A & L DDebit paid 4 days in advance??

MarkyMarkD

Advantix One or two banks do things the way you describe, but most banks operate as robertjonesuk says and require the funds to be in the account by close of the previous working day.

For banks to operate as yours does, they need to [STRIKE]pay DDs in the morning on the supposition that the funds will come in. If the funds don't arrive, then you've made a payment in breach of your overdraft limit/credit balance/whatever[/STRIKE] undertake a second direct debit run at the end of the day for payments which can't be paid during the normal overnight direct debit run. I can see why most banks don't bother.

YorkshireBoy

MarkyMarkD wrote: »

For banks to operate as yours does, they need to pay DDs in the morning on the supposition that the funds will come in. If the funds don't arrive, then you've made a payment in breach of your overdraft limit/credit balance/whatever.

If you think about it, you could action a DD collect of some £25K or more from an external savings account. No bank will release that amount of money on "supposition" that funds will be paid in.

I seem to remember (with these providers, which, as you say, are in the minority) that if insufficient funds are in the account in the wee small hours, the DD's are simply not processed.

What happens then is a further attempt is made late afternoon, and if the funds are there then, all well and good...if not, the payment is refused and charges are applied.