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Money in vs Money Out

spindizzy · 2011-08-26 19:19:02

If money is due to be paid into an account on the same day as a standing order/direct debit is due will the money in cover the out payment (assuming the figures are appropriate!). Another way of saying it is will the bank look to take standing order money before the money is in the account or at what time in the day does…

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26-08-2011 8:19pm

#1

spindizzy

Banned (with Prison Access) Posts: 104 ✭✭

Join Date: November 2010

Posts: 63

If money is due to be paid into an account on the same day as a standing order/direct debit is due will the money in cover the out payment (assuming the figures are appropriate!). Another way of saying it is will the bank look to take standing order money before the money is in the account or at what time in the day does it get processed?

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#2 26-08-2011 9:00pm
unclebill98

Registered Users Posts: 3,816 ✭✭✭

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Posts: 3632

Depends on bank.

If UB, then cleared funds must be in the account the day before the payment is due otherwise it will not be paid.

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