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Direct debit taken 4 days in advance

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  • 29-05-2015 10:53pm
    #1
    HeidiHeidi
    Registered Users Posts: 29,346 ✭✭✭✭


    Can anyone explain to me how my bank can authorise a direct debit to be taken four whole days in advance?

    Just checked my pTSB account now, and a DD dated 2nd June (Tuesday) has been withdrawn from my account.

    I know it's a bank holiday weekend but this is ridiculous. There's a whole raft of DDs due out of my current account at the start of the month, and if they all get paid four days in advance I could easily be knocked into overdraft.

    There's money due into the account on 1st of every month to cover these, but funnily enough it often arrives late when there's a bank holiday in the mix.

    I fecking hate banks :mad:


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    #2
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    After 5pm, the banking day is over and the next banking day is in effect. The next banking day after today is the 2nd so the funds were taken. Sucks but there you have it. If you often experience delays in credits in around bank holidays, you should plan for the possibility of DDs coming out 'early' around Bhols.


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    #3
    piperh
    Registered Users Posts: 989 ✭✭✭piperh


    Nervous Wreck wrote: »
    After 5pm, the banking day is over and the next banking day is in effect. The next banking day after today is the 2nd so the funds were taken. Sucks but there you have it. If you often experience delays in credits in around bank holidays, you should plan for the possibility of DDs coming out 'early' around Bhols.

    I had the same situation and had a similar conversation. I get the idea but what is annoying is it is not a clear issue, it seems some dds are processed and not others. Payments are no longer credited early since the introduction of SEPA but debits can be taken early. Makes no sense and I bet bank charges for insufficient funds have increased.


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    #4
    HeidiHeidi
    Registered Users Posts: 29,346 ✭✭✭✭HeidiHeidi


    I bet they have.

    And meantime, all of the four-figure sum which I'm waiting on to cover the DDs, plus the four-figure sum which has now been taken in DDs early, are in cyberspace for up to four days, presumably earning nice interest for the bank.

    Multiply that out nationwide, and it's a nice little earner - but never for the customer funnily enough.


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    #5
    Ciarrai76
    Moderators, Recreation & Hobbies Moderators, Regional South Moderators Posts: 9,367 Mod ✭✭✭✭Ciarrai76


    not come across this with AIB thankfully. In my experience if a DD was due out on a date that fell on a weekend or bank holiday, it came out the next working day. I would be livid if it came out early!


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