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Direct Debit Question?

Discussion in 'General Discussion' started by Princey, 29 May 2006.

  1. Princey

    Soldato

    Joined: 26 Apr 2003

    Posts: 5,608

    Location: Staffordshire

    I am currently paying my insurance in installments and the payment comes out on the 2nd of each month. Is it possible to change the date the payments comes out? Do I contact the bank or the insurance company? Also will there be a charge?
     
  2. Kreeeee

    Man of Honour

    Joined: 13 Jul 2004

    Posts: 42,552

    Location: /* */

    Contact your bank to change standing orders, there is no charge.
     
  3. Princey

    Soldato

    Joined: 26 Apr 2003

    Posts: 5,608

    Location: Staffordshire

    Cheers mate.

    EDIT: Any idea on how much notice I would have to give?
     
  4. bigred

    Wise Guy

    Joined: 26 Oct 2003

    Posts: 1,107

    Thats for standing orders, rather than Direct Debits. Standing Orders are setup so a sum goes from one account to another every set time period, DD's are authorised then a company can request payment directly from your account on an agreed date.

    Your insurance company may be able to change the date (who then inform your bank of the changes), although the organisation I used to work for didn't offer the option of changing payment dates as it cost them more to process direct debits around the start of each month when theres more DD's being processed. Around the 21st of each month is the cheapest for companies to process DD's IIRC.

    So... in theory it's possible, but depends on the company your dealing with.


    Alex
     
  5. Rotty

    Don

    Joined: 18 Oct 2002

    Posts: 40,585

    Location: Notts

    if its a standing order contact the bank , for dd then contact the people who recieve the money
     
  6. McDaniel

    Capodecina

    Joined: 15 Aug 2003

    Posts: 19,872

    Location: Southend-on-Sea

    was just about to answer, but Rotty got it :D