I have a bank question, Help!!

Banksuck

I have a Royal Bank Of Scotland business and personal account. Out of the blue i suddenly had a number of items returned unpaid, even though I had paid in cash on that day first thing. I phoned the bank and was told that I should make sure the money is there on the previous day. What about close of business 3.30 pm????? Is this the same with all banks? I thought if you paid in cash on the day it would cover items for that day!! Any comments. Thanks!!

Mark7799

Banksuck wrote: »

I have a Royal Bank Of Scotland business and personal account. Out of the blue i suddenly had a number of items returned unpaid, even though I had paid in cash on that day first thing. I phoned the bank and was told that I should make sure the money is there on the previous day. What about close of business 3.30 pm????? Is this the same with all banks? I thought if you paid in cash on the day it would cover items for that day!! Any comments. Thanks!!

The majority of banks require you to ensure that you have funds available the working day BEFORE payments come out of your account (incidentally, Saturday isn't counted as a working day for this purpose). Some (I think HSBC may be one) will still allow same day cover/

Lorne

I'm also with RBS and they require the cleared funds the day before the debit is due to come out, it is a complete pain.

advantix

Thats strange, i bank with NATWEST (Part of the RBS Group) and they allow you to pay in the same day DD's and SO's are due out. Never been a problem for me.