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quick question re direct debit

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  • 31-08-2013 10:44am
    #1
    lolo62
    Registered Users Posts: 1,145 ✭✭✭


    I didn't make it to the Ebs yesterday to lodge funds.
    My account is at zero and there is a direct debit due to go out Monday.
    If I lodge the funds before the end of the day will I stay in the clear?
    Or will I be penalised if the direct debit is attempted before I lodge funds?
    Thank you


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    #2
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Generally if the funds are lodged before 5pm, your DD will be honoured. But before you lodge the money, the DD will overdraw your account, for which you'll be charged.


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    #3
    lolo62
    Registered Users Posts: 1,145 ✭✭✭lolo62


    Nervous Wreck wrote: »
    Generally if the funds are lodged before 5pm, your DD will be honoured. But before you lodge the money, the DD will overdraw your account, for which you'll be charged.

    Thank you!
    If I get there at 10 in the morning and lodge it will that make a difference?


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    #4
    coylemj
    Registered Users Posts: 25,362 ✭✭✭✭coylemj


    lolo62 wrote: »
    Thank you!
    If I get there at 10 in the morning and lodge it will that make a difference?

    It depends on when EBS processes direct debits. If they do DDs after close of business and you lodge cash at 10 a.m. then there shouldn't be a problem but you need to mention it to the official when you're making the lodgement.


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    #5
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    lolo62 wrote: »
    Thank you!
    If I get there at 10 in the morning and lodge it will that make a difference?

    The DD will process over night so you'll still be charged for being overdrawn. Debits before credits and all that. But sure better to get charged a fiver for being overdrawn than a tenner for missing the DD!


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    #6
    lolo62
    Registered Users Posts: 1,145 ✭✭✭lolo62


    Thanks guys looks like a fiver it is so...its funny, I actually went through the nightmare of changing current accounts from aib to Ebs to save on some charges. I still have an account with Aib for cheques (Ebs don't do them) and if a cheque is cashed on zero and I lodge money by the end of the same day there is no charge. Plus you can hit the post office on Saturdays with Aib, which is great when you miss Friday.
    Oh well grass is always greener and all that...


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