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Paying correct amount by DD
Comments
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They're banks. They will do anything to screw you over.0
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Mr_Singleton wrote: »Surely on the day the amount is due they should check the outstanding balance due and DD that amount rather than a figure that could be weeks out of date.
That won't happen. Payments are setup in advance and in normal circumstances you will find that you are unable to change a DD even a few days out from the due date. There is no way that the DD can be based on a 'real time' status of your account.
Even with manual payments you are warned that there will be a time lag in the amount being shown on your account. DDs are no different as there is a process.
The T's & C's for you particular provider will let you know how their particular payment system works.0 -
Thanks MEM62.... it’s not really an issue now that I know what’s happening but in the past the Direct Debit debit has reflected the amount owed rather than the statement balance. The bank confirmed that it had changed in October. Seems to me that it’ll create more work as people claim refunds.0
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