Bank makes me overdrawn?!
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If there are 2 banks, let's call them Bank A and Bank B, and you want to cross fund them by standing order, so you set up a standing order on each account to pay out to the other on the same day...banks will make you overdrawn on purpose.
I had this 30 years ago, and it still persists.
If you pay in say, £1k on any day by SO and then have an SO for paying out £1k the same day, they will always take the SO out first, before putting your £1k in at midnight, therefore making you overdrawn .They never pay in, then take out at midnight, always the other way round.
Bank A sends a payment to Bank B.
Bank B sends a payment to Bank A.
Do you seriously expect both payments to be received before they were sent? Clearly it is not possible for Bank A to credit Bank B's payment before Bank B sent it.
Payments must be sent and then some time later they will be received. That results in debits appearing before credits.0 -
Yes I do expect it.If there are 2 banks, let's call them Bank A and Bank B, and you want to cross fund them by standing order, so you set up a standing order on each account to pay out to the other on the same day...
Bank A sends a payment to Bank B.
Bank B sends a payment to Bank A.
Do you seriously expect both payments to be received before they were sent? Clearly it is not possible for Bank A to credit Bank B's payment before Bank B sent it.
Payments must be sent and then some time later they will be received. That results in debits appearing before credits.
If I have £5k in Bank A and £5k in bank B, then send £1k from A>B, and B>A at the same time , there's enough funds to cover both transactions,without receiving either, but both transactions will be debited first ,before receiving, one does not depend on the other, so, there's no reason not to credit, B>A first,or vice versa.
How do you account for me paying into my account first,CASH, then withdrawing it after,Cash, YET, the money paid in was not added before I withdrew it at the hole in the wall, and being thrown in the red.?
As I had no overdraft facilities, I should have NOT been able to withdraw any at the wall, if it wasn't already in?
Hence the Refund.
Does paying in take longer than taking out?
I don't think so.
The System is loaded in their favour, and always will be.
Trust them at your peril.0 -
You are expecting the impossible. The transactions are not instantaneous. If both are sent at the exactly the same time, then in order for them to be credited before they are debited, then they must have travelled back in time.Yes I do expect it.
If I have £5k in Bank A and £5k in bank B, then send £1k from A>B, and B>A at the same time , there's enough funds to cover both transactions,without receiving either, but both transactions will be debited first ,before receiving, one does not depend on the other, so, there's no reason not to credit, B>A first,or vice versa.
Is it possible for you to receive an email or text message before it is sent? No? Then why would you expect to receive a bank transfer before it is sent?
Cash payments are processed offline. Try it with a faster payment and see what happens.How do you account for me paying into my account first,CASH, then withdrawing it after,Cash, YET, the money paid in was not added before I withdrew it at the hole in the wall, and being thrown in the red.?
Does paying in take longer than taking out?
I don't think so.
In any case, at most banks if you pay in cash before the bank's cut off time then the order of transactions is irrelevant.0 -
Yes I do expect it.
If I have £5k in Bank A and £5k in bank B, then send £1k from A>B, and B>A at the same time , there's enough funds to cover both transactions,without receiving either, but both transactions will be debited first ,before receiving, one does not depend on the other, so, there's no reason not to credit, B>A first,or vice versa.
How do you account for me paying into my account first,CASH, then withdrawing it after,Cash, YET, the money paid in was not added before I withdrew it at the hole in the wall, and being thrown in the red.?
As I had no overdraft facilities, I should have NOT been able to withdraw any at the wall, if it wasn't already in?
Hence the Refund.
Does paying in take longer than taking out?
I don't think so.
The System is loaded in their favour, and always will be.
Trust them at your peril.
How the hell can something arrive before departing? You are being ridiculous.0 -
improbable yes, impossible no,because one is not dependent on the other, there's funds to cover both sending transactions, without receiving any.You are expecting the impossible. The transactions are not instantaneous. If both are sent at the exactly the same time, then in order for them to be credited before they are debited, then they must have travelled back in time.
Is it possible for you to receive an email or text message before it is sent? No? Then why would you expect to receive a bank transfer before it is sent?
I wish I could travel back in time.knowing what I know now:)
banks are black holes anyway, money is always disappearing.:eek:0 -
improbable yes, impossible no,because one is not dependent on the other, there's funds to cover both sending transactions, without receiving any.
I wish I could travel back in time.knowing what I know now:)
banks are black holes anyway, money is always disappearing.:eek:
Bank A Standing order 1 - sent 12:00:01 - destination Bank B
Bank B Standing order 2 - sent 12:00:01 - destination Bank A
joe134 requirement: At each (or either) bank, standing orders are credited before standing orders are debited
Standing order from Bank B must be received at Bank A before 12:00:01
Standing order from Bank B must be received at Bank B before 12:00:01
Therefore both standing orders must have arrived prior to 12:00:01, which is earlier than the time that they were sent. Impossible.0 -
They are not dependent on each other, there's funds in both A/cs.Bank A Standing order 1 - sent 12:00:01 - destination Bank B
Bank B Standing order 2 - sent 12:00:01 - destination Bank A
joe134 requirement: At each (or either) bank, standing orders are credited before standing orders are debited
Standing order from Bank B must be received at Bank A before 12:00:01
Standing order from Bank B must be received at Bank B before 12:00:01
Therefore both standing orders must have arrived prior to 12:00:01, which is earlier than the time that they were sent. Impossible.
The receipt of both SO's are independent, of each other.
Bank A is NOT relying on receipt of bank B's money', before it returns it, it's already there.
It's elementary .0 -
Banks have never and will never credit funds to a customers account before they are received. As anoncol says, you are being ridiculous.They are not dependent on each other, there's funds in both A/cs.
The receipt of both SO's are independent, of each other.
Bank A is NOT relying on receipt of bank B's money', before it returns it, it's already there.
It's elementary .
Bank A certainly is relying on receipt of Bank B's money before it credits Bank B's standing order. It is not already there. I suggest you re-read the example above because it is clear that Bank A sends its standing order to Bank B without having received Bank B's standing order.0 -
If you want a train analogy, a train leaves from station A at 12:00:01 heading for station B. At the same time a train leaves from station B heading for station A.read the post properly, the funds are already there.
stand on a station sometime, they are seperate trains,
nowt so blind as those who won't see.
Should the train from station A that is heading for station B arrive at station B before or after 12:00:01?
Should the train from station B that is heading for station A arrive at station A before or after 12:00:01?0
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