Bank Holidays - why does this affect your online account view

Jsscmm

Westie983 wrote: »

All my FP, SO are showing this weekend with tomorrows date, so I can still see all of the payments online, with the following banks

Halifax
Lloyds
TSB
FD
HSBC
Nationwide
Nawest

COOP is showing todays date, so BH doesn't matter here.

Payments due in are not showing yet, but some of my DD have gone out of Natwest with tomorrow's date so was taken on 1st.

I'd agree with the above list. Tesco are in the 'works in bank holiday' camp as well with SO being processed during yesterday.

roddydogs

A S/O with Santander due on the 1st, has only just been done, WHY in this day of automation, surely its all done by computer?

Feral_Moon

roddydogs wrote: »

A S/O with Santander due on the 1st, has only just been done, WHY in this day of automation, surely its all done by computer?

Same with TSB.

Feral_Moon

Kim_13 wrote: »

FP's can take until the end of the next business day to arrive as per the terms and conditions, so to guarantee the interest, you'd have needed to do it on Thursday.

My point is, the money arrived immediately and was showing as a balance available as usual with FP. But it is dated as though the transaction was made today (Tuesday 3rd May) instead of Saturday (30th April) when the transaction actually occurred!

As a result, it now appears that I didn't fulfill the £500 minimum deposit to get my 5% interest for April.

Ballard

Feral_Moon wrote: »

My point is, the money arrived immediately and was showing as a balance available as usual with FP. But it is dated as though the transaction was made today (Tuesday 3rd May) instead of Saturday (30th April) when the transaction actually occurred!

As a result, it now appears that I didn't fulfill the £500 minimum deposit to get my 5% interest for April.

That's unfortunate but it's a lesson learnt. Don't leave transfers until the last few days of the month.

SuperAllyB

Feral_Moon wrote: »

My point is, the money arrived immediately and was showing as a balance available as usual with FP. But it is dated as though the transaction was made today (Tuesday 3rd May) instead of Saturday (30th April) when the transaction actually occurred!

As a result, it now appears that I didn't fulfill the £500 minimum deposit to get my 5% interest for April.

If you phone them you may get this month's interest as a goodwill gesture. I complained that the t&cs weren't clear about monthly pay-in when month ends on a non-working day but neither they nor the FOS found in my favour, although FOS did agree that it could have been made clearer.

Ballard

roddydogs wrote: »

A S/O with Santander due on the 1st, has only just been done, WHY in this day of automation, surely its all done by computer?

That's an interesting question. The obvious answer is that their t&cs will show that it's next working day. Presuming that they're sent as FPs rather than BACS then there's no reason technically to delay.

I suppose that one answer is that the SO might put you overdrawn and if you needed to deposit cash to cover it you'd struggle. Do they overdraw you or bounce it? Another one is that if you were paying a utility, for example, they wouldn't expect it until the working day so people would complain that they'd lost interest for one or more days. You can't please all of the people all of the time so they've (presumably - I haven't looked) defined what they will do in these circumstances so that they don't get complaints.

Dobbibill

Feral_Moon wrote: »

Same here! All the DDs that were due out on 30th April (Saturday) have gone out but are dated as 3rd May, however, the SO due in the same day hasn't arrived yet.

Also, I made a FP into my TSB on Saturday but that is also showing as dated 3rd May which means I'll lose last month's interest payment now :mad:

Have another look at your TSB account - look at the transaction details rather than just the statement date, this would normally show as XXXX30APR so they can clearly see that you have paid it in on time.

Finger's crossed, you'll get your interest.

dreaming

skyranger wrote: »

So I transferred it out and combined with standing orders not showing as debited out due to bank holiday / weekend, its meant I've had to spend a couple of hours trying to work out where I am with my finances.?

I keep my own spread sheet which shows projected direct debits as well as card payments etc. so I always know where I am with my (limited) finances. It doesn't take me more than about 10 minutes once a week to reconcile the accounts (I have 4) and check what is due to come out over the next week, and maybe 30 minutes or so once a month when I transfer the cash around the accounts to fulfil account requirements (I prefer to do this via FP rather than standing order and have not had any problems with delays so far).
I like to be in control of my money (instead of the other way around) and definitely don't like surprises but as bank holiday dates are known in advance I just allow for those in calculations. My mantra is that I don't pay interest to banks - they pay me.

skyranger

Totally agree with dreaming as thats what I do.

What added to the issue was a HMRC rebate. Came in on the 27th.

As I had never had this before I presumed it was a BACS transfer rather than a cheque clearing.

So I transferred the money out into a different account but I was actually transferring my overdraft limit instead as it wasn't my money yet.

This meant a couple of standing orders didn't happen (nothing vital).

When I rang the bank - HSBC - their excuse was always check the available balance. However, when I stated if you ring the telephone banking or the mobile app, it only states balance. Only the website portal states available balance (what you actually can withdraw) and balance (what you can withdraw if all funds cleared).

Of course, I fully expect to pay HSBC interest now for going into my overdraft and will have to argue the point when that occurs next month.

I think my original point is that the banks can't have it both ways and the argument of "Well you should know the rules" doesn't really work when it is nigh on impossible to get answers from the sources because if that always happened then why would we need money saving expert forums?