Being paid the same day rent goes out?

Bloomberg

nikotime wrote: »

Hi all,
Just had a quick question about standing orders going out and rent coming in. My partner and I live together and the rent comes out of my bank account, with a standing order leaving my account for the full amount to the landlord. We've just moved and my partner gets paid on the 19th of every month, the same day as rent is due. Is it okay to set up a standing order from her account to mine on the 19th or is there a danger of her going into her overdraft and consequently being fined if the standing order goes out before her wages goes in?

Sorry if that doesn't make any sense/is a stupid question.

I doubt you will have a problem, back in my days of being employed I would arrange to have payments going out on the same day as I got paid. There was never a problem. That said the above might not work with all banks.



If push comes to shove you could always arrange an overdraft to cover the said amount. There would be no charge for going overdrawn for such a short period. Normally as long as you repay the money by the close of business that day there is no charge. All the best.

System

They don't charge if you are not overdrawn by the close of business.
Assuming wages go in the same day to cover, there won't be a charge.

Fishingtime wrote: »

You do with the Halifax
They charge you £1 a day for going into your overdraft