@coopbankuk_help Unfair bank charges

[LilacDaffodil]

Today I received an automated call to say that a standing order had bounced.

 

My salary went into my account around 1am this morning, and over £1000 of standing orders were paid without any problem, however they have bounced 1 SO for £50 to my son's account. To add insult to injury, I changed the SO they have bounced using internet banking 2 weeks ago so that it would not be paid in December, but recommenced in January, so they should never have tried to make the payment today anyway! I know I definitely cancelled the original SO and set up a new one payable from 05/01/13 until 05/07/13. I checked and double-checked that the change was showing after I made the change.

 

Despite being on the phone to them for half an hour they insist that the SO is still set up to go out today and I am going to be charged £15 for bouncing the SO.

 

They have paid all my SO's every month on the 5th of every previous month, (my pay day), without any problems since I opened the account, including the one they bounced today. Their justification is that 'it's in the small print that the money for any SO must be in the account the day before the SO is due to go out'. I have never seen or been made aware of this clause. The Co-op have never bounced any other SO before even though they all go out the same day my wages go into my account. They allowed over £1000 worth of other SO's to be paid today, how can they set this precedent and still justify this charge?

 

:-x

[Queens_king]

Hi

 

I bank with the Coop and that is correct, the cleared funds for Direct Debits and Standing Orders must be in your account by midnight before they become payable (that is midnight tonight for payment tomorrow). You should have received a letter from the Coop telling you about this along with a statement around 18 months ago.

 

By paying your standing orders like they have they are taking a risk that your cleared funds will be available.

[LilacDaffodil]

except they should not have tried to make this particular payment until 5th January 2013...