Direct Debit confusion

soshesays

Hello
hoping to clarify something before I call the bank ..

so I had a direct debits to go out on the 1st - being a bank holiday they came out on the 2nd leaving me £421.31 over drawn
Lloyds have a 2.30 pm cut off point at 1pm I paid in the amount I was overdrawn
came home checked the bank 11p in credit fab ..
:T

:eek: at 4pm it bounced the direct debit. yay £30 to the company and bank charges

I'm now the amount of the direct debit in credit
I have stared at my bank statement and I'm baffled. I didn't spend anything after paying in the money I chucked the cash in.

any ideas ?

meer53

Ring them ?

soshesays

well as I said that is my plan when I get a moment but I was pondering if anyone had ideas what the issue could be.

Thrugelmir

soshesays wrote: »

Lloyds have a 2.30 pm cut off point at 1pm I paid in the amount I was overdrawn
came home checked the bank 11p in credit fab ..
:T

Recommendation is to pay the money in at least 2 hours before the cut off time.

soshesays

ok.. why?
and to be honest what is the point of a cut off time if they disregard it?

EarthBoy

soshesays wrote: »

so I had a direct debits to go out on the 1st - being a bank holiday they came out on the 2nd leaving me £421.31 over drawn

If the direct debits left you overdrawn when they came out on 2nd, they would have still left you overdrawn if they'd come out on 1st. You could have paid the money into the account on 1st and avoided going overdrawn.

soshesays

no, I could not because the bank was closed on the 1st ( and 31st and 30th and 29th )
I had cash not a bank transfer.

colsten

soshesays wrote: »

no, I could not because the bank was closed on the 1st ( and 31st and 30th and 29th )
I had cash not a bank transfer.

So you would also have been overdrawn if the DD had come out, as originally scheduled, on the 1st?

Out of interest, which bank was closed on the 29th?

soshesays

Lloyds in a rural area is closed more often than not.
however, none of this is actually answering my question..
I went into town on the 29th to find it closed so, if it had not been a new year then no the cash would have been in before the direct debit on the 1st.
If, for some reason I couldn't have got in, then yes I'd have paid the cash in on the 1st.
I paid in the full amount and it registered as being 11p in credit.
I'm asking if anyone has any idea as to why it could be, not for a financial analysis nor a full work up of where I go and what I do.
a 2.30pm cut off means just that.




so yay thanks.
I'll just stick with the automatons at the bank they appear to make more sense

YorkshireBoy

How did you pay the cash in? Machine or branch counter?

TheShape

soshesays wrote: »

Hello
hoping to clarify something before I call the bank ..

so I had a direct debits to go out on the 1st - being a bank holiday they came out on the 2nd leaving me £421.31 over drawn
Lloyds have a 2.30 pm cut off point at 1pm I paid in the amount I was overdrawn
came home checked the bank 11p in credit fab ..
:T

:eek: at 4pm it bounced the direct debit. yay £30 to the company and bank charges

I'm now the amount of the direct debit in credit
I have stared at my bank statement and I'm baffled. I didn't spend anything after paying in the money I chucked the cash in.

any ideas ?

I'm wondering where the 11p went?

I'm wondering whether the cash paid in was 'available' by the cut off time.

OP, when you say you're the amount of the Direct Debit in credit, how much is that? Did all the Direct Debits bounce or only one?