Natwest & direct debits

continualdiamond

Just a quick q. If i have direct debits due on Friday the 22nd and i get paid on the 22nd, then i have nothing to worry about do i?

OH is worried that direct debits might be processesed the day before. But they shouldn't be, right?

YorkshireBoy

continualdiamond wrote: »

Just a quick q. If i have direct debits due on Friday the 22nd and i get paid on the 22nd, then i have nothing to worry about do i?

It will depend on which bank you're with and/or whether you have an agreed overdraft (sufficiently large enough to cover the DD's) in place.

OH is worried that direct debits might be processesed the day before. But they shouldn't be, right?

They're not processed the day before. What OH may be confused with is the usual 'condition' that the money needs to be in the account by close of business the day before because DD's etc are usually processed in the small hours.

amandathepanda

With natwest, that is fine as long as your money goes in by bacs and isn't a cheque.

continualdiamond

Thats great, thanks. Yes my wage goes in by bacs.

kkpolobear

be every careful with netwest as my partner has an account with them and an dd was due out the same day as her money come in and they changed her £38 even though the money was in the account

chuckley

when i was with natwest years ago, i would've been charged, as they seemed to to want the money the day before so if it wasnt there they would charge the day the dd went out then bounce and so forth...

i dont know if they've changed since.

abbey wouldnt charge as long as u paid cash in to that value by the end of that day.

Willman_Rodders

I have had the occasional item returned by Nat West in similar circumstances to those other posters mentioned; my solution was to call the bank in the morning to advise the transfer had been effected to cover the DDs being presented - and they would pay my DD following my phone.


The good news is, I understand, that the account managers now have (wef 12 Feb 2008 or thereabouts) an updated auto system that identifies potential items to return in the morning - but then undertakes a second scan of the accounts around 2.00 p.m. the same day and adjusts for any transfers or cash only credits effected during the day or since 6.30 p.m. on in internet. (If you pay in cheques and cash this credit will not be added in until the end of the day.)

I was told this on Friday 15th Feb this week - so matters should improve for those of you who, like me, leave transfers until the last minute.

natweststaffmember

this is called the auto sweep facility which is because of faster payments. It means sweeps are made at 1:30pm, 2pm, and 2:30pm. However, there will already be accounts where difinitive answers will be made which are unchanged by the auto sweep. I think it is step accounts specifically that the normal terms and conditions will not benefit from it.