Alliance and Leicester.....sneaky !

frugallass

Has anyone else noticed that the order of transactions can change from one day to the next to suit A&L.....for example, the following transactions take place on the same day:-

Tuesday's balance check

Opening Balance £0.00

Payment in of £50.00
Chq Payment out of £50.00 = No charges incurred

Closing Balance £0.00

Wednesday's balance check

Opening Balance £0.00

Chq Payment out of £50.00 = taken into the red incurring charges
Payment in of £50.00

Closing Balance £0.00

have they manipulated my account in order to get money from me or am I missing something here......?

Marc25

I think they are cr*p.
I'm sure there is some way they'd squirm out of it so they are not in the wrong.
i'd change to another bank tbh

WhoopieDoodle

This happens to us i.e., wage goes in, a couple of payments go out on the same day, account in credit.

I checked it today and a couple of payments show going out, then wage credited, so in overdraft!

I thought it was me going slightly mad!

PROLIANT

Time your DD'S and Standing Orders to go out the day after your wages go in, works for me and I have got 10 DD,S on my account with A&L never had any problems, best bank I have ever been with no regrets.

RayWolfe

What do the T&Cs say? Many banks require money to be in the account the day before a SO/DD payment.
If A&Ls terms are the same, an explanation of why they are sneaky would be appreciated.

noh

have they manipulated my account in order to get money from me or am I missing something here......?

The T+Cs say that money has to be in the account at the start of the day ie cleared the day before. They also state that the transactions don't have to be listed in any particular order. The order of transactions in a particular day is irrelevant as far as charges are concerned.
So as Ray Wolfe asks can you explain how they are sneaky when they have done exactly what they have stated in the T+Cs ?
If you haven't read them here they are:-
http://www.alliance-leicester.co.uk/currentaccounts/ec03964.pdf

Nigel

WhoopieDoodle

Thanks everyone for your help. We will change the DD dates for the day after pay day!

simongregson

They will reorder payments so credits follow debits. The reason they do this is to maximise charges. This is how A&L and the like offer market leading rates, they expect to make money on the fees.

Unfortunately there is not a lot you can do apart from take your business elsewhere, for example you would not be charged under HSBC or First Direct's 'fairer fees' policy.

RayWolfe

Read the forgoing posts then go and stand in the corner.
What is the matter with you? Banks are far from perfect and I have had my fair share of run-ins with them, but in this case you are talking rowlocks.

PROLIANT

simongregson wrote: »

They will reorder payments so credits follow debits. The reason they do this is to maximise charges. This is how A&L and the like offer market leading rates, they expect to make money on the fees.

Unfortunately there is not a lot you can do apart from take your business elsewhere, for example you would not be charged under HSBC or First Direct's 'fairer fees' policy.

Don’t be so silly, you should have cleared funds in your account BEFORE your debits are due out, so if you get paid on the 21st set your DD's to come out on the 22nd...simple if you time things too tight on the same day etc you are asking for trouble, if this is the way you choose to operate accounts get an overdraft, or suffer the charges, when are people going to take responsibility for there finances and lives and stop holding others to account when in fact it is those who are ultimately responsible!

mrsplinter

WhoopieDoodle wrote: »

This happens to us i.e., wage goes in, a couple of payments go out on the same day, account in credit.

I checked it today and a couple of payments show going out, then wage credited, so in overdraft!

I thought it was me going slightly mad!

A&L use a running balance on online statements which is affected by each credit and debit. Like all banks they apply debits before credits. For instance last payday having seen that i had been paid I moved a large sum to another account. However, when this transaction appeared on my online statement it came before my salary so according to the running balance I went overdrawn before my wages went in. I haven't been charged.

Regarding direct debits, I have never had any problems with a DD coming out the day of my wages. This is with Barclays and A&L. On past occasions I have been close to my overdraft limit the day before my salary been paid. A direct debit has gone out on payday when I was lacking the funds the previous working day, but because my salary has been credited that day I have never been charged. I guess a cheque or cash deposit made the day of a payment is treated differently.