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Watch out for fees for non payment on direct debit

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  • 14-10-2008 6:05pm
    #1
    joannekeeenan
    Registered Users Posts: 1 ✭


    Has anyone else noticed all the charges you get if your account is overdrawn and you have direct debits. I got charged €10 per direct debit and then the companies all started charging me between €5 and €10 per direct debit!!! And all because my salary payment was late.

    Word of warning - change all your direct debits to a date well afther the start of the month !:rolleyes:


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    #2
    brian_ire
    Registered Users Posts: 246 ✭✭brian_ire


    joannekeeenan wrote: »
    Has anyone else noticed all the charges you get if your account is overdrawn and you have direct debits. I got charged €10 per direct debit and then the companies all started charging me between €5 and €10 per direct debit!!! And all because my salary payment was late.

    Word of warning - change all your direct debits to a date well afther the start of the month !:rolleyes:

    ... or apply for an overdraft, problem solved!


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    #3
    redroar1942
    Closed Accounts Posts: 388 ✭✭redroar1942


    I prefer the OP's option of changing you DD dates. The majority of overdrafts are unessecary and you are just giving the banks further oppurtunity to shaft you.


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    #4
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    redroar1942 wrote: »
    I prefer the OP's option of changing you DD dates. The majority of overdrafts are unessecary and you are just giving the banks further oppurtunity to shaft you.

    Absolutely, I fully agree with you :rolleyes:

    The bank doesn't control how and when a person's salary gets paid. To the OP, you'd hardly expect the bank to pay your D/D if you have no money in the a/c? (they might pay it the first time but not on an ongoing basis) and you'd hardly expect the bank not to charge either considering there goes a considerable amount of manual labour and signing off on each and every D/D that has to be returned or accepted if there's not funds to meet same.


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    #5
    Tanabe
    Closed Accounts Posts: 594 ✭✭✭Tanabe


    stepbar wrote: »
    Absolutely, I fully agree with you :rolleyes:

    The bank doesn't control how and when a person's salary gets paid. To the OP, you'd hardly expect the bank to pay your D/D if you have no money in the a/c? (they might pay it the first time but not on an ongoing basis) and you'd hardly expect the bank not to charge either considering there goes a considerable amount of manual labour and signing off on each and every D/D that has to be returned or accepted if there's not funds to meet same.

    Manual labour in a bank??? Are you totally extracting the Michael mate?? Or referring to a spanish transition student that just worked there for the summer? 'Signing Off' my arse, if that's manual labour you have yet to know what the meaning of work is FFS.

    A message to OP: NEVER AGREE TO D/D....IT'S ONLY AN EXCUSE FOR THE BANK TO RAPE YOU REPEATEDLY.

    Emanuel Labourous.


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    #6
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Tanabe wrote: »
    Manual labour in a bank??? Are you totally extracting the Michael mate?? Or referring to a spanish transition student that just worked there for the summer? 'Signing Off' my arse, if that's manual labour you have yet to know what the meaning of work is FFS.

    A message to OP: NEVER AGREE TO D/D....IT'S ONLY AN EXCUSE FOR THE BANK TO RAPE YOU REPEATEDLY.

    Emanuel Labourous.

    And what would you know about anything?


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    #7
    aphex™
    Closed Accounts Posts: 2,338 ✭✭✭aphex™


    joannekeeenan wrote: »
    was late.

    Word of warning - change all your direct debits to a date well afther the start of the month !:rolleyes:

    It also goes on your credit record at the Irish Credit Bureau that you missed the DD payment AFAIK.

    To reitterate, never sign up for direct debit.


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    #8
    kaiser sauze
    Registered Users Posts: 1,558 ✭✭✭kaiser sauze


    aphex™ wrote: »
    It also goes on your credit record at the Irish Credit Bureau that you missed the DD payment AFAIK.

    To reitterate, never sign up for direct debit.

    I absolutely agree.

    Many times I have been grateful that I do things this way.


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    #9
    Rockshamrover
    Registered Users Posts: 1,472 ✭✭✭Rockshamrover


    The Banks make money on your unpaid direct debit from you and from the company that tried to get the payment. Ie Eircom try to get payment, not enough there. BOI charge you a tenner and Eircom get charged also (dont know how much). This is all done automatically, no little people slaving away by candle light.

    The OPs suggestion of changing your dates is a good one, most companies can debit your account on a date that suits you.


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    #10
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Rockshamrover wrote: »
    The Banks make money on your unpaid direct debit from you and from the company that tried to get the payment. Ie Eircom try to get payment, not enough there. BOI charge you a tenner and Eircom get charged also (dont know how much). This is all done automatically, no little people slaving away by candle light.

    O really? Do you have any knowledge of how a bank works?


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    #11
    Rockshamrover
    Registered Users Posts: 1,472 ✭✭✭Rockshamrover


    Not really, I got the info in my last post from a friend of mine who worked in a bank.


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    #12
    311
    Closed Accounts Posts: 5,332 ✭✭✭311


    Sorry for digging up this oldish thread ,but I'm in a similar prediciment.

    Basically for handiness sake I have a couple of DD's I set up myself ,to automatically transfer money to my own savings account and to someone else in the same branch of my bank.

    I missed a dd on one last week and was charged ten euro. Considering the cost of a bounced check is only €5 to sort ,why would a €50 online direct debit cost a tenner to sort out (internally within the banks own branch) ?


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    #13
    Gordon
    Registered Users Posts: 35,524 ✭✭✭✭Gordon


    fyi, some banks in Britain charge £20 per returned DD/SO/BP. That's 20 UK pounds.


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    #14
    311
    Closed Accounts Posts: 5,332 ✭✭✭311


    Gordon wrote: »
    fyi, some banks in Britain charge £20 per returned DD/SO/BP. That's 20 UK pounds.

    I don't doubt there is higher costs for non payment ,it's just I don't understand why I had to pay ten euro.

    Nobody had to do anything ,it was from one current account to another within their own branch. First time it happened.:(


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    #15
    redroar1942
    Closed Accounts Posts: 388 ✭✭redroar1942


    Gordon wrote: »
    fyi, some banks in Britain charge £20 per returned DD/SO/BP. That's 20 UK pounds.


    Maybe one of the reasons the banks in Britain were worth nationalising and the banks here are just plain screwed.


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    #16
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    redroar1942 wrote: »
    Maybe one of the reasons the banks in Britain were worth nationalising and the banks here are just plain screwed.

    Absolutely :rolleyes:


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    #17
    redroar1942
    Closed Accounts Posts: 388 ✭✭redroar1942


    Well played I was trying to bait you.


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    #18
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    redroar1942 wrote: »
    Well played I was trying to bait you.

    I'm sure :rolleyes: LOL

    If you have nothing constructive to say, then don't say it.


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    #19
    redroar1942
    Closed Accounts Posts: 388 ✭✭redroar1942


    stepbar wrote: »
    I'm sure :rolleyes: LOL

    If you have nothing constructive to say, then don't say it.

    Sometimes its when people get passionate that the real truth comes out.


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    #20
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Don't drag the thread off topic.

    Don't feed the trolls.

    Two basic rules :)


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    #21
    Bottle_of_Smoke
    Registered Users Posts: 9,770 ✭✭✭Bottle_of_Smoke


    Tanabe wrote: »
    Manual labour in a bank??? Are you totally extracting the Michael mate?? Or referring to a spanish transition student that just worked there for the summer? 'Signing Off' my arse, if that's manual labour you have yet to know what the meaning of work is FFS.

    A message to OP: NEVER AGREE TO D/D....IT'S ONLY AN EXCUSE FOR THE BANK TO RAPE YOU REPEATEDLY.

    Emanuel Labourous.

    Manual labour probably the wrong word but having worked in a department of a bank which was responsible for the deciding whether to pay or return direct debits/cheques I can assure you it does require signing off for a majority of cases when returning something for the first time. If these people provided for their payments the bank wouldn't need to pay people like me to do this.

    Why should customers who DO provide for their payments have to pay for these departments?

    I do however have a problem with banks charging the fee when payments are returned automatically by a computerised system.


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    #22
    Bottle_of_Smoke
    Registered Users Posts: 9,770 ✭✭✭Bottle_of_Smoke


    Gordon wrote: »
    fyi, some banks in Britain charge £20 per returned DD/SO/BP. That's 20 UK pounds.

    I know one that charges £35. That's gotta burn


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    #23
    amcalester
    Closed Accounts Posts: 4,121 ✭✭✭amcalester


    direct debits are a great system if you manage your account properly. if a request for a direct debit is received and there is not enough money in the account then someone (the underwriters) would look at the account and decide whether or not to allow the transaction to go through.

    The charge for that was €5 and it was called a referal fee. If the underwriter decided that the dd wouldn't be paid, for whatever reason, there was another charge of €5 and it was an unpaid item charge.

    Most banks dont charge anymore for setting up a direct debit so if you manage you account properly (have all dd's comming out 2-3 days after payday) then the bank won't make any money from you.


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    #24
    homer911
    Registered Users Posts: 5,119 ✭✭✭homer911


    joannekeeenan wrote: »
    Has anyone else noticed all the charges you get if your account is overdrawn and you have direct debits. I got charged €10 per direct debit and then the companies all started charging me between €5 and €10 per direct debit!!! And all because my salary payment was late.

    Word of warning - change all your direct debits to a date well after the start of the month !:rolleyes:

    If your salary was late being credited to your account and you have an agreed contractual date for payment (or can illustrate that you have a defacto contract by reference to previous months payments) then you would be within your rights to seek recompence from your employer. As regards the bank's fees - you signed up to their terms and conditions, it doesnt matter what it costs them to process the transaction.

    BTW, I got stung like this recently while availing of "free" banking. First I got the Rej. DD charge, then I got hit with bank charges for the quarter - expensive for missing a date by one day! - again, T's & C's.


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