Standing order failed to go out

Quicksilver2121

I was after some help if possible about standing orders and where to go with a dilemma that I've been hit with.

Every month for the past year a standing order to our estate agents for our rent has been leaving our account without hiccup. However, after changing a standing order due to an increase to our rent we have had troubles.

We bank with HSBC and a standing order that was increased was meant to leave our bank account destined for our estate agents. I had a call from the estate agents a week after the due date to say that the money never arrived with them even though I made sure there was more than enough for our rent. This then incurred one of them drastic admin fees for £30 from our estate agents.

After checking with the bank we noticed that the money had never actually left the bank and was now less than what the rent due was. Isn't a standing order meant to go out the next working day if the day it was set up to leave the account was none existent or a bank holiday or something? This has caused us to recieve up to £90 in admin fees from our estate agent use to the full balance not being paid all because our bank never paid a standing order that was set up with them.

The reason the money went less than the rent was due to my fianc!e not realising that the extra money In the account was rent money and not money for her to enjoy herself with lol. The bank is denying it's their fault and our estate agents the same. Any help is much appreciated! So frustrating to see that 4 days after the rent due date there was actually enough money to pay it.

meer53

Are you saying your fiance spent some of the rent money causing the standing order to fail ?

If you are, what advice are you looking for ?

pelirocco

What do you mean the money went less then the rent due?

bengal-stripe

Quicksilver2121 wrote: »

Isn't a standing order meant to go out the next working day if the day it was set up to leave the account was none existent or a bank holiday or something?

A standing order will go out on the specified day (or in case of weekend/bank holiday the next working day) provided there are sufficient funds available.

As I take it, you account was short of funds, so the bank has every right to refuse to follow your instruction. You have nobody to blame but yourselves (the both of you).

Quicksilver2121

Sorry I wrote this a bit quickly, what I meant was that the rent due date was the 31st of November. This was a none existent day so I can't see why the bank hadn't paid the money the next working day. The money was just left in her account. On the 4th of December (rent was now 4 days late) my fianc!e went into town and spent some of that rent money making less money in the account than what the rent due was. This wouldn't have happened if the money was sent to our estate agents like the bank was supposed do.

Quicksilver2121

There was no reason why her bank couldn't pay this standing order on the 2nd of December or the 3rd of December. It was sat in her account doing nothing until the funds became less than the standing order on the 4th.

Buzby

A SO cannot 'be increased' - you have to cancel the original and replace it with a new instruction. It also requires at least 5 days to set up as it is processed by your bank alone (following your instructions). If it is too late for the first date, then it is paid the following month.

Neither the bank or Estate Agency are to blame - if the set up missed the planned date, you make an individual payment to cover until the SO commences.

A monthly SO will be advanced (not delayed) if the month doesn't have enough days.

Quicksilver2121

Ok thanks for the help on that one. I just wanted to clarify if It was our blame or if i could get these admin fees of our back before I went and made a fool of myself. If we are to blame then I will ensure we sort it. Thanks for the help.

Archi_Bald

Quicksilver2121 wrote: »

Isn't a standing order meant to go out the next working day if the day it was set up to leave the account was none existent or a bank holiday or something?

Banks usually require at least one working day's notice of any changes to SOs. When exactly did you change your SO, when was the SO due, when did you notice the SO had not been executed, what did you do when you noticed it?

Quicksilver2121 wrote: »

The reason the money went less than the rent was due to my fianc!e not realising that the extra money In the account was rent money and not money for her to enjoy herself with lol.

oops. seems you/your fiance spent more than you had available. Your fault, nobody else's, I'm afraid.

Quicksilver2121 wrote: »

So frustrating to see that 4 days after the rent due date there was actually enough money to pay it.

May be call your bank and explain you didn't know what the deadlines for changing SOs were / your fiance failed to check how much money was really available. They might waive the charges if this was your first 'offence' but they don't have to

pelirocco

Quicksilver2121 wrote: »

There was no reason why her bank couldn't pay this standing order on the 2nd of December or the 3rd of December. It was sat in her account doing nothing until the funds became less than the standing order on the 4th.

It would have been paid the first working day before if the date falls on a non banking day .were the funds in that day ?

jonesMUFCforever

Buzby wrote: »

A SO cannot 'be increased' - you have to cancel the original and replace it with a new instruction. It also requires at least 5 days to set up as it is processed by your bank alone (following your instructions). If it is too late for the first date, then it is paid the following month.

Neither the bank or Estate Agency are to blame - if the set up missed the planned date, you make an individual payment to cover until the SO commences.

A monthly SO will be advanced (not delayed) if the month doesn't have enough days.

Sorry but this is rubbish.
If a standing order is due to go out tomorrow you can amend it up to close of business today.
Standing orders now use the same payment method as faster payments.