Payment bounced? You’ll soon have a second – Money Saving Expert

[Legal Beagles]

If you’ve not enough money in your account and a payment bounces, you may be able to avoid the associated fee as more banks are to adopt a ‘retry’ scheme from September where they’ll attempt to process the transaction again later in the day. via Payment bounced? You’ll soon have a second – Money Saving […]

More...

MoneySavingExpert.com asked the major banks what their policies will be. The results are in the table below.

Early hours	Yes, free text alert system	3pm	£8/day	Two
Early hours	From 10 November	3.30pm	No fee	Two
Just after midnight	Yes, text alert	3.30pm	Up to £10, max 3/day	One/day, for a max of 26 days
Early hours	From 10 November	3.30pm	No fee	Two
Just after midnight	Yes, text alert	3.30pm	Up to £10, max 3/day	One/day, for a max of 26 days
Early hours	Yes, attempts to call twice	3.30pm	No fee	Two
1.30am - 6am	No, text alerts set for future	2.30pm	Up to £15, max £75/mth	Two
Before 7am	Yes, text or email alert	2.30pm	£6, max £60 per 30 days	Three
Before 7am	Yes, text or email alert	2.30pm	£6, max £60 per 30 days	Three
Unable to disclose	Yes, online, by phone	4pm	£10, max £150/mth	Two
Just after midnight	Yes, text alert	3.30pm	Up to £10, max 3/day	One/day, for a max of 26 days
Before 7am	Yes, text or email alert	2.30pm	£6, max £60 per 30 days	Three
(i) Unpaid item fees vary depending on account

[righty]

Re: Payment bounced? You’ll soon have a second – Money Saving Expert

I think Santander banks through Barclays hence it often take them longer to process a cheque which is probably the reason they won't admit the their transaction times

[MIKE770]

Re: Payment bounced? You’ll soon have a second – Money Saving Expert

Nationwide just charged me £15.00 over a charity bounced £4.00 payment and all they say is it is the rules, no phone call etc???

[leclerc]

Re: Payment bounced? You’ll soon have a second – Money Saving Expert

I thought their system already allowed for money being paid in on the same day to cover items going out as that is what appeared to be happening even when I worked in the bank, ie that you could change the response to the cheque from being unpaid to being paid. They have obviously spent 5 years working out how to automate the process......and they think that this is how to make us love the banks.......

[dogtired]

Re: Payment bounced? You’ll soon have a second – Money Saving Expert

Had arguments with Natwest, when I get our statement it has the pre advice regarding chatges, ok so far but its the way they do this thats annoying.
Say, for instace this month it is down as the 29th, which is a Friday, yet to see if it is showing on Friday am.
Twice now I have been potentially charged as they do not take it out first thing on the due date but overnight that evening.
But it shows on your statement as going out on the date they say ( if that makes sense)
Twice had " act now" alerts and been able to pay money across but have twice been charged as the " system" sees that payment as being late.
I did get the charges reversed but very reluctently.
I did complain but no real result it was just how the " system" works. :tinysmile_aha_t: