Just noticed that my council tax payment has been taken from my bank account (it appears on my statement and is taken by DD), the transation is dated 15/9/2008 - but today is only the 13/9/2008 ( A Sat). ie It has been taken fom my account "in advance" so to speak. Is this usual - I never noticed it before?
Regular transactions coming off first thing on Monday morning usually show up on my mini-statement from Friday evening.
Neb
What bank is that?
Clydesdale Bank. I don't have online banking, but their ATM's give a printed mini statement with the last ten transactions. Over the weekend they show direct debits coming off on Monday morning.
Neb
They would also show any automated BACS credit due in on Monday.
You know I thought about that but the only incoming payment I ever receive is my salary and I can't recall it landing on a Monday. We get 12 months worth of pay dates at a time and I'll check them all for this year when I go back to work to see if any of them are/were Mondays.
The direct debits showing for Monday are not a huge issue. I suppose they would limit the amount of cash I could draw from the ATM, but if they make you overdrawn you get until close of play on Monday to rectify the situation with no penalty.
If my pay shows on a Friday night for Monday morning I have a feeling I might be able to draw it out over the weekend - which could be a slight advantage.
Neb
I believe this is now routine in all Natwest accounts. If it is a weekend, and there are payments to be made or received from or into an account on the next working day, they seem to appear "provisionally" in my account.
I think it's only at weekends though. If today is a working day, and so is tomorrow, then everything acts as it has always done.
Reece
There's nothing sinister about this. It is, AIUI, standard banking practice for debits to be processed at the end of the working day, after the day's credits. However, when you get an ATM mini-statement or check your account online, all those transactions which the bank already knows about which are due to be processed that evening, will already be shown "provisionally".
For most purposes weekends and bank holidays count as part of the next banking day, so it's not surprising that where Monday is a holiday, for example, that any transactions due to be processed on Tuesday evening are already visible on the Saturday.
RBS does it this way.
So does SMILE. The date just changes each day until 'next banking day' actually happens, then that becomes the final transaction date. I guess the systems can't cope with the concept of a debit/credit which has actually happened, but has a future date.
"Ronald Raygun" wrote
I guess you could expect that when transactions first appear at midnight. But Neb said that Clydesdale show his Monday transactions on Friday evening; in that case, wouldn't you expect to also see (say) Wednesday's transactions on Tuesday evening?
Yes I would, for some particular value of "evening". What I would actually expect is there to be two instants (which might well be the same) at which Tuesday's provisionals become definite, and Wednesday's knowns appear on the provisional list.
I would expect this instant to be some time after close of business on Tuesday and start of business on Wednesday. This would depend on when exactly they do their processing, and it may well not be at the same time every night. A few moments ago (after 10.30pm but before
11.00pm) today's (Monday's) provisionals were still provisional and there was no sign yet of tomorrow's provisionals (I expect council tax to go tomorrow as it generally goes on the 16th).BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.