A direct debit question.

SystemSystem Posts: 2,096,970
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Hello :)

A direct debit is due to come out of my account on the 27th August.

This is Saturday.

When will the money come out.

Please dont tell me before the 26th :(

Have a nice day :)
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  • scn123scn123 Posts: 4,049
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    The first working day after that. :)
  • PamelaLPamelaL Posts: 67,688
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    I think it will come out on Saturday. :)
  • andyk481andyk481 Posts: 2,574
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    generally (though it depends on the company) the direct debit will be taken on the first working day after the weekend. certainly this has always happened with mine, so i expect you will be fine!
  • SystemSystem Posts: 2,096,970
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    A Standing Order would leave on the Saturday but a Direct Debit leaves the first banking day after a non-banking day. This would mean Monday 29th.
  • PamelaLPamelaL Posts: 67,688
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    See what do I know. :o
  • scn123scn123 Posts: 4,049
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    PamelaL wrote:
    I think it will come out on Saturday. :)

    No - Weekends don't count - It will come out on the Monday - Trust me.
  • lawrenma2lawrenma2 Posts: 4,060
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    But the DD is applied for 3 days before the payment is due so be careful they don't charge you if you're thinking of withdrawing the amount needed.
  • SystemSystem Posts: 2,096,970
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    It actually wont leave until Tuesday 30th as Monday 29th is the August Bank Holiday everywhere except Scotland. :o
  • midsguymidsguy Posts: 725
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    I'm with Natwest and always have this problem. My DD will always come out on the Fri/Sat prior to Bank Holiday.

    I'd check with the bank but mine NEVER come out after the Bank Holiday.
  • SystemSystem Posts: 2,096,970
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    cifpower wrote:
    It actually wont leave until Tuesday 30th as Monday 29th is the August Bank Holiday everywhere except Scotland. :o

    The banks don't work up here either. Everyone else does :(
  • scn123scn123 Posts: 4,049
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    midsguy wrote:
    I'm with Natwest and always have this problem. My DD will always come out on the Fri/Sat prior to Bank Holiday.

    I'd check with the bank but mine NEVER come out after the Bank Holiday.

    HSBC (the listening bank :) )take it after the holiday.
  • andyk481andyk481 Posts: 2,574
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    does the op want to borrow some cash just in case? :p
  • scn123scn123 Posts: 4,049
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    andyk481 wrote:
    does the op want to borrow some cash just in case? :p

    Shall we have a whip round? :)
  • 20something20something Posts: 428
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    If i have a direct debit due to to come out on a saturday sunday or monday it will usually come out on the saturday but comes up as a transaction in course till the tuesday.Meaning it could still be reversed and if you didn't have money in your account to cover it you could still put it in on a monday morning with no charge as it hasn't properly came off your account.

    Well thats what happens with my bank anyway :)
  • SystemSystem Posts: 2,096,970
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    LOL - I will go overdrawn a bit and I dont want to givve the bank anymore of my hard earned cash!!

    Grr to them!! He He!!

    Thanks for the info all!!
  • midsguymidsguy Posts: 725
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    Well thats what happens with my bank anyway :)

    Natwest by any chance?
  • 20something20something Posts: 428
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    midsguy wrote:
    Natwest by any chance?


    royal bank of scotland
  • SystemSystem Posts: 2,096,970
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    royal bank of scotland

    who bought NatWest a year or two ago
  • midsguymidsguy Posts: 725
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    royal bank of scotland

    Same company - their systems must be the same
  • [Deleted User][Deleted User] Posts: 3,356
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    The direct debit goes out when the collecting bank applies for it. It always seems on my account that payments that should go in when the date falls on the weekend always go in afterwards and the payments that should be going out, always go out before.
  • BexTechBexTech Posts: 12,957
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    potatolegs wrote:
    LOL - I will go overdrawn a bit and I dont want to givve the bank anymore of my hard earned cash!!

    Grr to them!! He He!!

    Thanks for the info all!!

    Should get an overdraft facility, most banks offer them for free, stops you worrying about going overdrawn then. I haven't had to use my overdraft facility for many many years, but it's there just in case.
  • Shelley FabaresShelley Fabares Posts: 2,968
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    royal bank of scotland


    Same company - their systems must be the same



    who bought NatWest a year or two ago




    When I went into an RBS to withdraw money over the counter in cash from a Nat West account I was told they couldn't do it over the counter as it was two separate systems.
    I could however use a Nat West cashcard in the RBS cash machine outside the door.
  • SystemSystem Posts: 2,096,970
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    BexTech wrote:
    Should get an overdraft facility, most banks offer them for free, stops you worrying about going overdrawn then. I haven't had to use my overdraft facility for many many years, but it's there just in case.

    I have got one but they charge 15% interest, and I dont want them to have ANY of my money lol!!

    Im just being mega tight lately. :D
  • BexTechBexTech Posts: 12,957
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    potatolegs wrote:
    I have got one but they charge 15% interest, and I dont want them to have ANY of my money lol!!

    Im just being mega tight lately. :D

    15% for a couple of days is going to be pennies, better than £20+ . 15% is a little high though.
  • [Deleted User][Deleted User] Posts: 94
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    okay i worked for natwest (before i quit a few weeks ago) and their system is the exact same as RBS. they run seperately but are exactly the same.

    With regards to the d/d this is how the system works. If the direct debit is due out the day after a weekend whether it be a monday or in your case tuesday due to the bank holiday then the money will be debited from your available funds, meaning it will show as whatever money you have in your account before the d/d goes out, but you won't be able to withdraw the money. it'll be easier if i explain via example.

    balance = 50
    d/d is for 30
    available funds = 20

    so you can withdraw 20 from a cash machine but it will show you have 50. This system is in place to make sure you don't go overdrawn and can't pay the d/d. you still earn interest for the balance of 50 till the day the d/d shows on your a/c
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