What happens when a standing order gets returned

sweetintuition

Hi,

I've just had a standing order returned on my account due to insufficient funds...

Could someone tell me if the payment will automatically be put through again once there are sufficient funds in the account or will I have to manually pay this?

I do not want to make the manual payment if the S/O will just come out again.

It's the first time this has happened to me so I don't know what the normal procedure is.

My account is a Natwest Current Account

Thanks!

Buzby

No. It is a repeating period instruction. Your bank should not attempt to pay it until the next calendar date scheduled. With an SO, the bank tries to process your instruction. If it cannot, the payment fails.

if you pay your creditor conventionally the SO will pick up on the next date - providing you have the funds in place.

Bollotom

Phone the person who should have been paid and tell them what happened. Some companies will try again a few days later. As for manual payment I know Virgin Media (and Mobile) will still take the DD even if you make a manual payment. Only the person/company concerned can really answer your question. I think they may take a payment off you over the phone to keep the account squared away. :cool:

SuperHan

Bollotom wrote: »

Phone the person who should have been paid and tell them what happened. Some companies will try again a few days later. As for manual payment I know Virgin Media (and Mobile) will still take the DD even if you make a manual payment. Only the person/company concerned can really answer your question. I think they may take a payment off you over the phone to keep the account squared away. :cool:

The OP is talking about a standing order, not a direct debit. The companies don't try anything in these instances, the money is sent to them.

GingerFurball_2

Phone NatWest.

BoS and Lloyds re-try SOs for 28 days if there's a failed payment.

jonesMUFCforever

I agree with previous poster - I don't know what the situation is with Nat West but some other banks will try to make the payment for up to a month.
Problem you will have now is having to play catch up as next payment due will come around sooner than you think.
To avoid bank charges it might be better for you to cancel the standing order and set up a faster payment in your internet banking so that you can regain control.

agrinnall

I agree with jones, even if it's just a temporary measure - cancel the SO, pay the outstanding amount by FPS, do the same when the next payment comes due, and then think about setting up the SO again.