Very annoyed with Natwest

stclair

Shakin_Steve wrote: »

My son was due the latest instalment of his student loan on Monday and that appeared in his Barclays student account this morning. I think I read somewhere (unless I dreamt it) that all banks were stopping the money showing on a Saturday. But I could be wrong.....I often am.

Barclays will be changing in April 2018.

Shakin_Steve

stclair wrote: »

Barclays will be changing in April 2018.

Oh goody. I get my state pension in May and my payday will be Monday. No pensioner type splurges on a Saturday for me then.:D

sausage_time

I just logged into RBS (same group as NatWest) and saw an alert confirming that credits and direct debits due on Monday will show on Monday (not Saturday). Faster Payments will show as soon as they depart or arrive however.

(Corrected)

jonesMUFCforever

sausage_time wrote: »

I just logged into RBS (same group as NatWest) and saw an alert confirming that credits and direct debits due on Monday will not show on Monday (not Saturday). Faster Payments will show as soon as they depart or arrive however.

Did you mean to type WILL show on Monday (Not Saturday)??

sausage_time

jonesMUFCforever wrote: »

Did you mean to type WILL show on Monday (Not Saturday)??

Duh, yes. Corrected original post. Thanks for pointing out my error.

sheramber

bengal-stripe wrote: »

I'm afraid, that's wrong!

If your payment is due on a bank holiday, it will be due on the last working day prior. The DWP will place the instruction for payment earlier to be with your bank before the due day. On the due day the payment will simultaneously be credited to your account as well as debited from the sender.

Basically all payments will go into your account on the day they are due. It is the sender who determines the due day, not the bank.

In that case it won't be due on the Monday so will be due on the earlier day.

But if a payment is not due until the Monday it will not be available until the next working day.

from RBS

From 13 January 2018: Any regular payments due to be paid in to your account on a Monday (or next working day after a Bank Holiday) will only be available to you from the Monday (or next working day after a Bank Holiday) and not the Saturday as before. Just make sure there’s enough money in your account to cover you for any spending over the weekend.

Running_On_Empty

buglawton wrote: »

Don't worry, the money's being invested in hedge funds and derivatives over the weekend

Yes, to generate some money so that we can all enjoy free banking.

Tigsteroonie

debsy42 wrote: »

I'm with RBS who are part of the same group as Natwest and received a letter from them quite a while ago advising of this change about money not being available until the Monday instead of the Saturday. I'm lucky that it won't affect me too much but I bet a few people have been caught out with this.

Seems to have caught out quite a few in the disability groups I frequent on FB. I definitely remember NatWest informing me, cannot remember if it was a letter or a message when logging into online banking, but I was expecting this change.

Shakin_Steve

If I remember correctly, my mums pension payday is on a Monday. If a payday falls on a bank holiday, she gets two weeks money the week before.
But, as has been said, it’s the DWP that decides this, not the bank.

eskbanker

Tigsteroonie wrote: »

Seems to have caught out quite a few in the disability groups I frequent on FB. I definitely remember NatWest informing me, cannot remember if it was a letter or a message when logging into online banking, but I was expecting this change.

The subject came up in this thread on here from late October 2017: https://forums.moneysavingexpert.com/discussion/5734845

Granted that was RBS rather than NatWest but I have no doubt that the change in terms applies to both - I pointed out back then that I didn't think I'd received any notification from RBS and don't recall receiving anything since then, but was aware of many changes to banks' Ts & Cs applying from yesterday....