Standing Orders/Bank Holidays

EvilDreams

EvilDreams

EvilDreams

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Joined
6 Jul 2008
Posts
1,841
OK,

I have a standing order set for the 27th of every month.

My current account seems to be minus roughly the amount of that standing order, as of today.

Is it possible that the bank, which will be closed on Monday the 27th, has decided to take that money a day early? There is no record of any transaction of that amount so far.

I hope this is the case.

TIA
 
Yeah that's pretty normal, direct debits and bac payments do that, standing orders waiting until after the BH. You don't incur any charges however, but still can't withdraw money.

It's a bit annoying as I get paid by standing order, but the mortgage comes out via DD obviously, so if it's timed badly I can be overdrawn all bank holiday and be unable to buy anything.

Rang the bank the first time and they confirmed that it'll show as overdrawn but I wont be charged.
 
Thanks for the reply.

This is a standing order though, not a direct debit, and it seems to have come out a day early.

Most sources say it would usually be the day after the bank holiday. That's why I felt the need to ask.
 
Your sources agree with my bank, maybe it's something to do with cleared funds, you might find that in cleared funds you have the amount still in your account, but uncleared it shows the amount has left?

Not sure really, someone on here will no doubt swoop in with the correct answer.
 
I dislike my bank for this reason, The balance is always incorrect.
There is - Balance and Available funds numbers, The latter for me is the correct one and the former is a bunch of crap
 
Upon further musing it seems that the amount I am short in the account is exactly the value of the standing order.

edit: I phoned the bank and it's cleared up. Real life 1, Internet 0.
 
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