Help!please :-)

shopaholic2

Hi, very strange thing happened today with the bank account.
Oh gets paid on the 20th of every month and we have direct debits gong out on 20th.
Never before has this happened, but although the wage went in today, it seems 3 dd's went out before it hit the account.
On the statement it shows then dd going out, then says ' correction' and it's put back.

This is a bank account without an overdraft and now I'm worried we will get bank charges and charges from the companies the dd's were for.
One was car insurance so I'm terrified that's been cancelled.

Where do we stand? Is this a simple little blip or something big for which we will get huge charges?
And is the car insurance still valid??!!!

Thanks for any help.

victoria797

If the direct debits have left the account now,you need not worry.

Most banks will be ok with paying the direct debit as long as you had enough money by the end of the banking hours that day.

innovate

You need to verify with your car insurance company whether your insurance is still valid, not with an internet forum.

Aside from that, you should talk to your bank about the DDs - - they will know what happened, and they will be able to advise you whether you will be left with any unpaid ones.

Having DDs going out on the same day as funds are going in is a high-risk strategy. It's much saver to leave at least 3 full working days (to allow for long weekends) between incoming funds and any payments, regular or irregular.

pmduk

innovate wrote: »

You need to verify with your car insurance company whether your insurance is still valid, not with an internet forum.

This is vitally important as there may be serious repercussions if you mnotor insurance has been affected. Better safe than sorry.

shopaholic2

Thanks all. I'm just off to the insurance place to sort this out.
The bank is nationwide, and they've actually bounced 3 direct debits, even tho the wage went in straight after.
Yes I see their point, no funds available etc, but where would we stand on begging and pleading them not to place a charge on each dd?

Thing is, it's not my account so I can't speak to them,oh will have to.
Just hope they're nice and realise its never happened before & will never happen again, as I'm going to change the dates.

dr_adidas01

<Quote>Thing is, it's not my account so I can't speak to them,oh will have to.
Just hope they're nice and realise its never happened before & will never happen again, as I'm going to change the dates. <Quote>

If its a first time offense and it hasn't happened before they usually if you get a good customer service rep refund the charges.

If its happened before then they usually won't, get the person whose account it is to give nationwide a call and see if they can stop or refund the charges.

Looby_-_Lou_2

This happened to me too.

Nationwide were very helpful - they as a one off either reduced or waived the fee (I can't remember which) and also advised that we move the DD dates.

It seems we had simply been lucky that they had previously always hit the account in the right order.

lauriepops

I work for a bank and the way our systems work is that if the DD is due out the same day as covering funds are paid in you need to give us a call (before 3.30pm) to ensure that the DD is marked as paid. The reason for this is that due to the volume of DDs being processed the system makes pay/no pay decisions throughout the day. It could be the case that previously this decision has been made after the funda have gone into the account.

I would suggest, as above, that the DD dates are moved or alternatively it could be the case that your OH contacts the bank on the day these are due out to ensure they are paid.

Don't know if all banks run the same with this but hope this helps

shopaholic2

Thanks all of you. I've changed the date of the car insurance, and they've said they'll try again anywayin a day or 2, so that's ok. There might be a £24 from them,, but she's going to see if it can be waived.
Ill get him to ring nationwide later, it's never happened before, and will never happen again as I'm changing the dates.

V grateful for all your help x

pmduk

lauriepops wrote: »

I work for a bank and the way our systems work is that if the DD is due out the same day as covering funds are paid in you need to give us a call (before 3.30pm) to ensure that the DD is marked as paid. The reason for this is that due to the volume of DDs being processed the system makes pay/no pay decisions throughout the day. It could be the case that previously this decision has been made after the funda have gone into the account.

I would suggest, as above, that the DD dates are moved or alternatively it could be the case that your OH contacts the bank on the day these are due out to ensure they are paid.

Don't know if all banks run the same with this but hope this helps

Sadly, this doesn't apply across the board. Some banks make a fortune out of this very scenario, requiring you to have the money in place at close of business on the. previous business day.