Standing order.

Sparkly Blonde

I'm with ulster bank and have a 300 euro overdraft. However often dd will come out and my account will go further into the overdraft and I pay an extra 5 euro charge (or there abouts) that's fine but I have Standing order and it has left my account today and the is over the overdraft limit. The payment has not reached the other account (BOI) and I'm wondering if the payment will be honored as it's above the usual amount that the bank would allow to leave the account or will it return unpaid. My account is showing minus the amount of the standing order and the standing order appears paid on my recent transactions.

coylemj

A standing order cannot 'return unpaid' from the would-be recipient - either your bank pays out or they don't. Depending on your bank, the payment may be in limbo in that it may be on the list of pending payments that require an official in your bank to approve or reject based on the fact that it's going to push you over your limit.

If you are with UB and the destination is BoI then it would probably not hit the recipient a/c until the next day if it was paid.

If you have a history of DDs or SOs pushing you over your authorised limit, your own bank will eventually block one of them i.e. they will either bounce a DD (tell the sender to PFO) or they will refuse to pay out a scheduled standing order. What you have to hope is that they one they pick to bounce or not pay has the least impact on you and your credit record.