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July 2014 – Standing Orders and Future Dated Payments

A reminder about payment of Standing Orders/Direct Debits/Cheques/Future Dated Payments

We make payments from your account shortly after midnight at the start of the due date. If your payment date falls on a non-working day, then we will try to collect your payment the next working day.

If you don’t have enough funds in your account at this point to make a payment, we will try to make a payment again after 3.30pm the same day. This gives you the chance to put extra funds into your account so that we can make the payment. The money needs to be available to use straight away, so you could transfer money from another personal account you have with us via Internet, Mobile or Telephone Banking or pay in cash over the counter in branch.

If you do not have enough funds at the beginning of a day to make a payment:

• You have until 3.30pm to pay money into your account to make the payment that day

• If a payment takes you into any type of overdraft, you have until midnight to pay money into your account to avoid overdraft fees and charges.

Standing Orders and Future Dated Payments

If you don’t have enough funds in your account to pay a standing order after 3.30pm on the day the payment is due, we will continue to make the payment each working day for up to 26 days in total. If we can’t make the payment by the second day after it was due, then we may charge a returned item fee of £10. We will, however, only charge one for each item that isn’t paid, even if we continue to try to make the payment over the 26 days. If we charge a returned item fee then we will write to let you know about the failed payment.

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