Notice required to end standing order

northerner77

If I have a regular monthly SO set up (say to go out on 29th of the month) and I intend to cancel it now online (the 14th) does that give them at my bank enough notice? Or will this month's SO get sent anyway and be the final payment? (It's not altogether clear on the bank's website....)

Or does it depend on the particular bank?

CKhalvashi

northerner77 wrote: »

If I have a regular monthly SO set up (say to go out on 29th of the month) and I intend to cancel it now online (the 14th) does that give them at my bank enough notice? Or will this month's SO get sent anyway and be the final payment? (It's not altogether clear on the bank's website....)

Or does it depend on the particular bank?

I've cancelled an SO with immediate effect with every bank I've banked with (and I've banked with Natwest, Lloyds, Barclays, Santander and most recently HSBC).

I'd give them a call (use the call from abroad number on your card as it'll be cheaper) to make sure it is done.

CK

gt94sss2

northerner77 wrote: »

If I have a regular monthly SO set up (say to go out on 29th of the month) and I intend to cancel it now online (the 14th) does that give them at my bank enough notice? Or will this month's SO get sent anyway and be the final payment? (It's not altogether clear on the bank's website....)

Or does it depend on the particular bank?

It depends on the individual bank but cancelling now for something due out at the end of the month is plenty of time.

Some banks ask you to do it 2/3 days before a payment is due to go out.

Personally, I always cancel them online so I can see them disappear from the list of standing orders (and depending on the bank they also show as 'cancelled')

Regards
Sunil

withabix

One FULL working day before the payment is due to go out will be enough, if you do it via online banking.

You can't expect to cancel one after banking hours (typically 3.30-4.00pm cut-off) on a Friday if the payment is due to go out on Monday, as you re already into the next bank working day (Monday).

agrinnall

As stated you have plenty of time before the end of the month. In my experience of SO processing systems the earliest that the transaction will start to go through would be 1 business day before it's due to go out. Any bank asking for longer than that to cancel one would be allowing time for manual actions to be taken, which isn't necessary if you are able to do it yourself online.