Santander - Standing order query

HardSpend

Hey my query is if anyone has experience of setting up SO same day and finding out if it actually goes through that day or next day?

I created a new SO (to fund Lloyds saver) from my Santander account this afternoon 1pm.

When you create the SO online it asks you what day you want to make the regular payments, I selected 1st of each month.

It also asks what day you want them to start and gives you option of selecting today which I did, suspiciously!

I gave them a call to see if it would really go through today and was told maybe and if it didn't then it would go through 1st of next month instead since that was date I selected for ongoing payment. I want it to go ASAP and definitely this month, not wait to see what happens! Was told if I cancel and set it up again for say Friday (i.e. later in month) then I might get two payments taken off my account.

Westie983

Wait till tomorrow if it isn't taken then log into Santander and change the date to the 6th/7th, when it goes you can then change it to the 1st June.

Problem sorted,

I did this for the regular saver did a SO for £50 on the 4th then changed it for the 21st for £150 (as this is my payday) then it will go out on the 21st each month going forward, at the total amount.

You can change the SO date to wherever you want, it wont go out twice if you wait till tomorrow and act accordingly.

or you can change the SO now, it will tell you if it has been processed today or not as it wont let you cancel if a SO is due to be actioned.

HardSpend

Thanks for reply. I ended up going into the SO and amending the date from today to tomorrow.

I noticed on the summary page there is a 'Next Payment' date and this still showed 1st June.

So I changed date within SO to 5th of month and 'Next Payment' on summary now shows 5th May so it looks like I'm good to go. Just need to amend it again to the 1st like you said after the payment goes through.

In summary - you can't create SO with first payment date the same or next day. You can make first payment 2 (working) days after creation and amend once payment has gone through.

Westie983

You will be fine going forward, just change the date after the 6th.

Then you can forget about it, just makes sure the balance is covered before the 1st of the month, and remember that weekends don't count,

but looking at a calendar you don't have to worry about that till October 1st (the first date the 1st falls on a weekend)

eDicky

I opened a Santander eSaver account on April 1st and set up an SO for the maximum £200 from my 123 account to fund it, with the first payment that same day. The next day, seeing no transfer made, I called CS who advised me to amend the first payment date in order to be sure of getting some funds into the eSaver that month, so I changed it to the 6th.

When I checked on the 6th, sure enough, two payments had gone through, thus violating the terms of the eSaver.

It took a while for CS to get through to their savings account dept, for permission to revert one of the payments. It may be more difficult if there's a separate bank involved.

Westie983

I would have thought the second payment would have bounced back as you had already funded the Esaver account with £200?

Nebulous2

Westie983 wrote: »

I would have thought the second payment would have bounced back as you had already funded the Esaver account with £200?

Unfortunately not.

It allows you to overfund, but you are then in breach of the terms and conditions.

Nebulous2

HardSpend wrote: »

In summary - you can't create SO with first payment date the same or next day. You can make first payment 2 (working) days after creation and amend once payment has gone through.

You can make a payment on the same day, but it may depend on time of day. I set up a SO for a monthly payment about two weeks ahead and also set up one-off SO for the same day. I'm pretty sure that was in the morning though.

msallen

Nebulous2 wrote: »

You can make a payment on the same day, but it may depend on time of day. I set up a SO for a monthly payment about two weeks ahead and also set up one-off SO for the same day. I'm pretty sure that was in the morning though.

What on earth is a one-off SO? Do you just mean an FP?

Nebulous2

msallen wrote: »

What on earth is a one-off SO? Do you just mean an FP?

Do you have the new Santander regular saver?

It can only be funded by standing order. You cannot add money by faster payment. When setting up a Standing order there are options of how many payments to make. I cannot remember all the options but one of them is a one payment standing order.

Westie983

msallen wrote: »

What on earth is a one-off SO? Do you just mean an FP?

Its a standing order with only one payment date, start and end date the same or you put 1 in the payment box.