Direct Debit dates moving

edl2011

I'm sure that most people as well as I like to have their direct debits come out at a certain time of the month to align with being paid.
However I have noticed that quite a number of my direct debits 'migrate' down the calendar over time. Every now and again the payees decide that they are going to bring forward the payment due date.
This plays havoc with my accounting, as the details I have stored in my spreadsheet become inaccurate and even when I update them, by a month or two later the payments are not even in the same order as my spreadsheet. Not only this but on several occasions this effect has resulted in DDs being taken from my account before my salary goes in, causing budgeting issues and stress.
In my opinion this stealth moving of payment dates is completely unacceptable. It is not reasonable to surprise people with a significant bill that will suddenly be due twice within the same pay period.
Why can we not have DDs that are always the same date each month? This would seem to be basic common sense.
I was wondering if other people had noticed this behaviour or if anyone can shed any light on reasons for this? Can Martin assist with any useful information or tips, or is this something that can be opened for discussion with the banks?

YorkshireBoy

I assume you're talking about credit cards, store cards, etc?...because mortgages, loans, etc are generally fixed.


These dates will always move, due to changes in statement dates caused by weekends, Bank Holidays, and other 'technical' issues.


You have 2 options really:


1. Cancel them and pay when it suits you, or better...


2. Shift your statement dates so the respective payment due dates fall mid-way between your monthly salary credits. That way, a small shift won't inconvenience you too much.


Of course, if you managed to build up a small buffer (like everyone should!), then these small date shifts wouldn't matter.

Gromitt

I'm not sure which DDs you mean, but typically most of mine occur on the same date every month, and those that alter the date slightly notify me 14 - 20 days in advance (apart from the 'manual' ones of course). I make sure however that my DDs are not close to the date I'm paid just in case problems occur. Typically I set them up to be about 2 weeks after I'm paid.

Date and frequency of payment is part of the DD guarantee, so did you agree to "various dates" ?

StuC75

Is there any scope to change the dates? my salary is paid on the 24th, with all my dd's coming out between the following 1st - 14th so theres never any risk of crossing...

Archi_Bald

Which ones of your DDs have been moving? Mine, for utilities, council tax, phones, broadband, credit cards all go out on the same day, or a couple of days later if the regular date falls on a weekend or bank holiday.

I know that Amex changed their policy and are taking their DDs a bit earlier than they used to. Do you mean them?

Buzby

No scope at all - your DD states they control the date and amount (originally, you could restrict either or both) but if you want control of your money, DD is not the route to take.

YorkshireBoy

Buzby wrote: »

No scope at all...

Of course there is! Gromitt and I have already suggested a resolution...namely shift the statement dates by a week or 2 so there is only ever one DD taken in a salary month.


There are only 12 statements, and hence 12 payment due dates, in a year(!), so timing them for mid-salary month guarantees (as far as is reasonably practicable) that there won't be 2 payments taken per salary month.

innovate

Also use that fabulous 'trick' of building up and keeping a buffer that protects you from slight variations in automatic debits, and/or an occasional extra expense, to send you into the red. With several current accounts now paying interest, there is little excuse for not holding a comfortable buffer in a current account. Spending every last penny of your income each month is a strategy / habit that is bound to fail sooner or later.