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    • boo_star
    • By boo_star 20th May 12, 10:59 PM
    • 2,814 Posts
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    boo_star
    • #2
    • 20th May 12, 10:59 PM
    • #2
    • 20th May 12, 10:59 PM
    It all depends on the bank, some show credits due on Monday on Saturday, some don't (I know for a fact RBS/Natwest do.)

    That doesn't seem to be your biggest problem though, if the DD's come out on Friday then you'll either be unauthorised overdrawn or they'll bounce them (both incurring charges)
    • mountainofdebt
    • By mountainofdebt 20th May 12, 11:00 PM
    • 7,423 Posts
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    mountainofdebt
    • #3
    • 20th May 12, 11:00 PM
    • #3
    • 20th May 12, 11:00 PM
    In my experience any DD due to go out on the monday is taken on the monday - tbh I don't understand why you would think they would be taken on the friday

    What you may be getting confused with is that after the end of business on friday, it be that you can see all the dds that are due to leave your account the next working day (so in this case the monday) and the bank 'reserves' that money so effectively yes the money is not there for you to spend on saturday or sunday but doesn't actually leave your bank account until the monday.....by which time your salary has been credited to your account.
    • McKneff
    • By McKneff 20th May 12, 11:00 PM
    • 36,682 Posts
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    McKneff
    • #4
    • 20th May 12, 11:00 PM
    • #4
    • 20th May 12, 11:00 PM
    Sorry, Im a bit confused

    If pay day is Monday, why wont they go in on Monday

    If DD's are due on 28th which is Monday, why do you think they will go out on Friday.

    DDs Monday
    Pay Monday

    ???
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
    • boo_star
    • By boo_star 20th May 12, 11:17 PM
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    boo_star
    • #5
    • 20th May 12, 11:17 PM
    • #5
    • 20th May 12, 11:17 PM
    I'm guessing the OP is with a bank that credits/debits their account for items due out on Monday, at the weekend.

    But that said I still don't understand this, the banks that do this deal with forecast credits AND debits over the weekend, they don't process all the forecast debits and wait until Monday for the credits.
  • MissSarah1972
    • #6
    • 20th May 12, 11:21 PM
    • #6
    • 20th May 12, 11:21 PM
    I have direct debits going out on the 28th, which is my usual payday. Which means they will go out on friday the 25th. If my wages go in on monday it will mean I won't have money to pay all the direct debits on friday. Dad has said he could lend me some but I would rather avoid this.

    Surely wages should go in on saturday for monday? if the bank takes bills for monday on a friday.
    Originally posted by BrettMorganxD

    No DD's can be taken before the date due so no they will not be 'taken' on Saturday.
    • boo_star
    • By boo_star 20th May 12, 11:30 PM
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    boo_star
    • #7
    • 20th May 12, 11:30 PM
    • #7
    • 20th May 12, 11:30 PM
    No DD's can be taken before the date due so no they will not be 'taken' on Saturday.
    Originally posted by MissSarah1972
    The bank may "reserve" the amount if its a forecast debit, but as I said, when they do they also process forecast credits.
  • MissSarah1972
    • #8
    • 20th May 12, 11:47 PM
    • #8
    • 20th May 12, 11:47 PM
    The bank may "reserve" the amount if its a forecast debit, but as I said, when they do they also process forecast credits.
    Originally posted by boo_star
    "reserve" or no "reserve" you will never be overdrawn as if you have going in on the same day you can't be unless the DD's are more!? If you were ever found to be over drawn then the money has been paid before the credits were applied meaning the company who applied for the DD have taken the money on the wrong date are in breach of the contract they have with you.
    • getmore4less
    • By getmore4less 21st May 12, 12:18 AM
    • 37,584 Posts
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    getmore4less
    • #9
    • 21st May 12, 12:18 AM
    • #9
    • 21st May 12, 12:18 AM
    Having DD on the same day as payday is mad.

    no room for errors.
    • boo_star
    • By boo_star 21st May 12, 5:03 AM
    • 2,814 Posts
    • 2,162 Thanks
    boo_star
    "reserve" or no "reserve" you will never be overdrawn as if you have going in on the same day you can't be unless the DD's are more!? If you were ever found to be over drawn then the money has been paid before the credits were applied meaning the company who applied for the DD have taken the money on the wrong date are in breach of the contract they have with you.
    Originally posted by MissSarah1972
    Technically banks clear debits before credits, so you shouldn't have DD's leaving your account the day that the money comes in.

    Cleared funds the working day before

    But you already know this don't you Miss Pedant?
    • kingfisherblue
    • By kingfisherblue 21st May 12, 6:50 AM
    • 8,590 Posts
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    kingfisherblue
    Perhaps it is time to move the DDs to the first day of the month, and then the OP won't face this situation again.
    • withabix
    • By withabix 21st May 12, 6:56 AM
    • 8,959 Posts
    • 7,908 Thanks
    withabix
    Perhaps it is time to move the DDs to the first day of the month, and then the OP won't face this situation again.
    Originally posted by kingfisherblue

    Depending on the company you are paying, this may lead to you having to pay twice in one month when you change the date, because systems often work on calendar months.
    British Ex-pat in British Columbia!
    • McKneff
    • By McKneff 21st May 12, 11:17 AM
    • 36,682 Posts
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    McKneff
    Depending on the company you are paying, this may lead to you having to pay twice in one month when you change the date, because systems often work on calendar months.
    Originally posted by withabix
    That's what I thought too.

    You would be paying 28th of the month, then if you wanted to change it you would be paying a few days later on 1st or the following month.
    So technically 2 lots out of one salary. Of course it would only happen the once then carry on normally
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
    • maninthestreet
    • By maninthestreet 21st May 12, 12:30 PM
    • 15,361 Posts
    • 13,943 Thanks
    maninthestreet
    I have direct debits going out on the 28th, which is my usual payday. Which means they will go out on friday the 25th. If my wages go in on monday it will mean I won't have money to pay all the direct debits on friday. Dad has said he could lend me some but I would rather avoid this.

    Surely wages should go in on saturday for monday? if the bank takes bills for monday on a friday.
    Originally posted by BrettMorganxD
    So what has happened in previous months when your payday was on a Monday (excluding Bank Holidays) ??
    "You were only supposed to blow the bl**dy doors off!!"
  • BrettMorganxD
    So what has happened in previous months when your payday was on a Monday (excluding Bank Holidays) ??
    Originally posted by maninthestreet
    Can't remember it was never important. Last time I was paid on a non-bank holiday monday I was living with my dad so therefore had no direct debits.
    • Kimberley
    • By Kimberley 25th May 12, 8:06 PM
    • 13,401 Posts
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    Kimberley
    Having DD on the same day as payday is mad.

    no room for errors.
    Originally posted by getmore4less

    I agree. I get paid on the last working day of each month and my direct debits are payed on the 1st of each month. I'm with Natwest and Mondays transactions appear on Saturday.
  • skintandscared
    I am also paid on the 28th of the month (or earlier, if 28th falls on a weekend day) and have set all my direct debits for the 29th or 1st. In my experience, DDs have never come out early. If the set date falls on a weekend, it is always the Monday after that it's taken out. Maybe I've just been lucky?! The secret is, do a simple spreadsheet with all your DDs/Standing orders on. Each month, put your salary in and have a simple formula to tell you what's left. If you spend within that, your DDs/SOs will never bounce Works for me.
    DMP Mutual Support Thread member 244
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    • jc808
    • By jc808 26th May 12, 10:39 AM
    • 1,699 Posts
    • 1,450 Thanks
    jc808
    I have direct debits going out on the 28th, which is my usual payday. Which means they will go out on friday the 25th. If my wages go in on monday it will mean I won't have money to pay all the direct debits on friday. Dad has said he could lend me some but I would rather avoid this.

    Surely wages should go in on saturday for monday? if the bank takes bills for monday on a friday.
    Originally posted by BrettMorganxD
    i wouldnt bother asking your bank - id ask random people on a forum as they are the best qualified to discuss your unknown banks dd policy...
    • Hootie19
    • By Hootie19 26th May 12, 12:25 PM
    • 1,224 Posts
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    Hootie19
    Am I the only one who is confused by the question?

    If my payday falls on a Monday, why should my salary be paid into my bank before the Monday? Apart from when the Monday is a Bank Holiday, of course.
    • liney
    • By liney 26th May 12, 1:40 PM
    • 4,893 Posts
    • 8,248 Thanks
    liney
    Am I the only one who is confused by the question?

    If my payday falls on a Monday, why should my salary be paid into my bank before the Monday? Apart from when the Monday is a Bank Holiday, of course.
    Originally posted by Hootie19
    No you're not the only one. Payment will only be made early if payday falls on Saturday, Sunday or a Bank Holiday Monday. Payment should clear the prior Friday.

    It appears the OP thinks his employer should pay him earlier because he has set up Direct Debits without due thought.
    "On behalf of teachers, I'd like to dedicate this award to Michael Gove and I mean dedicate in the Anglo Saxon sense which means insert roughly into the anus of." My hero, Mr Steer.
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