Kroo Bank - standing orders regularly collected early (excluding weekends and bank holidays)

Bada_Bing_2

I am in a dispute with Kroo. I have standing orders that are regularly being collected earlier than the date I have specified, excluding any justifiable consideration for weekends and bank holidays. For example, a standing order due to be paid on the Friday of a normal working week is being collected on a Wednesday. 

Kroo have completely missed the point of my complaint and talk about how it could take 3-5 working days to reach the recipient account. Obviously, this is completely irrelevant to my complaint. I am not complaining about how long it takes to make the payment.

I have asked Kroo to show where it is specified in our banking agreement that a standing order could be collected earlier than the date specified. As yet, I haven't had a response. I've tried looking on the web without any success for more information about banking regs for standing orders. Is this unpredictability something banking customers must accept, short of moving to a more reliable bank?

Thanks.

Ballard

I’m slightly confused with the terms that you’ve used. You say that this is a standing order which would be instructions that you’ve given to your bank to make a payment. You later mention ‘collected’ which would be a term more apt to direct debits. 

If this is a standing order then you have a justifiable complaint with Kroo. If, on the other hand, it’s a direct debit then your complaint should be directed at the originator (beneficiary) as it’s that party who starts the payment collection process. 

GrumpyDil

As above. Standing orders should leave the day you specify.

Direct debits are collected. We always collect ours on or after the due date and there is officially a three day collection window starting with the due date so no collecting early.

Where weekends and bank holidays are involved the collection date is adjusted backwards to take account of them. 

Bada_Bing_2

Thanks and apologies, poor use of language. Please ignore 'collected'. I'm referring to standing orders, not direct debits.

My interest is the extent to which Kroo are entitled to make these payments earlier than specified. I've asked them to show me in the banking agreement, which so far hasn't been forthcoming.

I'm curious about whether banking regs cover this, either in Kroo's favour or mine.

I'm considering a complaint to the Ombudsman. 

HillStreetBlues

Bada_Bing_2 said:

Thanks and apologies, poor use of language. Please ignore 'collected'. I'm referring to standing orders, not direct debits.

My interest is the extent to which Kroo are entitled to make these payments earlier than specified. I've asked them to show me in the banking agreement, which so far hasn't been forthcoming.

I'm curious about whether banking regs cover this, either in Kroo's favour or mine.

I'm considering a complaint to the Ombudsman. 

I would as well.
You gave the bank instructions and they have failed to follow them.

Shakin_Steve

And, as for the bit about it taking 3-5 days, the SOs I have set up always reach the recipient on the same day.

km1500

I am surprised to learn that a banks computer systems pay their standing orders on a date different to that specified

Vortigern

I use Kroo to pay standing orders on the 1st of each month to various regular savers. If they were paid early the recipient would send them back. This has never happened.

Bada_Bing_2

Vortigern said:

I use Kroo to pay standing orders on the 1st of each month to various regular savers. If they were paid early the recipient would send them back. This has never happened.

Same here. Some of my regular savers are the standing orders in question. However, they are regular savers where deposits from other banks are not permitted, so the early standing order just sits in the current account for the bank where I hold the regular saver.

boingy

I'd be furious at any bank that paid a standing order before the date I specified. It's fine to pay it a day or two late because of weekend and bank holidays.

overspender22

How they got a banking licence is beyond me. Mickey Mouse comes to mind.