Direct Debit taken early?

Mikeyorks

natweststaffmember wrote: »

It is to do with the Bank Of England clearing accounts Monday to Friday excluding weekends

No, it is not. It is to do with the fact NatWest do not run their systems over the weekend. So their last Batch run before the DD is due ... is on the Friday night. So they 'reserve' the sum at that point, and journalise the DD transactions, as it is their only chance to tie it up.

Halifax are one of the few that (currently) run systems on 7 days. So they do not 'reserve' funds for DDs due out on the Monday ..... until the Batch they run on the Sunday night.

Academic to the OP ---- as she couldn't replace the money she intended to spend tonight, and avoid charges .... with either system. But it has nothing whatsoever to do with the BofE.

chuckley

well i thought with all DD's they have to be be taken the date specified or after, not before... having said that natwest would have charged u for not having the funds on monday and bounced it aswell, whereas i know abbey dont do that. they pay it and as long as u deposit the cashback into ur account the date it went out, your fine. thats why i LOVE ABBEY

Fedz

I'd say the NatWest has saved you a charge.

You could've had a linked savings account to replenish, if you'd spent the money tonight but, still if that was the case you could do it now as anytime.

See it as NatWests' attempt to create responsible banking behaviour

MRC_2

Thanks for all the responses!

I've had no letter from this contract to say when the Direct Debit was set up, or for how much. Luckily I had the money in the bank to pay for them, but Natwest have said if I call monday morning, I'll be able to reclaim the direct debits (At least they're doing something right!)

chuckley

MRC wrote: »

Thanks for all the responses!

I've had no letter from this contract to say when the Direct Debit was set up, or for how much. Luckily I had the money in the bank to pay for them, but Natwest have said if I call monday morning, I'll be able to reclaim the direct debits (At least they're doing something right!)

u need to go back to the company and complain. you should have received a letter confirming the set up of the D/D.

simongregson

There is no need to go to the company. You should be informed in advance of the amounts of all direct debits, this may be by email or by post, or on whatever contract you signed. As your mobile phone bill is variable, if you have not received a bill, contact your bank and ask them to refund the money and bank charges under the direct debit guarantee. You can then take steps to pay the company the correct amount via some other means. You might then ask them to produce a signed contract for the insurance they have added.

masonic

simongregson wrote: »

There is no need to go to the company. You should be informed in advance of the amounts of all direct debits, this may be by email or by post, or on whatever contract you signed. As your mobile phone bill is variable, if you have not received a bill, contact your bank and ask them to refund the money and bank charges under the direct debit guarantee. You can then take steps to pay the company the correct amount via some other means. You might then ask them to produce a signed contract for the insurance they have added.

It's an insurance contract, though. The amount will be fixed and agreed when the contract was taken out. The issue the OP has is that the contract should have been cancelled and wasn't. I don't think reclaiming this money under the direct debit guarantee will solve that problem.

chuckley

simongregson wrote: »

There is no need to go to the company. You should be informed in advance of the amounts of all direct debits, this may be by email or by post, or on whatever contract you signed. As your mobile phone bill is variable, if you have not received a bill, contact your bank and ask them to refund the money and bank charges under the direct debit guarantee. You can then take steps to pay the company the correct amount via some other means. You might then ask them to produce a signed contract for the insurance they have added.

of course u do, as their the ones calling the the bank for money. Their the ones with the contracts outlining the dates, frequency and the amounts and the ones who should have send OP this information...

jonesMUFCforever

chuckley wrote: »

of course u do, as their the ones calling the the bank for money. Their the ones with the contracts outlining the dates, frequency and the amounts and the ones who should have send OP this information...

What about those set up electronically online and some set up under AUDDIS.

It is possible to have a D/D set up without a signature.

The D/D guarantee still applies though.

masonic

ejones999 wrote: »

The D/D guarantee still applies though.

This is true, but can an institution retake a D/D payment if they can show they followed the correct procedure, or can you just recall any D/D you dispute?