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Spending against 'available' balance. Watch

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    My student loan money is showing up on my bank account so I've just made a couple of online payments which are due next week before realising that on my bank account the student loan is dated with tomorrows date. Will this be a problem? I am now a bit worried that the payment will show as coming out before the student loan officially goes in and I'll be charged for going overdrawn or something.

    Also, I was going to do some food shopping later, is it better to wait until after everything has properly gone in and out of the bank? I have budgeted for it so won't go overdrawn as long as the student loan does go properly in before anything else comes out.
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    No, the payments if they're made by card won't come off your main balance for 3 working days just off you available balance. Always work off your available balance.

    Just make a quick list to make sure there are no more direct debits that may come out and if its ok just buy the essentials until available is the same as actual! Also for regular payments don't give your card details as the payments dates can be whenever they like, always dd or so instead.

    Always try to avoid spending money before its in your hand


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    (Original post by joey81)
    No, the payments if they're made by card won't come off your main balance for 3 working days just off you available balance. Always work off your available balance.

    Just make a quick list to make sure there are no more direct debits that may come out and if its ok just buy the essentials until available is the same as actual! Also for regular payments don't give your card details as the payments dates can be whenever they like, always dd or so instead.

    Always try to avoid spending money before its in your hand


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    Thank-you.
 
 
 
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