Bank who don't process Monday debits over weekend??

System

AFAIK all my current accounts allow you to pay in funds for the Direct Debit to 'try again' later in the day.

Never tried it personally.

Dobbibill wrote: »

Be careful if you choose to move to another bank.

Some give you the option of funding the account up until 3.30pm on the day but this is not always to honour the DD payment, merely to avoid charges.

PeacefulWaters

Heng_Leng wrote: »

AFAIK all my current accounts allow you to pay in funds for the Direct Debit to 'try again' later in the day.

Never tried it personally.

My many years in banking taught me that this tends to change from time to time, usually part of a general change to T&Cs.

LBG made a sneaky change to their text reminders service which ensured they now don't tell you that your direct debit had gone out and you are overdrawn until the following day - triggering fees / cancelling reward payments. They used to tell you first thing giving you several hours to rectify the situation without fees.

diamonds

PeacefulWaters wrote: »

My many years in banking taught me that this tends to change from time to time, usually part of a general change to T&Cs.

LBG made a sneaky change to their text reminders service which ensured they now don't tell you that your direct debit had gone out and you are overdrawn until the following day - triggering fees / cancelling reward payments. They used to tell you first thing giving you several hours to rectify the situation without fees.

Thanks PW, when was this ?

I set up this on my TSB the other day as my experience of setting up a friends years ago was as you stated, if I have set this up and expect the same service I will not be happy but that depends was it before or after the TSB sale to Sabadell that Lloyds changed its software coding and terms.



I have my balance reminders set up both ways for £2000, cant miss out on a penny 5% interest can I

Westie983

PeacefulWaters wrote: »

My many years in banking taught me that this tends to change from time to time, usually part of a general change to T&Cs.

LBG made a sneaky change to their text reminders service which ensured they now don't tell you that your direct debit had gone out and you are overdrawn until the following day - triggering fees / cancelling reward payments. They used to tell you first thing giving you several hours to rectify the situation without fees.

Not sure what LBG bank you are referring too but this is incorrect for Halifax.

With alerts, you can choose a date, and time slot, and you can also get an alert when you get to a low balance of your choice, (most people choose £50) so they know when they have gone into a overdraft.

The same can be for high alerts when you get a high value credit to your account.

Check out http://www.halifax.co.uk/aboutonline/things-you-can-do/text-alerts/ for examples and how to register

diamonds

Westie983 wrote: »

Not sure what LBG bank you are referring too but this is incorrect for Halifax.

With alerts, you can choose a date, and time slot, and you can also get an alert when you get to a low balance of your choice, (most people choose £50) so they know when they have gone into a overdraft.

The same can be for high alerts when you get a high value credit to your account.

Check out http://www.halifax.co.uk/aboutonline/things-you-can-do/text-alerts/ for examples and how to register

I did not see that on online banking, thought it not available on Reward.


Just registered low and high balances at £200, make sure the HTB ISA SO amount is always there.

pinkdalek

TartanSaver wrote: »

Can you clarify this with an example? If I transfer money by FP into an account on a Friday night or Saturday morning, the money isn't due to be credited, it IS in my bank account. Genuinely cannot think of the circumstances where this would apply. If your work is due to pay you on a Monday, the money is surely not available on Saturday with Clydesdale? I know each of the banks has slightly different times for when these things are handled, but hours at most, not days.

Yep no problem
When my salary is due on a Monday to be credited I can access it on the Saturday/Sunday before it is due. However my work colleagues who have their wages paid elsewhere are not able to do.
Same applies though with a direct debit, if it is due out on the Monday my balance over the weekend has been reduced, but this does not bother me as it is in an account that I use specifically for bills and not for anything else.

PeacefulWaters

Westie983 wrote: »

Not sure what LBG bank you are referring too but this is incorrect for Halifax.

With alerts, you can choose a date, and time slot, and you can also get an alert when you get to a low balance of your choice, (most people choose £50) so they know when they have gone into a overdraft.

The same can be for high alerts when you get a high value credit to your account.

Check out http://www.halifax.co.uk/aboutonline/things-you-can-do/text-alerts/ for examples and how to register

Specifically Halifax.

The direct debit doesn't get paid in the morning if it would take you into authorised overdraft.

No morning text warning you that your balance is low as a result.

Evening time the direct debit is paid. Taking you overdrawn.

Following morning the text message is issued. But you're already overdrawn, charged £1 and have forfeited your £5 reward payment.

Thanks for the link. I've been registered for years.

diamonds wrote: »

Thanks PW, when was this ?

I got caught out in December 2014. So at some point before then.

Westie983

DD are first paid around midnight on the day they are due, it is is always recommended that you have sufficient funds in your account the day before your DD are due, if the DD is refused you have till 3:30 the same day to credit your account and the DD will try again till this time then fail, and returned DD will show on your account and a letter sent.

The same case will be if the DD comes out at midnight and takes you into a authorised OD, the text will tell you that you are overdrawn (if set for morning texts) you then have till 3:30 to pay the money into get back into credit and thus no fees charges and loss of reward payment.

Alternatively if you have access to funds elsewhere you can replace funds/put funds into your Halifax account by FP anytime of the day or night and this would avoid a trip to a branch, and view your balance using the banking app.

diamonds

PeacefulWaters wrote: »

Specifically Halifax.

The direct debit doesn't get paid in the morning if it would take you into authorised overdraft.

No morning text warning you that your balance is low as a result.

Evening time the direct debit is paid. Taking you overdrawn.

Following morning the text message is issued. But you're already overdrawn, charged £1 and have forfeited your £5 reward payment.

Thanks for the link. I've been registered for years.

I got caught out in December 2014. So at some point before then.

Thanks PW, tsk tsk... thankfully all my accounts with DD have £1000+ or current accounts with minimum balance and DD amounts, but still manipulating a fail safe system brought in to safe guard customers and the bank from default at a later date to a revenue stream is a poor show!




Any Lloyds customers confirm the changes too ? Interesting to know..

PeacefulWaters

Westie983 wrote: »

DD are first paid around midnight on the day they are due

They are not paid if they would take your account overdrawn. Including authorised overdraft.

it is is always recommended that you have sufficient funds in your account the day before your DD are due

And that's all well and good. In the past they'd have paid it first thing, taken an account overdrawn, sent a text message and given the account holder all day to bring the account back into credit. They changed this at some point in 2014.

if the DD is refused you have till 3:30 the same day to credit your account and the DD will try again till this time then fail, and returned DD will show on your account and a letter sent.

Or they will now pay the direct debit, utilising your overdraft, but won't send a text message until the following morning.

The same case will be if the DD comes out at midnight and takes you into a authorised OD, the text will tell you that you are overdrawn (if set for morning texts) you then have till 3:30 to pay the money into get back into credit and thus no fees charges and loss of reward payment.

They won't take your account overdrawn with the first direct debit run.

Alternatively if you have access to funds elsewhere you can replace funds/put funds into your Halifax account by FP anytime of the day or night and this would avoid a trip to a branch, and view your balance using the banking app.

You don't say. Thanks for stating the bleeding obvious.