Money problems.. OD/ Rent / Banks Closed Watch

plainjayne
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#1
Report Thread starter 12 years ago
#1
Hey i just need a bit of help/ advice

Ok i think i have gone to the limit of my overdraft (its not set at the maxium i can get though) , as the atm said that "your bank wont allow this transaction".

My problem is however tommorrow i have my rent money scheduled to go out of the account, today the banks are closed (bank holiday) so the earliest i can get to speak to the bank and up my overdraft is tomorrow. I am worried by the time i get to the bank it will be too late- my question is will i get charged or anything like that for the money meant to be going out but isent there??

Should i contact my landlord (he is fairly casual so would understand) just to say the rent maybe a day late??

Also with a standing order will the money go out as soon as it is available (sufficient funds in my account)?? or will i have to set up a payment to my landlord again??

thanks everyone
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snu
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Your standing order will probably go out regardless, and put you over your limit resulting in penalty charges.
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plainjayne
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are those going to be much??
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tbm
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It will depend what bank you are with. Im with Natwest and the same thing happened to me whilst I was at uni in my first year- I had about 4 direct debits going out of my account on the same day which I didnt have enough funds for- Natwest charged me £38 (per item) I think
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*Sparkle*
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Ring up your landlord and explain what's going on, go online and cancel the standing order, go the bank tomorrow and extend your overdraft or whatever you were planning on doing, then send your landlord the money.
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plainjayne
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oh good idea thanks
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tbm
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I dont think you can cancel it though? Sometimes you need to give notice that you want to cancel it- i.e. 3 working days or something like that.

You can try it, but I think the money will still go out regardless
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snu
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You need to cancel direct debits before 6pm on the day before I think, not sure about standing orders.

I think you might have left it too late.
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