its not rocket science if it is due out on the 25th make sure there are sufficient funds in on the 22nd that way you do not end up paying extortionate charges and it is money that you are having to pay so ensure it is in the bank waiting.
what bit is too difficult for you to understand.
3 days before due date=make sure money in=money taken out on time=no charges. simples

no i would accept that you are thick and cant read what it says on the front of the bus
it would also get me a grand off our union thus enabling me to put even more money in my account.
stick to fantasising you are better at it

Would it be a solution to change the date of a standing order, to 3/4 days after the date your salary is due to be paid in?

That would smack of common sense.

Most of mine are set up to come out about a week after payday. It gives a little bit of a safety net. Some people are a bit too thick to do that though and would rather moan and gripe about the banks without thinking about what they could do to actually avoid the problem.

Probably people don't realise the possible discrepancies until they fall foul of them. If I set up a DD for a specific date, I'd expect the money to come out on that date, and I'm sure that's what used to happen when I worked in the trade, long ago.

It seems to me to be sharp practice for companies to do otherwise, whatever the small print says. And we all know why things are written in small print.......



ps I now see Chip has said all this, but never mind......

You sound like Jim Allan, Ripper.

come of it grabec we all know your a young-un you sound like your a granny or something

online banking move money from current to savings accounts and always ensure the money is moved to the current account in time for direct debits, no charges and interest on savings.
try it you might be able to afford to go to pools more often

he has a season ticket mr bus

Ah not so fast.

Let me clarify the standing order / Direct debit thing because there seems to be some confusion.

A standing order is for a fixed amount on a fixed date each month / week.

A direct debit is for 'variable amounts' at 'variable dates' so in other words you are signing a blank cheque. The DD guarentee scheme is valid but if the company can proves its debt then you are fooked. Nevertheless if you claim back a DD your account should be credited straight away pending investigation.

There is a twist to all this. Some time ago the banks collectively admitted that on any one day they carry out debits from accounts before doing the credits which in some cases will result in an account being overdrawn in spite of the account holder's efforts to keep it in credit.

This works to the banks advantage on all sorts of levels i.e. it minimises balances and reduces, as far as possible, interest payments. Conversely it maximises the chance of accounts being overdrawn and charges levied.

It seems though that some people don't realise that banks are commercial operations and don't take action to keep the cost of buying the services of the banks as low as possible.

It's a big bad world out there y'know.

you his self appointed PA like

no i just know he has a season ticket.

I think everyone has grasped those things, Frodraff.
Not taking action to keeping customers' costs down is a bit different from using practices which will fleece people.

Mr B, above, pointed out that if the banks didn't allow people to go into overdraft, none of the DD anomalies could happen. Companies wouldn't then try to extract money before the due date, and banks wouldn't be able to charge overdraft fees for letting the companies do it. The fact that overdrafts can happen at all is all grist to the mill of banks and big business. You can be complacent about it if you like, but other people have a right to be bloody annoyed.

I think you've misunderstood what I said.

Wrong, utter tosh. With a standing order, the customer says the day of the month and the amount. The company doesn't request the money, the bank sends it at the customers request.

There are two types of direct debit, fixed and variable. You agree that the company can ask your bank for a sum of money on a certain day in the month, and are duty bound to have that sum available. Maybe it's British Telecom who review your account once a year and adjust your fixed direct debit to suit. Maybe it's a credit card and you want to pay off the balance every month, so you agree to a variable direct debit and the credit card company will ask the bank for a sum correspondent with your card balance.

As for the Direct Debit Guarantee, from one who's department had to refund the whole sales ledger due to a computing error (man-made by the way) I can attest that it's perfectly watertight and merely warns you that the money may have gone from your bank account but it's not guaranteed to show on your BT or whatever account for up to three days. The day you say at the outset is the day it happens unless you change it or agree for it to be changed and if the company makes an early request it simply gets turned down.

HTH.

The feeling's mutual.

i,ll see your decade and raise you 39 years worth

What they will often do, as has happened to me, is take a DD due on a Monday off your account on the Saturday, albeit dated with the Mondays date on your mini statement or online account. But it is still gone, and can mean that money you had intended to shop with over the weekend is no longer available. Now the banking apologists will say the banks are just covering themselves, to make sure you have funds available for the Monday DD, but that is already covered by money going into my account on the Monday.

no6bus and ripper are totally full of shit.

Are you trying to tell me if your direct debit fucks up and you went over drawn and got charged £60 you would just sit there and say oh thats fine that is the rules after all.

No one likes paying bank charges, there far too high and in 90% of cases they are unfairly dished out.

no because if i knew that my bank charged £60 i would make sure my money was in the account ready for the direct debit ffs its not rocket science.
and as for the smokescreen over the council DD your council tax year runs from 1st april but the DD is taken out on the 30th so you have had 30 days to ensure the money is there.
if you live within your means and ensure there is sufficient funds in your account to cover up and coming debits you wont get charges.
alternatively contact your bank arrange an overdraft but dont use it as your money then if you are a day late putting money in the overdraft ensures you dont pay a ridiculous charge.
or are you so fooking stupid you cant work that out.
just checked my banks charges and accorfing to their website it is only £35 so another money saving tip is change banks to 1 with lower charges.
now welcome to the board and watch the telly or something because this is all a bit too grown up for you to understand obviously

all of them points are valid, but everyones circumstances are different and some people don't have the option of having money in there.

you've not really taken into account my point, it was a what if situation, what if your dd fucked up and you got charged, you wouldnt accept it.

I think you should stick to riding buses cos reading posts is not your strong point.

the hypothetical situation you mention does not happen because i manage my money therefore giving me increased spending power because i am not losing £35/60 by going into an unauthorised overdraft.
the DD does not fook up the account holder does by not ensuring that the funds are available.

and actually i drive the bus and passengers ride the bus.

anything else you need clearing up

"Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery Copperfield m'boy."

Interestingly Micawber's character in David Copperfield, was modelled on Dickens' father, John Dickens, who ended up in a debtor's prison after failing to meet the demands of his creditors.

Learn by experience.

think mr mitty is having our life again you can tell there is no game to make excuses for not attending