Natwest taking money early...

[ben13]

Checked my online banking to find theat we are now £38 overdrawn.

We have a standing order for £40 which goes out on the 28th of the month, however for reasons unbeknown to us Natwest have (yet again) ssen fit to take the money early.
Its not the first time they've done this.
When I've rang them in the past they say its because the payment is due on a weekend yet thats not the case.

Natwest have done this several times allowing our mortgage payment to go out early and end up leaving us with no money as it puts us in the red even though we dont have an overdraft facility.

Is there any way we can stop Natwest doing this as it ends up costing us in one way or another for a mistake they are happy to keep on repeating.

[WendyB]

Re: Natwest taking money early...

Ben, the 28th is Monday. If something is due out on a Monday it always shows as going out on the Saturday, likewise if money is due in on a Monday it will show in your account and be available for drawing on the Saturday. I know this cos I also bank with Natwest, OH wages are due on Monday 28th but are available in my bank today. The date showing online is 28th though, not today, 26th.

Stupid question, but would it make a difference? If there's not enough money to pay it today, there isn't going to be enough to pay it on Monday, is there?

Also, with standing orders, I believe it depends on how you set them up. My wages are paid by standing order, (due 27th) and if it falls on a weekend or bank holiday it gets actioned late rather than early. My wages being due tomorrow, 27th, are ationed late, for 28th, but are available in my account today, 26th, although showing as 28th.

[ben13]

Re: Natwest taking money early...

I get paid on 28th too but my wages aint there yet.
Its always the same. The take without a second thought yet they dont like to give without a fight.
So yes there would be money there on monday as my wages will be there.

[leclerc]

Re: Natwest taking money early...

I get paid on 28th too but my wages aint there yet.
Its always the same. The take without a second thought yet they dont like to give without a fight.
So yes there would be money there on monday as my wages will be there.

So there will be no problem with the payment then.

[ben13]

Re: Natwest taking money early...

Of course there will be a problem. They've already taken out the £40 and put us £38 in the red.

Now as usual we'll get charged £5 for something that they have done!!!

They always take money due on 28th early yet never show my wages early which are paid on the 28th and then have the nerve to charge me a fiver for the privelege of them doing this.

[leclerc]

Re: Natwest taking money early...

Of course there will be a problem. They've already taken out the £40 and put us £38 in the red.

Now as usual we'll get charged £5 for something that they have done!!!

They always take money due on 28th early yet never show my wages early which are paid on the 28th and then have the nerve to charge me a fiver for the privelege of them doing this.

Ben13, you need to read the terms and conditions of your account cos this thread would not exist if you had cos, so far, that's wrong, and wendyb has already explained in post 2 how the system works.

[ben13]

Re: Natwest taking money early...

I appreciate what your saying but the fact is they are taking money early but NOT putting my wages in early like they are doing for wendy.

So explain how they can do it for some but not others?

[leclerc]

Re: Natwest taking money early...

I appreciate what your saying but the fact is they are taking money early but NOT putting my wages in early like they are doing for wendy.

So explain how they can do it for some but not others?

Because your firm have not decided to pay you yet. I suspect it is being done via Faster Payments so that means they didn't process it through BACs which is 3 working days. If it was then it would most definitely show up today.

[ben13]

Re: Natwest taking money early...

Well they have paid us! So whats the difference between faster payments and BAC's???

surely if wages are done via faster payments they should be in the bank before BAC's payments???

[leclerc]

Re: Natwest taking money early...

Well they have paid us! So whats the difference between faster payments and BAC's???
3 days
surely if wages are done via faster payments they should be in the bank before BAC's payments???

Most payroll systems work on BACs system or 3 days.

[ben13]

Re: Natwest taking money early...

My account used to work the same as WendyB's. Thats why I confused!

As far as i know nothing has changed yet the bank take money early, charge us for the privelege and put wages in late... WTF is that all about?

[leclerc]

Re: Natwest taking money early...

My account used to work the same as WendyB's. Thats why I confused!

As far as i know nothing has changed yet the bank take money early, charge us for the privelege and put wages in late... WTF is that all about?

Since the bank went over to real time banking ie 2001-02 saturday has worked the same. In fact, it will be 10 years since NatWest/RBS computer system amalgamated in October. Some banks DO NOT work the same, for example, LloydsTSB update their systems later than Friday night/Saturday morning, however NatWest update with all payments due in via BACs, ie benefit payments, etc, etc and any payments due out on the Monday. They DO NOT charge you for Saturday and Sunday if money is paid in on Monday(that has been the case for the last few years providing it is by 3:30pm---which I believe has now changed).

"Please note: we will only charge an Unarranged
Overdraft Fee for a non-business day (i.e. a Saturday,
Sunday or Bank Holiday) if there is an unarranged
overdraft of greater than £6 owing on your account at
close of business on the first following business day."

If the money is not received by the close of business on Monday then fees are payable according to their own leaflet. I would ask your boss how they pay you cos when I get paid into a non natwest account and it falls on a Monday then I have to wait for the money unlike NatWest.

[WendyB]

Re: Natwest taking money early...

My wages are paid standing order from a Natwest account to my Natwest account. Don't know who my OH's firm bank with, but his wages always show uo on the Saturdayif they are due on a Monday.

My wages from Ladbrokes are paid into my LTSB account, if they are due on a Monday sometimes they are available on the Saturday, sometimes not.

Ben, although the money has gone out today, it won't show as today's date, it will show as Monday. As long as your wages go in on Monday there shouldn't be a problem.

Why not change the standing order date to 29th, then it will never go out before your wages go in on 28th, will it?