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Direct Debit four days early.....Overdrawn!!!
[Deleted User]
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HI, I just checked my NatWest account and my electric DD has come out 4 days early and my account is now overdrawn and I have just called the bank about it and they want me to go call back at nine and go through to lending. I get the feeling I will be charged 38 quid even though the bill is supposed to come out on the 10th. Am I OK? I have only just changed to Natwest and already something like this happens.
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Could just be the same sort of thing as Tuesday is the next working day so I can't see you being charged for it as long as there will be more money credited to your account before Tuesday (ie electronically) to cover the shortfall.
They WILL charge you irrespective of what they say on the phone, because they suck monkey anus and charge even if it isn't your fault.
Be prepared for an argument and a repeat of your bank charge saga.
For example, my paydate is the 10th but because Natwest One operate the above method I could get my money out on Good Friday!
Hopefully they won't charge you. It's one of those things that sometimes hapens where bank hiolidays are involved, as the direct debiters get their money early.
If you agree a date with a company for your payment to come out then that is the day it should leave your account. This is barring anything like weekends and bank holidays.
Now, it's up to the company when they pull it from your account. Either the working day before or after. And it also depends on whether they get it right or not as they have to do a run 3 days before they want it to leave your account.
If you happen to get charged by your bank for being overdrawn (and also keep an eye out for unautorised debit interest!) then you need to get in contact with this company and explain it to them.
This will show up on your statement and should you need that for anything like a mortgage in the future it won't look good for your credit with them. Because they look for overdrawn periods.
They should rightfully refund any charges into your account with an explanation of mischarged or something to that affect so if you DO need your statement then you can show that it was due to that company's error that you were overdrawn.
Hmmm....
So basically : Make sure you know the date that its supposed to be leaving on. If it was due to a bank holiday it was being taken out early then make sure it was the working day BEFORE the weekend/bank holiday as they are within their right to do this. If it's sooner than that then it's the company's fault and you should contact them. The bank have no control over DD's because you have signed a contract with a 3rd party authorizing this payment to leave.
They will sometimes let a debit leave to save you costs from the third company and the embarassment of it being rejected.
Sheesh that was a book....but I hope it helps a little! :rolleyes:
To do this you go to your bank and do an indemnity claim. They will ten refund the money there and then and this will then be reclaimed from the company who took it. Apart from that it can take the company a few days to get the refund back andyou ma get extra charges.
Then send a copy of statement to the company showing charges and they will consider the situation!