Ability to order/prioritise transactions happening on the same day

Feedback & Ideas
1

So I have started using the Bills pot to some success recently, but I have found in some instances that if the money going into the pot, and a bill coming out fall on the same day, you may run into some issues.

I noticed this morning that my rent payment (which should come out of my bills pot) was actually paid from my main account before the money for the bills pot was transferred. The full amount for the bills pot was then transferred after, leaving my main account down the value of my rent (in reality, it’s just sitting in my bills pot doing nothing).

I’m not versed in the orders of transactions for direct debits and standing orders, but I assume that income takes priority, debits second and then transfers to pots 3rd. It makes sense, transferring into a pot is likely to be less of a priority than paying a bill etc.

I’d love to be able to actually pick an order or priority for payments coming in and out of my account on the same day. I do this because I like to have most bills paid by the first of the month and then everything remaining is either savings or spending money. This can be difficult sometimes depending on when you get paid.

2

Just playing devil’s advocate here but why do you need to put money aside into a pot for a payment that is happening on the same day as you get paid?

Can’t you just leave the money in your main account and have it taken from there? Then whatever is left you know is yours to spend.

3

It’s not always falling on the same day, and depending on weekends and when I get paid, there is time between then and when my payment comes out.

I’m just using this as an example really, but I figured it might be useful for others potentially for other reasons.

4

I think you’ve identified a very real problem here, but I don’t agree with the solution. I’d much rather the bills pot can identify when this is going to happen and act accordingly.

Yesterday I used get paid early, purely to avoid this being an issue rather than needing my money early.

1 Like
5

I guess for this specific issue the Bills pot figuring it out accordingly would be much more useful.

6

@anon41219820 is probably the guy to answer this.

I’m hoping Direct Credits are processed before Direct Debits on the day. I read somewhere they do multiple batches.

I never have DDs due on the same day as salary, as I always think it could take before it has money available.

7

Direct Credits at 1am and Direct Debits at 2am, on working days :+1:

2 Likes
8

What time are transfers to Pots done?

9

I believe it’s 1:30am for FPS standing orders and 4am for pot transfers.

I think.

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10

I had a similar challenge. In my case I have two S/O’s due on the day I get paid.

One to go into my bills pot
One (my half of the house bills) to my partner which I’d like to go out from the bills pot (for cleanliness)

I can just have two SO’s but for cleanliness wanted all bills to be out of the pot

1 Like
11

Interesting! If there is no solution right now, I’ll see if I can move my payments around to work out a bit better for me.

12

Looking back at my old payday dates, before I started getting paid a day early, my pay would go in anytime between 1.10 and 1.40, how would this work if I had a standing order set up on the same day? Thanks.