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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

to think if i go to the bank and put money in it should go straight into the account?

30 replies

biddysmama · 04/08/2011 08:26

its my husbands account, i put money in on monday at 3.48pm (ive got the reciept) so we could pay a bill, online banking says it went in on tuesday so he was overdrawn and charged for it

aibu to take the reciept and tell the bank he shouldnt be charged cos the money was there or did i do it to late in day? at my bank its instant Confused

OP posts:
ddubsgirl · 04/08/2011 08:27

i would go in a nd get it checked,some banks if paid after 3pm doesnt register till next day

Shutupanddrive · 04/08/2011 08:29

Did you just pay cash in? I paid cash in with a cheque in the same transaction and it all took 3 days to clear because of the cheque! If it was cash on it's own it should go straight in

5inthebed · 04/08/2011 08:30

Yeah, some banks have a 15:00/15:30 cut off for money going in.

Original poster
biddysmama · 04/08/2011 08:30

i paid in cash :)

OP posts:
Bloodymary · 04/08/2011 08:32

As I recall, anything paid in after 3pm is dealt with the next day.

Shutupanddrive · 04/08/2011 08:32

I would ring them up then, when was the bill going out? Monday or tues?

Hevian · 04/08/2011 08:35

That's ridiculous. If you paid cash in they have it! I'd create merry hell if it were me. You probably need to speak to a manager (rather than someone at the counter)

nbee84 · 04/08/2011 08:36

I was behind someone in the queue at the bank who was paying in money to cover a bill, but it had already been rejected due to no funds. The cashier told him that if a bill is due out there needs to be money in the account first thing in the morning so it would be better to put the money in the day before to make sure it is covered.

And as others have said anything after 3/3.30pm is not registered until the next day.

TiaMariaandDietCoke · 04/08/2011 08:37

was the bill paid via direct debit or similar? (ie you or DH didn't draw our cash on monday to pay it?) - as long as you didn't withdraw cash, this shouldn't have happened - a lot of banks process payments in and out of theur accounts in one job lot each day - essentially they show up as coming in (or out) at midnight. BUT banks are supposed to process credits first, to avoid exactly this type of situation - for years some banks were getting away with charging customers of 'being overdrawn' of essentially a few seconds (between the debit being applied and the credit being applied afterwards) - AFAIK ALL UK banks are now obliged to process in this order now.

Alibabaandthe80nappies · 04/08/2011 08:37

Most banks have a 3/3.30pm cut off time for transactions done in branch. They should have pointed that out to you though and then you could have paid the bill in person at the post office or something.

Original poster
biddysmama · 04/08/2011 08:38

yes, it was a direct debit, i took cash from my account, went to his bank and paid it in

OP posts:
Shutupanddrive · 04/08/2011 08:42

But if the direct debit went out on Monday, the money should have been in there first thing Monday morning. It would have already gone out before you put the money in, so yes you would be overdrawn

ddubsgirl · 04/08/2011 08:44

my bank if you get the money in by 3 it still gets paid and you dont get charged :)

EightiesChick · 04/08/2011 08:44

There is a cut off of 3/3.30 but I woul try complaining about the charges and see if it gets you anywhere.

Not your situation, but in one of his books Jon Ronson says he was told that the whole 3-day clearing time, for when you are transferring funds electronically (rather than actual cash as in your sitch) is actually totally unnecessary now, as in our digital age everything is transferred in a nanosecond, but the banks continue to enforce the 3-day rule as it earns them more in interest/fees. What a bunch of ripoff merchants they are.

EightiesChick · 04/08/2011 08:45

To be fair my bank now texts me to say I am over my limit and to pay money in by 3.30 if I want to avoid charges. Useful to know. But you do still have to get it in by 3.30.

TiaMariaandDietCoke · 04/08/2011 08:47

ShutupandDrive is right - if the Direct Debit came out on monday it will have come out 1st thing therefore you would be overdrawn -I'd read your post as if the debit was coming out on Tuesday, in which case you wouldn't be IYSWIM - sorry if I confused the issue!!!!

If it was a monday debit it would still do no harm to go in, ask nicely and hope for the best :)

Original poster
biddysmama · 04/08/2011 08:47

the dd came out tuesday morning, before the bank says the money went in the account

OP posts:
BrandyAlexander · 04/08/2011 08:53

Next time, I would suggest you do online electronic transfer instead of branch. Takes 2 hours with my bank.

BrandyAlexander · 04/08/2011 08:53

Next time, I would suggest you do online electronic transfer instead of branch. Takes 2 hours with my bank.

crazygracieuk · 04/08/2011 08:54

3:48pm is too late for most banks to count it as a credit on that day (even for cash) Archaic but true.

Shutupanddrive · 04/08/2011 08:59

If the dd went out tues then you should not be overdrawn as you put cash in on Monday! So yes complain!

Seona1973 · 04/08/2011 09:01

LTSB adds it to the balance as soon as you pay it in. I would query the charges especially if the direct debit shows as being claimed on the same day as the cash went in (take the receipt showing you paid the cash in on the Monday prior to the DD being claimed)

CHOOGIRL · 04/08/2011 09:02

Op. You need to have cleared funds 3.30 the day before any standing orders/direct debits are due so yes YABU

TiaMariaandDietCoke · 04/08/2011 09:03

Ahh, so it was tuesday debit then - you should check the terms and conditions of your bank - I just did a quick check on Alliance + Leicester - theirs make it very clear Where there are multiple daily transactions, credits will be applied to your account before debits. - see here www.alliance-leicestercommercialbank.co.uk/static/Important_Changes.pdf.

Hope that helps!

CogitoErgoSometimes · 04/08/2011 09:04

I'd talk to your bank. There is a sequence of events for deposits and payments and I've been caught before. DDs and money leaving the account are transacted (at my bank at least) first. Payments in seem to be cleared much later in the day. If the payment in hasn't cleared and you don't have an o/d facility then the computer says 'insufficient funds' and there's a charge. If you talk to them however, they should waive any charges because they would be able to see that it was a question of timing rather than absolute lack of funds.

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