Alliance and Leicester.....sneaky !

MarkyMarkD

As mrsplinter says, there is not a problem with DDs going out on the day of wages going in.

As I've posted before, it would appear that the order of transaction processing is:

- BACS credits inwards
- DDs and SOs outwards
- cheques outwards

all of the above happening overnight

- all other transactions in real time.

If you comply with the Ts & Cs, which are the same as 90% of other banks, and have cleared funds in the account by close of business the day before a transaction takes place, then everything will be fine.

In fact, you can make online account transfers (from linked accounts only) on non-banking days (i.e. the Sunday before a DD is due out on the Monday) as they immediately credit your available balance, but I wouldn't encourage people to try this and then blame me!

Many banks don't show intra-day balances on statements, precisely because the order of transactions on the day is pretty irrelevant. A&L do show intra-day balances, because (I suppose) it's easier for them to do so than not to do so, and it also makes things easier to follow as a customer in most circumstances.

But the fact remains that the order of transactions on a day is irrelevant and stuff about A&L moving transactions around to increase charges is completely rubbish. In the examples quoted, the transactions would have triggered charges in any case because the funds weren't there the day before, as required.

I'd appreciate frugallass telling us what sort of "payment in" was involved. I'm guessing it wasn't a BACS credit, but something transferred/deposited on the day (i.e. too late).

trudiha

I checked this with A&L yesterday and, as mrsplinter said, it's they said that it's common practice for debits to be shown before credits in all bookkeeping ledgers. They also confirmed that they do not charge an overdraft fee when this happens.

greatsite_2

I had this happen last month so had minus balance and they did not charge me

simongregson

PROLIANT wrote: »

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!

Please take some pills or something to calm down! The OP has asked why they got charged. This is because their payments for the day are re-ordered by A&L so that credits are shown after debits.

The reason to do this is obviously to maximise the penalty charges they can levy.

I have provided them with a solution to this problem, namely to change banks to one which does not operate this policy. Moving direct debit dates would also solve the problem, but that is not what the original poster was asking about.

Please do not assume that because I have offered this advice I run my own finances this way. At no point have I said that A&L should not be making these charges, it is their business how they run their current accounts, but equally if the OP does not like it making an informed decision about who to bank with is taking responsibility. So take your rant elsewhere.

noh

simongregson wrote: »

Please take some pills or something to calm down! The OP has asked why they got charged. This is because their payments for the day are re-ordered by A&L so that credits are shown after debits.

The reason to do this is obviously to maximise the penalty charges they can levy.

I have provided them with a solution to this problem, namely to change banks to one which does not operate this policy. Moving direct debit dates would also solve the problem, but that is not what the original poster was asking about.

Please do not assume that because I have offered this advice I run my own finances this way. At no point have I said that A&L should not be making these charges, it is their business how they run their current accounts, but equally if the OP does not like it making an informed decision about who to bank with is taking responsibility. So take your rant elsewhere.

Have you actually read this thread and the T+Cs?
The order in which the transactions are listed has no bearing on whether there will be a charge or not.

Nigel

frugallass

MarkyMarkD wrote: »

I'd appreciate frugallass telling us what sort of "payment in" was involved. I'm guessing it wasn't a BACS credit, but something transferred/deposited on the day (i.e. too late).

It was a standing order of £50, which reaches my account every monday

frugallass

Further, I do have all my direct debits set up for 1 or 2 days after pay day but some still come out early !

RayWolfe

In that case, you have a problem with your suppliers, not your bank.
I may add that I have never, ever, had a DD debited early and I've been around for some time.

robnye

PROLIANT wrote: »

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.

i have been with A&L for 3 years now, I have between 30 and 40 DD's and SO payment made monthly,

i made sure all of the payment dates where 2/3 days after my payday, this way i have never had any problems with going into the red.

each month DW creates a list of what needs to be paid and then deducts that from my wage, whats left is ours....... its worked for us for 20 years.....
yes gone into red maybe half a dozen times in that period (at the beginning)

MrsTinks

Right I have removed posts that I feel are over the top abusive - please be nice to all money savers and if this thread can't be discussed calmly I'll have to lock it!