Standing order query

yomamma

I have two standing orders set up that go through every thursday for the last year. One standing order is 100 euro every thursday and the other is 20 euro every thursday.

I get paid on thursdays but tomorro I will only be getting paid 110 euro. This wont cover both standing orders.

What will happen?

Thanks!

yomamma

Hey, would really appreciate a reply Im with AIB, Thanks

Spocker

Looks like the second one will fail, due to insufficient funds

http://www.aib.ie/servlet/Satellite?c=IBContent_C&cid=1231170959044&pagename=aib-IBHelpInfo%2Faib-ib_main&section=aib-S005#q16

[Edit]There appears to be a fee (€10?) for each failed standing order too

yomamma

Hey thanks for reply


so you think 100 euro standing order will go through and 20 euro standing order will fail? By looking at the link you posted that just states if standing order fails two times in a row?

Spocker

Sorry, I've no idea what order they will process yours in, do they show up in the same order on your statements every month?

yomamma

No two seperate on my statement. Im presuming both will fail to go through or bothe WILL go through and then im left in the red. The fact that one is higher amount than the other shouldnt determine which one will go through. I know Ill find out tomorro but just like to know now. Ye its hard to know, was just hping someone on here has experienced it before and if they got charged for the failure.

rahenyrover

Its automated so all depends on the order they go through in. If the 100 goes through first the 20 will fail and vice versa. However AIB may be willing to let both through depending on the conduct of your account to date.
Standing orders normally have an automatic retry feature which will send it as soon as funds become available, this would normally be 7 days but may vary in different banks.

yomamma

Cheers! Will reply tomorro let you know what happens. The 100 euro standing order was set up first so hopefully that will go through and the 20 fails. 100 is rent money and if that dont go through then I have chance to stupidly spend it :eek:

Spocker

Well, what happened OP?