Direct Debit Time

paragon909

Looking for some information to a query I have.

I'm looking to deposit money into my post officer online saver account using direct debit, If I was to submit the direct debit early Friday, 15th december, When would my TSB bank try and deduct the funds and when would it clear into the PO account.

Never really used this method, We grateful if someone could give me a timescale. If you've done it before and know.

[Deleted User]

Surely it would be a SO rather than a DD?

And if it's a Faster Payment, then usually within a matter of minutes

Kim_13

paragon909 wrote: »

Looking for some information to a query I have.

I'm looking to deposit money into my post officer online saver account using direct debit, If I was to submit the direct debit early Friday, 15th december, When would my TSB bank try and deduct the funds and when would it clear into the PO account.

Never really used this method, We grateful if someone could give me a timescale. If you've done it before and know.

The money would arrive at the Post Office and be debited from your TSB account on the date you select (though they start processing it before that so there will be a date after which you can no longer cancel or change the payment.)

A new mandate (if you haven't used your Post Office account to collect money by DD from TSB before) takes around 10 working days I believe. If you had an existing mandate then the minimum is about 3. The Post Office will tell you the earliest date you can select.

badger09

I wasn't sure what paragon909 was asking, but I think:o I know.

I was going to say you cannot time a DD as precisely as that.

It depends on whether you have already set up the DD.

This might help from PO end but I've no idea about when it would be deducted from your TSB account.

https://www.pofssavecredit.co.uk/POFS-NPS/contentHelp/frequently_asked_questions_websaver.html#3b