Royal Bank of Scotland accounts

[MikeZ]

@anon47616136

I don’t see how a faster payment can be pending when the funds are sent/received instantly.

It’s a well-known issue with Nat West and RBS. Transactions don’t seem to settle until some overnight processing has happened. @Seb once gave a good explanation of how it works.

It’s not a display issue - the transaction in Open Banking has the pending flag set.

[Graham]

So there it was, a sedate chat about RBS account features and latterly, statements et al.

Brief reference to Triodos and away we went - came close to shaking hands……but.

Thanks everyone for taking a breath. I’ll move the Triodos posts to their thread just for ease of assimilation later (Ethical banking clearly isn’t going away any time soon ).

I’ll also clear the flags, if you don’t mind. And a bit of mopping up, if I may.

If @Recchan’s post gains any traction in general principle may need a topic for exploring that in its own right. For now, I’ll put it with the Triodos posts.

Now back to Rowan Atkinson’s Maigret….

[Eden]

Does it really matter in the grand scheme of things? I’ve never had an issue with that, though maybe it’ll be improved over time. Is there any use case where it breaks something?

[MikeZ]

@Eden

Does it really matter in the grand scheme of things?

Yes, to me it does. Along with the lack of notifications for all in/out transactions and other annoyances. That’s why it’s not my main account.

[WillPS]

Everyone has different priorities with these things. I’m of the opinion that as long as everything settles up eventually and I’m never left in a tight spot, all’s good, but I know that’s a bit old fashioned.

(That said, Natwest Group’s DIrect Debit implementation has left me in a tight spot in other ways recently.)

[anon47616136]

@WillPS

That said, Natwest Group’s DIrect Debit implementation has left me in a tight spot in other ways recently.

Oh? Interested to hear as I’m considering moving back to NWG accounts as my main.

[Rexx]

You can’t see direct debits until they go out. Sometimes you can the day before in the dd section but sometimes you can’t.

If you want to know whether a dd is set up you can chat them and ask but that’s it

[MikeZ]

@Rexx

If you want to know whether a dd is set up you can chat them and ask but that’s it

That sounds positively medieval!

[WillPS]

@anon47616136

Oh? Interested to hear as I’m considering moving back to NWG accounts as my main.

See this post:

NatWest Bank

What you’re saying is of course true - the problem with DDs is that the payment is already in process a long time before it’s actually payable but the DD Guarantee goes further and specifically states: You can cancel a Direct Debit at any time by simply contacting your bank or building society. Most banks action these requests by cancelling the underlying DD, stopping any payment requests if they are far enough in advance to do so and recalling any payments on the day of payment if it’s too …

On the plus side, I benefitted to the tune of £165 in the end but I don’t trust them with DDs any more; I just have small ones on there now to keep the Rewards coming.

[Recchan]

I wonder if you could get around the DD by proactively telling them to not pay transactions that would violate the DD guarantee if they would require you to make an affirmative defence of such things

Personally I am of the belief that banks should be very acutely aware that I am the ultimate money holder and banking principles 101 is to not involve the bank in contractual disputes or otherwise unless you’re actively party to it (i.e. I didn’t pay NatWest for something and they’re withholding money as a result)

You may also be able to argue that NatWest doesn’t follow their DD principles of “requiring proof” when it comes to their own credit cards as part of an anti-competition claim

[Wilt]

Which is strange because the documentation suggests you have up to 8:20pm on the day to cancel a direct debit, albeit with the potential for some balance weirdness - but it should all be automatic.

It is, of course, all a bit janky - but I have just quickly checked the Lloyds, Monzo and Nationwide help docs and all three seem to suggest that the payment would still go if cancelled on the day of payment (Lloyds is two days), so it looks like NatWest might be an outlier allowing on-the-day cancellation?

[WillPS]

The direct debit guarantee says you can stop payments at any time by contacting your bank.

Lloyds does as you say but then recalls the payment after it has been made.

[Wilt]

Fair enough - I wouldn’t know I’ve never done it, just going by what Lloyds have written on their website.

[Amazon_Parcel]

I have cancelled Paypal and SouthEast water DD from Chase on the night before they are taken and all I got were failed DDs messages from the providers. They said the bank didn’t honour probably because there was no instruction and so didn’t incur any fees.

[Oberoth]

If you cancel the mandate before it debits your account but after they’ve commenced the request then it’s simply returned with a reason of no mandate.

I have a friend who was routinely bouncing D/Ds and I told her that trick to save on bank fees. It worked for a while when she did it occasionally but then she overdid it and the bank cancelled all her D/Ds. She was lucky they didn’t close her account.

[WillPS]

@Oberoth

If you cancel the mandate before it debits your account but after they’ve commenced the request then it’s simply returned with a reason of no mandate.

Not with Natwest Group, it doesn’t.

[mirodo]

@anon47616136

The form loads. Whether the sort code is still there is anyone’s guess

Well, the sort code is still there. I guess we’ll see if it works or not in a few days…

[mirodo]

I’ve just uploaded my proof of ID and e-signed to say I wish to open an account with LONDON CHILD & CO…

[Recchan]

Good luck, 加油！