FNB debit orders going off early this month?

[Jet-Fighter7700]

So I noticed something odd yesterday,

apparently FNB decided to have all my Debit orders for CC go off early this month on the 15'th,
I get that many were paid, but not everybody has been,

is it something they do to prevent people spending all their money before the end of the month, and seeing all the declined transactions?
or is there some other reason they do it that way?

 

[marbro]

none of mine have gone off,

however i know as soon as i get money in... the money will be gone



Previous years they did ask before hand if they can change the Debit date

 

[supersunbird]

So I noticed something odd yesterday,

apparently FNB decided to have all my Debit orders for CC go off early this month on the 15'th,
I get that many were paid, but not everybody has been,

is it something they do to prevent people spending all their money before the end of the month, and seeing all the declined transactions?
or is there some other reason they do it that way?

That's why a keep my Capitec account used for debit orders clear of money except around month end/beginning. As soon as last DO goes off it gets emptied again.

 

[Jet-Fighter7700]

Previous years they did ask before hand if they can change the Debit date

when I spoke to the agent, said they notified me.
didnt get any notification, much like when they FICA'd my account and froze it unexpectedly.
FNB, how can we help you? by NOT doing things without my consent/awareness

 

[powermzii]

Its a debt / debit protection measure as you say so that people don't miss their payments due to ke dezember...

 

[R13...]

Many companies do this.
Sanlam apparently took on the 12th after telling people they'd take on the 15th. Sounds scaly. They should give people the chance to accept it or not.

 

[Wut]

That's why a keep my Capitec account used for debit orders clear of money except around month end/beginning. As soon as last DO goes off it gets emptied again.

Don't you get charged a fee if a debit order fails due to lack of funds?

 

[zerocool2009]

You can check via NAV money on the app debit orders scheduled 3 days in advanced

 

[supersunbird]

Don't you get charged a fee if a debit order fails due to lack of funds?

Yeah, R5 (unlike the other banks which charge way more). Can't even buy a Kingleys 500ml cola with R5. But if the provider didn't arrange an earlier debit order with me than our agreed contract, they can go fly a kite.

 

[Foxhound5366]

Capitec took their pound of flesh as soon as my salary landed. As I understand it, it's special debit orders that get triggered the second your salary is paid into your account ... even if it's early.

 

[Jet-Fighter7700]

Capitec took their pound of flesh as soon as my salary landed. As I understand it, it's special debit orders that get triggered the second your salary is paid into your account ... even if it's early.

problem comes when you still haven't gotten paid even now,
but the debit orders go off without you even knowing about it.

 

[Quicks]

Makes no difference to me if they take sooner, will have to be paid sooner or later. Now you can relax all bills paid and get drunk for the rest of December without worrying about account not paid.

 

[supersunbird]

problem comes when you still haven't gotten paid even now,
but the debit orders go off without you even knowing about it.

Yeah, that sucks a lot. I am only getting paid on the 30th or 31st.

Solution to prevent it from happening again, put monthly spending money in another account or bank.

 

[Jet-Fighter7700]

Solution to prevent it from happening again, put monthly spending money in another account or bank.

what do you suggest? Tymebank, or bank zero?
not a fan of Capitec, or Bidvest.

 

[supersunbird]

what do you suggest? Tymebank, or bank zero?
not a fan of Capitec, or Bidvest.

Neither of those as neither can accept or do Instant ETFs

What type of FNB account do you have? Say you have Gold, you can open an Easy account and get a card for that account and put your monthly spending money in there.

Otherwise Capitec, you don't have to be a fan to use them.

 

[Stefan.dl]

This is nothing new, they have been doing it for years as has most banks actually.

 

[longboy]

So I noticed something odd yesterday,

apparently FNB decided to have all my Debit orders for CC go off early this month on the 15'th,
I get that many were paid, but not everybody has been,

is it something they do to prevent people spending all their money before the end of the month, and seeing all the declined transactions?
or is there some other reason they do it that way?

I got an e-mail from FrogNaaiersBank stating that they will start debit order runs early if I do not reply. I replied and stated that "You are issuing an ultimatum and causing me to waste my time, so I will be moving my investments away".

 

[F1 Fan]

There were a few publications on this in the news, but I don't remember getting any comms.

I moved money into my cheque account for debit orders just in case. Don't plan on spending my leave querying missed debit order charges.

They do it every year, and while they should be way better communication and opt out's, I understand why it's needed.

 

[Jet-Fighter7700]

Neither of those as neither can accept or do Instant ETFs

What type of FNB account do you have? Say you have Gold, you can open an Easy account and get a card for that account and put your monthly spending money in there.

Otherwise Capitec, you don't have to be a fan to use them.

yip Gold,
will think about your suggestion,

as I fail to see the point of opening another FNB account just for spending money to be placed in.
as for instant EFT, dont use it, and if I do will simply use the FNB for that,

if anything I think Tymebank will be a nice additional account to go with.

 

[shooter_za]

This has never happened to me at FNB (debit order dates being auto adjusted). Why does it happen to some people and not others? Maybe it's because I keep my cheque account empty? Maybe because I've never had a debit order bounce? I think it's ridiculous that a bank would do this.