So sick of banks have they turned into post offices

the optimist

What is going on? My bank is taking out direct debits days before they are due. Bouncing them back an hour before wages are in. Charging ten euro for the pleasure. Not clearing wages cheques straight away, taking a week to clear. I am sick of trying to keep up with them. Why are they getting away with this. When I complained I got the reply if funds are not there the direct debits wont clear... Aaaarggh anyone else experience this. (6 months ago they always let them thru) Its like they are waiting to claim charges

tenchi-fan

the optimist wrote: »

What is going on? My bank is taking out direct debits days before they are due. Bouncing them back an hour before wages are in. Charging ten euro for the pleasure. Not clearing wages cheques straight away, taking a week to clear. I am sick of trying to keep up with them. Why are they getting away with this. When I complained I got the reply if funds are not there the direct debits wont clear... Aaaarggh anyone else experience this. (6 months ago they always let them thru) Its like they are waiting to claim charges

wage cheques won't clear straight away unless you tell the teller in the bank they are wage cheques.

the DD instruction is sent a few days before the money comes out of the account.. weekends and bank holidays might also affect the date the DD comes out

Get a €500 overdraft facility on your account

zig

im having similar issues, not quite as bad, but theres still alot of inconsistency going on.
Good example recently was that my insurance DD was taken out, usually id be given at least a day to react to it, if not more, if it went below the 0 whereas the last time it instantly bounced, costing 10 for the return of the DD and 5 for going below 0, I then got charged 15 by the insurance company for the bounce(not bank related I know), which meant what should have been a 40 euro payment ended up costing me 70 euro.

I learned my lesson, just make sure you have enough in your account all the time days and days prior to when you expect it to be taken out.

Gumbo

tenchi-fan wrote: »

Get a €500 overdraft facility on your account

+1
get a 500e overdraft on your account to cover you for little things like this.
happened me before xmas, mortgage requested on Wed, wages went in Thurs so nothing there.

AIB charged me for not having enough funds to cover a DD, then Bank Of Scotland charged me for a missed DD :mad:

ended up cancelling all my DD and i now transfer the funds myself online on payday.

whiteonion

I never use direct debit myself because I feel like I lose control of my money. Perhaps you should stop the direct debit and pay bills as they come?

tenchi-fan

whiteonion wrote: »

I never use direct debit myself because I feel like I lose control of my money. Perhaps you should stop the direct debit and pay bills as they come?

That's a nice idea, unless you or a family member get really sick a few days before your bills are due & paying bills isn't a priority.
A much better idea is get all your DDs to leave your account on the same day, rather than random days during the month.

sceptre

Moved to Banking & Insurance & Pensions from Irish Economy.

the optimist

tenchi-fan wrote: »

wage cheques won't clear straight away unless you tell the teller in the bank they are wage cheques.

the DD instruction is sent a few days before the money comes out of the account.. weekends and bank holidays might also affect the date the DD comes out

Get a €500 overdraft facility on your account

I have told the teller that it is a wage cheque and she still refused to clear the funds.
The DD instruction is coming out on different dates each month
I dont want an overdraft on the account. I am just frustrated that they pull DDs even if they are 10 euro short and then charge 10 euro in charges.
I am looking into changing back to the postoffice book. The last time I used it was 2002. And cancelling all direct debits and paying thru postoffice.

the optimist

Sorry I meant she refused to clear funds straight away and wanted a week to clear.

Toboldlygo

the optimist wrote: »

I have told the teller that it is a wage cheque and she still refused to clear the funds.
The DD instruction is coming out on different dates each month
I dont want an overdraft on the account. I am just frustrated that they pull DDs even if they are 10 euro short and then charge 10 euro in charges.
I am looking into changing back to the postoffice book. The last time I used it was 2002. And cancelling all direct debits and paying thru postoffice.

Wages cheques don't clear any quicker than other cheques which take at least 2 days Monday to Wednesday and 4 days Thursday to Friday (allowing for weekends!).

The collection of Direct Debits is controlled by the company collecting the payments so you need to speak to them about the date they will collect the payment from your bank. AND you will need to make sure that you have the funds in your account when the DD will be collected. If the company 'pulling the DDs' do so on different dates, it is not the fault of your bank. Stop blaming your bank for everything!!!!:rolleyes:

inforfun

My salary will be on my account on the last day of the month latest.

So i have set up "all" my DD's between the 5th and the 20th of the month. That way there will always be enough money.
Now these are DD's that will never turn into big amounts. Potential big payments, car insurance for example, i will not DD so i have the choice where to pay this from.

the optimist

Just switched over to ptsb and they are clearing my wages cheques on the same day. It was aib that was refusing to clear regular wages cheques. All ptsb wanted was a copy of my wage slip. I have changed all direct debits on days to suit. I had this account already in joint names with my husband and so I am using them now for all my banking. Just thought I would let you know aib take 4 days to clear it and Ptsb clear wages cheques straight away if you have an account with them

TonyInch

tenchi-fan wrote: »

wage cheques won't clear straight away unless you tell the teller in the bank they are wage cheques.

the DD instruction is sent a few days before the money comes out of the account.. weekends and bank holidays might also affect the date the DD comes out

Get a €500 overdraft facility on your account

I applied for a much lower overdraft amount as this was happening to me for silly amounts incurring 7 to 10euro penalty fees.AIB refused my application because I had missed these direct debits.I explained that was the reason I wanted overdraft! Women in branch said computer decided and application process wouldn't even begin with missed direct debits.I wouldn't get overdraft until there was no missed payments for a year!Moved to PTSB also

marywary

You should check with ptsb that you are not going to be charged 'uncleared interest' on the wages cheques that you cash. All cheques, no matter where they are lodged, have to go through the clearing cycle. If you cash a cheque in ptsb drawn on boi, even though ptsb have allowed you to cash it, they have not cleared the cheque, this can only be done by boi who ultimately pay the amount of the cheque over to ptsb. this can take up to 4 days depending on each of the different banks. Check with ptsb that you won't be charged interest at some later date.

Rebel1977

Can employer not lodge wages electronically to your account as it clears straight away then. Only way u can 'clear' wage cheque is if you cash the cheque and lodge the cash to your account but if your account is AIB and cheque is e.g. BOI you cant cash it have to lodge it