Banks and Direct Debits

[Grandad.Malky]

Apparently like a cheap hooker they always say yes

 

I bet they wouldn’t say yes if you asked for you wages a few days early.

[Leah-Lacie]

I think with the banks not working weekends and bank holidays, so being unable to process it in time for the actual due date, it comes out early, rather than late. Standard practice as I'm aware, but I've been with the same bank for 22 years. You shouldn't be charged until the actual date has passed though, but it does suck if it leaves you with no money for a few days, of course.

[Grandad.Malky]

I think with the banks not working weekends and bank holidays, so being unable to process it in time for the actual due date, it comes out early, rather than late. .

 

Its funny how its never happened to me. I am with the TSB if that makes any difference.

[nexusdee]

I think with the banks not working weekends and bank holidays, so being unable to process it in time for the actual due date, it comes out early, rather than late. Standard practice as I'm aware, but I've been with the same bank for 22 years. You shouldn't be charged until the actual date has passed though, but it does suck if it leaves you with no money for a few days, of course.

 

Especially when my wages go in on the 28th but funny enough they aren't showing early hehe

[chimay]

I think you should tell the company that took the money early. They are obliged to refund any charges incurred by their actions. I have a loan with a bank which should be direct debited on the 16th of every month. Over the last year they have been taking the money later each month. It is now taken out on the 7th. Thinking that they will soon be taking 2 payments on one date I contacted the bank I have the loan with. They said if I can give them proof of incurred bank charges they will pay them. They will also revert to the correct date for taking the direct debit.

[Miss_S_83]

As LL said, because Weds is the first working day after the bank hols, it may show as debited today but as long as funds are there by whatever time on Weds, should be ok? Any money I have coming in or going out on a Monday for example, on a normal week, would show in my account on the Saturday. I am with Yorkshire Bank, if that helps. I would have to pay in funds by 2pm on the Weds if it was me.

[HeadingNorth]

Normally what has actually happened is, the bank sets aside the money on the Saturday if the debit is due out on the Monday, or first working day, of the next week; so it will show on a statement as having gone out, but it won't have actually sent you overdrawn.

 

 

If it has sent you overdrawn and charges are going to be invoked, then my original comments apply, and you demand a refund from the bank.

 

My wife's money is officially paid every Monday, but it appears in her bank account on Saturday; it's the same thing happening in reverse.

[Leah-Lacie]

Especially when my wages go in on the 28th but funny enough they aren't showing early hehe

 

If they were due on the 27th they likely would be though

 

I'm with Yorkshire bank too - Payments due to account on Mondays are indeed shown on my balance on Saturdays as Headingnorth said.

[HeadingNorth]

The Banking something-or-other-abbreviation website here gives details of how to claim a refund, should it prove necessary. (Thanks to dee01 for that link.)

 

Here's hoping, though, that it js just a case of the money being earmarked by the bank on the Saturday before it will go out.