Lloyds & Standing Orders over Easter

bjones4

Hi,

Hi have various standing orders covering my rent and most of my bills, my rent is due to leave my account on the 29th of each month, and the rest of my bills on the 30th.

This month none of them have come out. They're all setup correctly and have worked in previous months, it states that they're next due date is "29 Mar 13" / "30 Mar 13" so to me at least it looks like they've just been ignored by the system or not processed.

Is this a delay relating to it being a holiday weekend? and if so when will these payments be taken? none of it is showing as having affected my available balance so none of it looks to be pending.

Thanks

The_pc_tech

They will come out on the next bank working day which will be Tuesday 2 April so relax

Biggles

The system recognises where months finish over a weekend and automatically sends SOs on the Friday in such cases.

It looks like they haven't been able to build in something that recognises bank holidays, especially something so crazy as our easter one; I imagine they will be paid tomorrow but it's not a great solution. I wonder if all banks have been caught out by it?

agrinnall

Biggles wrote: »

The system recognises where months finish over a weekend and automatically sends SOs on the Friday in such cases.

It looks like they haven't been able to build in something that recognises bank holidays, especially something so crazy as our easter one; I imagine they will be paid tomorrow but it's not a great solution. I wonder if all banks have been caught out by it?

What 'system' is this? All banks have their own systems for handling SOs, and not all operate in the way you say. DDs should work this way, but not necessarily SOs, which would normally be processed in the early hours of the business day after the SO due date when that date is not a business day (as happens at every weekend).

withabix

Biggles wrote: »

The system recognises where months finish over a weekend and automatically sends SOs on the Friday in such cases.

It looks like they haven't been able to build in something that recognises bank holidays, especially something so crazy as our easter one; I imagine they will be paid tomorrow but it's not a great solution. I wonder if all banks have been caught out by it?

That's nonsense. Standing Orders are not paid until the specified date or the next banking day, if the specified date is a weekend or bank holiday.

Every week finishes over a weekend, so what about those payments that aren't made at the end of the month eh?

a&akay

bjones4 wrote: »

Hi,


This month none of them have come out. They're all setup correctly and have worked in previous months, it states that they're next due date is "29 Mar 13" / "30 Mar 13" so to me at least it looks like they've just been ignored by the system or not processed.


Thanks

From the Faster Payments site

Standing Orders
A standing order is a regular payment that you set up to pay the same recipient, the same amount on regular dates.

• Available Monday to Friday, excluding bank holidays
• Same day payment Value limit of up to £100,000
• Standing orders sent via Faster Payments are received by the beneficiary on the day the payment is sent. It is not possible to guarantee exactly when the payment will reach the recipient’s account, although 90% of payments are sent by 6am.

Biggles

Biggles wrote: »

The system recognises where months finish over a weekend and automatically sends SOs on the Friday in such cases.

Clearly not, my mistake. Blowed if I know where I got that from.

Gets coat, sidles out of back door.