Direct Debits

Hammer89

Do direct debits go through on weekends?

I get paid on the 5th of every month now, which is a Saturday this time around, but I checked and it's not there today. Normally I wouldn't be concerned, and I'm hopeful it'll be there tomorrow, but I'm looking for some reassurance because it's absolutely vital that it's there. I'm freelance so it's a very insecure job and delays are par for the course but, as I said, it's very important that there's no delay this month.

Feel free to close this thread, but maybe turn a blind eye until the lads have had their fun and until someone gives a proper answer?

athtrasna

Hammer89 wrote: »

Do direct debits go through on weekends?

I get paid on the 5th of every month now, which is a Saturday this time around, but I checked and it's not there today. Normally I wouldn't be concerned, and I'm hopeful it'll be there tomorrow, but I'm looking for some reassurance because it's absolutely vital that it's there. I'm freelance so it's a very insecure job and delays are par for the course but, as I said, it's very important that there's no delay this month.

Feel free to close this thread, but maybe turn a blind eye until the lads have had their fun and until someone gives a proper answer?

Working days only afaik. I use them in work and our mandates state "on the fifteenth day of the month or nearest subsequent working day "

backspacer

Going with the normal answer here,usually only through on business hours,normally monday to friday

NachoBusiness

Not sure about all banks but TSB have often processed one of my DDs that was dated for a Monday, on the Saturday and subtracted the amount from my available balance. Really annoyed me one week as I was at the O2 and buying drinks and my card was declined. I had to come clean and tell the girl I was with that I wasn't really rich.

Corpus Twisty

If it's paid on the 5th, which is by default a ninth, it will generally not land until the 7th unless it's a quaternary month in which case it will probably be the 8th at close of business, assuming the BIC header adjustment period is not in force, in which case it'll be the 10th.

That's generally been my experience anyway..or in other words, probably no, but possibly yes, with provisios vis a vi the transaction induction time and the state of the tides off orkney.

Hope that helps.

Hammer89

Corpus Twisty wrote: »

If it's paid on the 5th, which is by default a ninth, it will generally not land until the 7th unless it's a quaternary month in which case it will probably be the 8th at close of business, assuming the BIC header adjustment period is not in force, in which case it'll be the 10th.

That's generally been my experience anyway..or in other words, probably no, but possibly yes, with provisios vis a vi the transaction induction time and the state of the tides off orkney.

Hope that helps.

You lost me at "quarternary month" but I appreciate the effort.

Hammer89

I also probably used the term 'direct debit' falsely. I'm talking about money going in, not coming out.

Whispered

Week day only in my experience.

NachoBusiness

Hammer89 wrote: »

I also probably used the term 'direct debit' falsely. I'm talking about money going in, not coming out.

There's no probably about it then. You definitely used the term falsely.

You've made an absolute show of.. five of us.

There is a massive difference between taking and receiving. One day you'll learn that the hard way.

Corpus Twisty

NachoBusiness wrote: »

There's no probably about it then. You definitely used the term falsely.

You've made an absolute show of.. five of us.

I shall have to rejig my entire calculation now. Bugger.

Badly Drunk Boy

I take it you mean your wages into your account rather than direct debits being taken out, do you? An ex of mine works on the computer side of things as a contractor to a bank, and her shift covers the weekends (she works 12 hours every second week), making sure transactions go through, back-ups are made, etc. If the transaction is meant to go through automatically, I don't see why it wouldn't.

It's more to monitor the systems are working than the banking side of things so maybe it doesn't happen like that. I can't remember...

One eyed Jack

Hammer89 wrote: »

I also probably used the term 'direct debit' falsely. I'm talking about money going in, not coming out.

Yeah I was thinking that, when you said your pay goes in on the 5th of every month. I'd say you could be waiting until midnight tonight for it tbh, then have a chat with your employer about their paypath system to ensure it doesn't happen again that you're left out of pocket.

Hammer89

Badly Drunk Boy wrote: »

I take it you mean your wages into your account rather than direct debits being taken out, do you? An ex of mine works on the computer side of things as a contractor to a bank, and her shift covers the weekends (she works 12 hours every second week), making sure transactions go through, back-ups are made, etc. If the transaction is meant to go through automatically, I don't see why it wouldn't.

It's more to monitor the systems are working than the banking side of things so maybe it doesn't happen like that. I can't remember...

Now I'm worried again. I should've had this thread closed when I was feeling optimistic.

Amirani

If its intrabank then it can be processed. If its interbank then it won't because Target2 will be closed and the payments can't clear.

corner of hells

Amirani wrote: »

If its intrabank then it can be processed. If its interbank then it won't because Target2 will be closed and the payments can't clear.

oh la di duh , with your fancy technical jargon.