OP has only had accounts where they have been able to do this with no problem, why would they think to "make damned sure" that it was possible? To them, that's just how it works.
Yes, they should have read all the terms and conditions. But many, many people don't for many, many things.

How are we supposed to know which of the things that we take for granted are universal and which are just specific to us?

opinions4u

JimmyTheWig wrote: »

But in this instance where the OP has only had accounts where they have been able to do this with no problem, why would they think to "make damned sure" that it was possible? To them, that's just how it works.
Yes, they should have read all the terms and conditions. But many, many people don't for many, many things.

How are we supposed to know which of the things that we take for granted are universal and which are just specific to us?

I'm off to France in a week or two. I've never driven overseas before. I'll stick to the left.