D/Debits. 'On or about...'
I'm having a go-round with BT (again!). They ask a preferred date for my direct debit and agree to it. Email to confirm, but it contains the phrase 'on or about the 7th of the month'.
So they didn't take the d/d on the 7th, and it still hasn't been taken out today 10th. I'm on a fixed budget. I need to know what money is coming out when. Does anyone know how long 'or about' is, or is it a case of how long is a piece of string?
So they didn't take the d/d on the 7th, and it still hasn't been taken out today 10th. I'm on a fixed budget. I need to know what money is coming out when. Does anyone know how long 'or about' is, or is it a case of how long is a piece of string?
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Doesn't it say the exact date on your monthly BT statement?
Don't forget your collection date will be 7, 10 or 14 days after the statement date, so if the statement date is deferred due the Christmas holidays, then so will the collection date.
It also depends on who you bank with. Some will post transactions that are due to be posted to your account on Monday 12th January today, others hold them until the actual due date of the 12th.
If you are having budgeting problems, why not open a second current account and transfer a sum equal to the total of all your direct debits across on payday? That way you know that what is in your account is there for you to spend.
My BT statement states the 7th, my preferred date. My bank is very good in the respect that it holds the d/d amounts from my balance until the date, if it's a weekend for instance.
The only caveat is that the email states 7th February when I have 3 times BEFORE 7th January reiterated that the d/d/ comes out on that date. I'm just concerned that BT will take out the amount at whim on a date which will mean insufficient funds in my account.
Well, you clearly know exactly how much they are taking. So just leave that sum available to draw.
It sounds like it hasn't been set up in time for Jan and will start from Feb.
Quite so. In theory that's the way it should work, except when one is on a very tight budget So on Saturday 10th, I check my balance at the ATM and it gives me a figure, I know I have x amount to spend on food shopping and spend it!
Every other d/d comes out on the date specified, but then this is BT I'm talking about. Laws unto themselves >:(
Really. If you run your account close to the limit, assume the worse, not that it's ok to spend when there's a chance that funds may not be available.
The phrase "on or about" is quite relevant. It means exactly what it says - that sometime around the date specified the money owed will be taken and is certainly not available. It's up to you to work around that. FWIW Tesco take the payment for my credit card at best 1 day before and anything up to 4 days after the 'due date'. Plus Net (ISP) usually take the payment a few days after the due date; utility companies that I use take their money some time around the expected date. Point being that it's quite normal for the payment to go out on a date not exactly on the specified date, and also that because it's entirely predictable that sometime over the period of time that I expect the payment to go out, my reasonable assumption is that my personally calculated available balance takes that into account. You can use Excel, bits of paper, rely on online banking, use your own home-brewed accounting system or just rely on everything being absolutely hunky-dory and on time to keep track of what's going in & out of your account. Relying on payments being made when you expect them to be made is probably the least reliable method tbh.
You just spend whatever amount the ATM tells you? Strange!!!
I think people should have a personal 'buffer' amount in their account.
Couldn't have put it better myself :kitty:
Ah thank you. That's the information I was asking for. I've never been overdrawn and don't intend to start now, because I manage my direct debits assiduously. It's when one of my direct debits goes awry that I worry. Can BT just take the direct debit when it damn well suits them?
I've been in touch with them 3 times since the beginning of the month (always via on-line chat as 'phoning them gets me no-where in a long time!) and have been assured that although there is a glitch in their system (when isn't there??) the money should have been taken on the 7th.
Round and around we go.
I really don't see the problem, esp now that you've told us you manage DDs assiduously. You know that some money in your account is earmarked for BT and that they should have taken it on the 7th but haven't yet. The 7th was Wednesday; it's only two (three incl today) working days late - that falls within my definition of 'on or about'.
It's simple - once the due date arrives the money is no longer yours to spend. There may be an argument for calling foul if it's paid 3 months on, but 3 working days? Doesn't even warrant a call to BT. On or after the 7th it's their money.
My phone company (KC) seems to disregard this if my payment day (15th) falls on a Sunday. They take it out on Friday the 13th instead. >:(
Any company found to be falling foul of the DD agreement could have their DD facilty withdrawn. You should complain to them.
Then again, with the easiness and availability of online and banking apps it shouldn't be a bother to keep tight control of your spending and balance.
I thank you for this. From the website :
If a Direct Debit payment has been taken which is not in accordance with the advance notice received i.e. too much has been taken or the payment has been taken on the wrong date you are entitled to an immediate refund of the amount debited from your bank under the Direct Debit Guarantee. If the payment due date falls at a weekend or on a bank holiday the organisation is obliged to debit your account just after the due date, not before, unless they notify you in advance of a change of date.
As some of my d/d are taken on a Saturday if for instance 7th of the month falls on a weekend, by my count, 7 full days have fallen since the date the d/d should have been taken. It's therefore up to BT to give me 10 days notification as to the date they will take it.
It's never been about managing my money. I do that very well thank you, and the monies due to BT are set aside. My beef has always been that when a d/d is set up, the damn companies should stick to the rules!
In this case the 7th was a Wednesday, and I've been a customer since 2008 and always paid by d/d. The only difference is that I agreed with BT a lower tariff because I had built up a fair amount of credit. I asked that my d/d be lowered and they agreed. This was agreed on 19th December 2014. I received an email which was generic, just reiterating my bank details, not even an acknowledgement of the lower d/d but DID specify the 7th of the month.
It was probably too late by the time the new agreement was in place to take out the money on the 7th January (Christmas and all the bank holidays would have delayed things further). You may have had a DD agreement in place since 2008 but a change will probably effectively mean a new DD has been set up.
Hopefully it will just be this month that it is taken late and from the 7th feb, the payment will go out as planned.