Direct debits: effect of manual payment to HSBC

Moggles_2

Hi Everyone!

The effect of a manual payment, when a direct debit is active on your account, varies between lenders. Does anyone happen to know HSBC's policy? It's not mentioned in the
Ts & Cs. (Perhaps it will be stated in a DD mandate confirmation letter.)

The variations I have encountered are:
1) The DD is recalculated if a payment is made at least x days before the DD is due
(eg. Capital One, Egg)
2) No account is taken of any payment made. The amount specified on your statement is automatically collected by DD unless instructed otherwise (eg. Co-Op, MBNA, RBS).
3) If a payment is made, regardless of the amount, no money is taken by DD that month
(eg. Bank of Ireland)

YorkshireBoy

HSBC is not mentioned in this thread Moggles, but First Direct is. I wonder if they have a common policy?

http://forums.moneysavingexpert.com/showthread.html?t=901637

Moggles_2

Aha. More than likely. I managed to miss that thread.

Thanks for your swift reply, YB.

Cheers
M
:beer:

skyrider007

HSBC is slow at updating thing so I reckon they won't update the DD amount.

geekychick

HSBC don't update the DD amount if I make an additional payment.