Confused about bank transactions

[milly143]

I've just looked at my account online and 2 direct debits show on there as going out on 07/02/11. Today is 05/02/11. Now, if Monday (being 7th) was not a working day then I could understand but why have these amounts gone out today (I know it wasn't yesterday as I check it every day) when they should have gone on Monday?

[factor-fiction]

I know I'm repeating myself but I still think it's not available because they have earmarked it knowing that there is no time for you to pay any other funds in to cover it.
I'm still not clear what you meant when you said "...show on there as going out on 07/02/11". If it is adted 7/2/11 it means they won't take it from your account until first thing Monday.

[tigwig]

Well whether the money has actually left the account or not the fact is milly says its not available for her to withdraw. So it could be earmarked to go out but she still cant get it! It is wrong milly and would annoy me too except I have a £2500 overdraft on my account. God knows why as I never use it. I would query it with the bank.

[factor-fiction]

Maybe I am missing something here but I thought my explanantion was clear. It looks as if the funds are not available because they are needed so the DD can be paid and there is no time available to pay in any other money. The money will actually be taken on Monday.
Isn't the bank actually being helpful by showing that the money is not available?

Milly- is the withdrawal actually dated as 7th February which is what your question said?

[ABerrant]

tigwig - It would annoy you that you were unable to spend funds being held for Monday's DD payments.

In comparison, how annoyed would you be if you spent that money, the DDs failed due to insufficient funds and as a consequence your car insurance was voided?

milly143 - "available balance" is not the same as "account balance". The money has not left your account (e.g. interest still accrues on the full account balance) but you cannot access more than "available" because the extra bit is on hold for transactions you have authorised or deposits which have yet to clear. Perhaps you should check on your bank's website for a glossary of terms and let them explain "available balance".

[tigwig]

Erm ABerrant I said it would annoy me in sympathy to milly. It has never happened to me and never will do so I've no idea why you are having a go at me.
I fully understand the situation but am agreeing with milly when she says she should have the right to spend her money on the Saturday then replace it on the Sunday.

[factor-fiction]

Hi tigwig... if she had the funds to replace ithe money on Saturday and the bank accepted the money immediately then the available balance would increase, so there wouldn't be a problem.

[ABerrant]

Which banks are open on Sunday?

[milly143]

Sorry, have been off here the rest of the weekend.

Firstly answer, yes the amounts were showing as being withdrawn on 07/02/11.

Second answer, funds you transfer online go into the account the same day, even if it is a Sunday. I know this to be fact so there is no point arguing against it.

Anyway, I don't suppose any of this really matters now but that for contributions to try and help me.