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

born_again

km1500 said:

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

That is because they go via the faster payments system now 👍

General_Grant

born_again said:

km1500 said:

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

That is because they go via the faster payments system now 👍

I don't see how FP or BACS makes any difference to the initiation date for a payment.
Being by FP doesn't bring forward a payment specified as 19th June to 18th or earlier.

Bada_Bing_2

General_Grant said:

born_again said:

km1500 said:

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

That is because they go via the faster payments system now 👍

I don't see how FP or BACS makes any difference to the initiation date for a payment.
Being by FP doesn't bring forward a payment specified as 19th June to 18th or earlier.

Yes, this is precisely my point to Kroo. In a world of automation, I simply do not understand why the initiation date wouldn't be the initiation date.

This excludes the unwillingness of some banks to process anything on weekends and public holidays, but this should cause a delay and not pull it forward. Anyway, this isn't a factor in my complaint about Kroo.

Ballard

The only thing that comes to my mind on this subject is perhaps the standing orders have been input with an ‘arrive by’ date and have been processed as if they were/or actually by bacs, hence the few days difference. 

Simmet

Hi,

Was this ever resolved, and are the Standing Orders now leaving on the correct date?

There is a record of a similar complaint with Karoo, with the ombudsman.
The complainant was awarded damages, and Karoo told to make sure SO’s leave in line with payment date.

https://www.financial-ombudsman.org.uk/decision/DRN-5189700.pdf