FNB debit orders going off early this month?

eg2505 said:
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?
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yip ... student loan went off the second my early December pay hit the account ... then a couple others went off a day later
 
This is also discussed here:

Early December debit orders - is it legal? (capetalk.co.za)

Apparently you give consent to it, which is hidden in the fine print.

"A lot of debit orders we sign have a little clause that many people maybe don't read, that I or we agree that the first payment instruction will be issued on whatever date, and thereafter regularly according to the agreement - except in December in which case the debit may go off on a particular date."
 
They had an interview with the Banking Ombudsman on SABC this morning. Early debit orders are against the law unless you signed consent.
 
ToxicBunny said:
And most people signed consent for it in the contracts... They just don't bother to read the contracts.
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The problem is - these contracts are literally pages long... Imagine you have to read one with every single debit order...
 
Foxhound5366 said:
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.
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NADEO Track is what I see with debit orders that are tracked.

Absa statement is the same. Internal credit card debit orders on the usual date has never moved for me in December.
 
Drifter said:
They had an interview with the Banking Ombudsman on SABC this morning. Early debit orders are against the law unless you signed consent.
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Exactly! hence why reputable companies haven't done it. None of mine was moved for this month. 1st of Jan will be business as usual.
 
xrapidx said:
The problem is - these contracts are literally pages long... Imagine you have to read one with every single debit order...
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Oh I 100% agree... But generally these changes are covered by the contracts... So the bank isn't at fault and the company is within their rights via the contract.
 
I have 3 debit orders that go off on my account:

Life Insurance
Car Insurance
Virgin Active

The rest I pay myself on/before the due date.
 
I dont know what the issue is. This happens yearly! 3rd party’s see this if you spend and have no money for debit orders for the next month.

If you owe sars, they pull it by default (lol)
 
The reason for this, clients already spend their salaries... crying to the bank for loans / to clear bond processing quicker (as in to have the available % of their debit order to be borrowed against)

Mense kan regtig ook nie net leer nie! Full stop
 
zerocool2009 said:
The reason for this, clients already spend their salaries... crying to the bank for loans / to clear bond processing quicker (as in to have the available % of their debit order to be borrowed against)

Mense kan regtig ook nie net leer nie! Full stop
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Easy solutions, just do it to those that have shown they can't handle it, If someone has never missed a payment, then exclude them from that list.
 
bwana said:
Surely it's not FNB but the companies involved? My next upcoming payment is on the 31st.
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FNB does it for loans and credit cards too. I pay my loan account bi-monthly on the 1st and 15th and noticed they put the debit orders through on the 15th and then another one on the 21st this month. Also had my credit card's minimum payment go off on the 21st where it normally goes off at the end of the month.
 
Norrad said:
FNB does it for loans and credit cards too. I pay my loan account bi-monthly on the 1st and 15th and noticed they put the debit orders through on the 15th and then another one on the 21st this month. Also had my credit card's minimum payment go off on the 21st where it normally goes off at the end of the month.
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With endless communication, who is to blame?
 
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