Direct Debit Dates

deserter153

I keep being stung at the end of the month by Direct Debits (I know, I know...) - some of them I've managed to change to 1st month so that they get paid first, but for others the companies won't shift them for reasons I don't understand ("can I pay you earlier? No"). Is there anything to stop me cancelling the direct debit and paying the sum manually on a date of my choosing, providing it's earlier than the agreed date?

flaneurs_lobster

Depends on your agreement with the payee. Some eg utilities make certain tariffs available only if paid by DD (or they give discounts to DD payers with the same effect). 

If you want to stop paying by DD then get the agreement of your supplier and let them stop DD requests. Doing the cancel yourself with the bank will trigger default payment processes and can get ugly.

eskbanker

deserter153 said:

I keep being stung at the end of the month by Direct Debits (I know, I know...) - some of them I've managed to change to 1st month so that they get paid first, but for others the companies won't shift them for reasons I don't understand ("can I pay you earlier? No").

Surely you'd be paying them later if you move from end of month to start of month, or were you planning to make an extra payment to cover that?

penners324

Who has refused?
All of our DDs are the 1st or pretty near. 

Rich1976

All all our Direct Debits with the exception of 2 or 3 come out around the 1st of the month and was no hassle asking the companies to change the dates.

the ones we cannot change were our personal pension contributions and a gym membership so these come out around mid month .

it depends on the organisation as some only have one fixed date for collections but most of our other ones we could pick the date we wanted.

deserter153

eskbanker said:

deserter153 said:

I keep being stung at the end of the month by Direct Debits (I know, I know...) - some of them I've managed to change to 1st month so that they get paid first, but for others the companies won't shift them for reasons I don't understand ("can I pay you earlier? No").

Surely you'd be paying them later if you move from end of month to start of month, or were you planning to make an extra payment to cover that?

So, if I pay now on 23rd of May, I'd change it to 1st May. I get paid monthly on the last date of the month so I don't really see that as an extra payment; it just comes out of my account earlier.

gsmh

So you use a banking app like MMEX and have your direct debits auto debit on 1st of the month, regardless of when they are actually debited in the month. The MMEX app is free. There really is no issue if you are prepared to put in a little time to keep it updated with your transactions as you make them. Too many people want the banks and companies to tai,lor their services to suit their individual circumstances. Savings pots are another example. Do it yourself.