Will my direct debit bounce

Hughes04

Hi All

I had a Direct Debit due to go out today (21st)when I got in from work, I went online to put money in my account so it was covered but at 1am my banking was showing it had gone out already but my balance was now over my overdraft limit! I quickly put money into that account to make sure it was back in credit, but I'm worried now that it won't have gone through. I didn't know they literally take it in the night, thought it would've been first thing in morning when they opened.

Do you think this will bounce now that I have enough money in? The loan is with Hitachi Credit.?

FtbDreaming

I think it will still go out. Mine usually do. They give me chance to put money in by 2pm i think it is.

Hughes04

Thanks. I really hope so. I'll be gutted to get charged by bank and loan company because they took it in the middle of the night.

bradders1983

Hughes04 wrote: »

Thanks. I really hope so. I'll be gutted to get charged by bank and loan company because they took it in the middle of the night.

When do you think Direct Debits usually go out, then? :rotfl:

PRAISETHESUN

The time DDs are taken will depend on your particular bank (you don't say which), but it's pretty standard to try in the early hours of the morning and then to retry mid-afternoon (~2-4pm) if there are insufficient funds at the first attempt. The option of going overdrawn is also at the bank's discretion, but paying in by the end of the same working day will usually avoid any overdraft fees resulting from your account going overdrawn. It's unlikely the payment will bounce if your bank let it go out in the first place so I wouldn't worry - you can always contact your loan provider to confirm they received your payment if you are worried though.

Ben8282

It would have helped if you had transferred this money before you went to work instead of waiting until you got home from work at around 3AM to do it.
Most direct debits go out shortly after midnight and unless this is your first and only direct debit you would surely knw this.

eskbanker

Hughes04 wrote: »

I didn't know they literally take it in the night, thought it would've been first thing in morning when they opened.

Surely you weren't under the impression that highly-automated computerised activities are in some way connected to the opening hours of branches?

reallydismayed

Ben8282 wrote: »

Most direct debits go out shortly after midnight and unless this is your first and only direct debit you would surely knw this.

How? Does your online banking show the time as well as the date of transactions?

Ben8282

reallydismayed wrote: »

How? Does your online banking show the time as well as the date of transactions?

I know what time they appear.

surreysaver

My direct debits tend to show the previous evening at about 22.00(although dated the following day). This is with Santander.

bradders1983

reallydismayed wrote: »

How? Does your online banking show the time as well as the date of transactions?

No, but anyone remotely on the ball with this kind of thing will know they go out overnight. Try logging on first thing in the morning when you wake up and you will see they have gone out already (assuming you had the money in there, obvs)