DD & SO Times


#1

Just curious as I’ve had my current account invite today on how the payment times work ?

Nationwide, currently try early AM and again at 2.30 with a text sent to advise of amount short if you are, with a few hours to get funds added.

The reason I ask is, my wages paid in on 25th but also all my bills are set to same date for DD and a single SO. So wondering if I’ll I need to go down route of changing all DD dates to 26th to give days grace? In case payments in and direct debits are timed the opposite way?

Tried searching everywhere to see if this has been asked already. Apologises if so!


(Ben) #2

My Direct Debits have been going out between 2-3am.


(Kevyn) #3

I had my first direct debits fail as Monzo took them early (as is well known and I forgot) and my pay hadn’t been switched over. I messaged them in app and within minutes they had asked if I wanted to rerun them and I said yes and they turned to deducted.


#4

Thank you, so I’ll think best to change date of any moving over to the account


#5

I’m guessing this is a service they won’t won’t to do manually monthly for everyone?! Prob still best to switch the date?


(Kevyn) #6

When I noticed they had failed (about 8.30am), I contacted support asking whether they had a second time during the direct debit day they retried to debit them and support instantly replied and said they would redo it there and then and asked for confirmation I wanted to do it. They never technically answered my original question as they were doing it straight away.

It is probably better to change it in the long run, but a quick message to support (during opening hours) might be able to clarify things.


(James Murray-Ferris) #7

From what I’ve seen of other people everything takes place at 3am as batch runs


(Liam W) #8

Isn’t it a requirement of the DD rules that banks have to attempt it in the morning, but if there are insufficient funds, they can’t return it until they’ve retried later in the day?

I know the time that banks retry it varies (It’s 1430 for Nationwide, I think 1400 for Barclays). Do we have any idea of what it is for Monzo?

Liam


(Frank) #9

Would be interesting to know if batch credits are always run before batch debits. As you may be waiting for a credit to pay a debit on the same day. I noticed with starling The following:
Direct debit 00:30
Standing order out 01:01
Standing order in 02:01

With this model all my debits would fail if the debits were being paid from the SO credit.

Currently there is no forewarning of a pending credit/debit (that is not card related) though I believe this functionality is in progress.

Seem to be having an issue posting this reply.


(Rika Raybould) #10

I realise this might not be great advice for most but I generally have my standing orders and Direct Debits (where possible) come out around three or four days after pay comes in for this reason. On launching the preview, we processed everything as it was received but around a month ago, moved to processing payments on the “correct” (dependent on the scheme) day so they should now enter or leave in the early hours of the expected days at least. :slightly_smiling_face:

Currently, a lot of the cleanup of unsuccessful Direct Debits is being done by hand by our incredible dedicated Current Account team including (but not limited to) @liamn and @jamesallison. While we’re still in the preview stage, I would highly recommend getting in touch with them through the current account app if you have any problems with scheduled payments.


#11

Thank you for the details :slight_smile:

Just out of curiosity is it likely to be on a timeline somewhere to look into the same day retry process that the “big banks” signed up to last year? As a single bounced direct debit can be a big cost (from the recipient company charging late fees etc)


(Jonathon) #12

I know advice is to get the direct debits set up maybe a few days later, but it would be good to get confirmation what is actually the current processing times (and if there is an automatic second try) and what is the intended processing schedule for the future.

I honestly am very used to direct debits coming out the same day as my pay and it’s already been a hassle changing it all manually (which I expected and was fine with) without doing it again. Putting it plainly I’m very much used to (and prefer massively) waking up on payday with everything automated and sorted and my remaining funds for the month there without having to worry about any bills going out.


(system) #13

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