Sunday is working day for Bank

TechGuy_3

Isn't it strange how my bank takes out money on a Sunday, but will not count Sunday as a working day when it comes to clearing a cheque. I am with the Halifax, and below is my online statement from yesterday:

24 Apr 2005 Standing Order - 150.00
Standing Order - 1,170.00

This is from my online bank statement the Halifax. Sunday is a day that is not counted for clearing, yet money is taken out on that day as you can see. Seems that the banks can use part of their operation on none working days, but when it comes to paying in, or counting days to clear, non working days don't count!

JanCee

If you check your balance at the weekend the items that have been processed on Saturday and Sunday will show, but they are not actually debited until the next working day, which will be Monday unless there is a bank holiday.

Walletwatch

TechGuy wrote:

Isn't it strange how my bank takes out money on a Sunday, but will not count Sunday as a working day when it comes to clearing a cheque. I am with the Halifax, and below is my online statement from yesterday:

24 Apr 2005 Standing Order - 150.00
Standing Order - 1,170.00

This is from my online bank statement the Halifax. Sunday is a day that is not counted for clearing, yet money is taken out on that day as you can see. Seems that the banks can use part of their operation on none working days, but when it comes to paying in, or counting days to clear, non working days don't count!

You cannot go by the date-stamp on your statement and conclude that it was actually carried out on that physical date. Typically, transactions are carried out in banks as part of the end of day batch, till the next working day (exclusive). For e.g. on a Friday, the batch would process all transactions till the Sunday, as a result of which it would appear by looking at your statement as if it was actually done on the Sunday, while it was actually done as part of the Friday end of day batch process.

This is the industry practice, and there's not much that banks can do about it, since the clearing agencies and other settlement parties would not be working weekends anyway, and hence would not include these holidays as part of the settlement cycle.

JonSimmonds

i had a similar thing, I get paid on the 25'th of each month, in April the 25th was a monday, yet on saturday(the 23'rd) geting a ministatement from the bank had my pay showiing on my account, but dated the 25'th guess it works both ways

aris

Count yourself lucky that you have FREE banking. In most other countries you get charged for everything you do at the bank.

jimmyjim_uk

Halifax will take standing orders on the date specified even if it falls on weekend. Direct debits are different they will only be taken on bank working days. This is in there terms and conditions.