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Direct debit over the weekend?

  • 21-03-2014 5:24pm
    #1
    robocode
    Registered Users, Registered Users 2 Posts: 491 ✭✭


    My eircom bill is due to come out by DD any day (they never stick to 14 days), it hasn't come out yet though so I'm wondering can it come out over the weekend? I'm paid on Monday so just trying to figure out if I withdraw what's in my account now, could the DD try go through tomorrow and bounce if not enough money in account?


Comments

  • #2
    nlgbbbblth
    Closed Accounts Posts: 5,668 ✭✭✭nlgbbbblth


    No. Saturday and Sunday are not processing days.

    In pre-historic times i.e. BEFORE SEPA transactions due on Monday [direct debits, standing orders, automated credits] affected your available balance as soon as the Friday night update occurred. That basically meant that if your wages were due Monday you could access them on Saturday morning. The downside was that any debits due Monday would also come off the balance.

    SEPA appears to have put paid to this and transactions aren't effected until Monday.


  • #3
    robocode
    Registered Users, Registered Users 2 Posts: 491 ✭✭robocode


    Thanks!


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