sam i am
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Post by sam i am on Oct 2, 2015 14:50:13 GMT
Had a slight issue with BACS deficits and wonder if others have had the same. I wanted to offset a deficit against sales but I couldn't partially offset (well known gripe). I was waiting for a transfer from my bank (made Friday early afternoon) to hit my account to fund the balance which would leave me OK to offset the rest of the deficit. By Tuesday lunchtime my account was still not reconciled. At this point I wanted to make additional purchases which involved making further instant deposits.
By Tuesday afternoon my transfers had been credited. In order to avoid an increasing deficit I asked SS to make the partial offset which they did. I then only had a deficit to the extent of the deposits I'd just made.
Here's the point. When they made the offset it appeared from my transaction report that they did it against the most recent deposits not the most historic. I assume this because my recent deposit transactions just disappeared. So it looked like I hadn't settled the deposits from the week before. I then started getting chasing emails saying that I could lose loan parts and may not get cashback.
Has anyone else encountered this problem? I wonder if this is a system issue in that it doesn't have the functionality to identify deposits chronologically for offset purposes and may be why we are not offered the partial offset feature.
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alan
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Post by alan on Oct 3, 2015 12:28:26 GMT
No, I suggest dropping an email to SS. Too late they already dropped me one. My responese "All my payments are made by Faster Payments and arrive at every account I have tested within a few minutes. So it would help if your system did the same! " Their response yesterday ( Friday) "We do our banking reconciliations once per day in the morning. Our next reconciliation will be tomorrow ( Saturday) morning then on Tuesday." Saturday pm now and no credit yet. A/C marked Not Confirmed. Another email politely reminding me that I may lose cash back. Not impressed! Alan
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 3, 2015 12:44:43 GMT
Too late they already dropped me one. My responese "All my payments are made by Faster Payments and arrive at every account I have tested within a few minutes. So it would help if your system did the same! " Their response yesterday ( Friday) "We do our banking reconciliations once per day in the morning. Our next reconciliation will be tomorrow ( Saturday) morning then on Tuesday." Saturday pm now and no credit yet. A/C marked Not Confirmed. Another email politely reminding me that I may lose cash back. Not impressed! Alan Same here. Finally managed to persuade parents to take the plunge. Made an investment, sent a small sum to match a BACS deficit before 9am yesterday & no sign of it this morning. Emailed SS. Havent received any polite reminders yet though
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alan
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Post by alan on Oct 4, 2015 12:24:33 GMT
Mine too Sat/Sun.
Thanks SS but could be better handled.
Alan
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SteveT
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Post by SteveT on Oct 6, 2015 8:16:07 GMT
SS seem a little trigger-happy in chasing BACS deficits currently. I made a modest cashier credit and loan purchase first thing this morning, then immediately made the matching FP transfer from my bank account. Since then I've had not only the usual email acknowledging the credit but now also a chasing text message mentioning that my loan parts will be cancelled if not paid for. If SS look in their bank account they'll find that the money is already there, so the text message seems heavy-handed...
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webwiz
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Post by webwiz on Oct 6, 2015 8:23:47 GMT
SS seem a little trigger-happy in chasing BACS deficits currently. I made a modest cashier credit and loan purchase first thing this morning, then immediately made the matching FP transfer from my bank account. Since then I've had not only the usual email acknowledging the credit but now also a chasing text message mentioning that my loan parts will be cancelled if not paid for. If SS look in their bank account they'll find that the money is already there, so the text message seems heavy-handed... In their email they give the times of reconciliation and it is not done the same day. The text message will have been computer generated and you will have had a BACS deficit showing at that time. Just ignore it and get on. I have never experienced any problems in this area and have always found them helpful.
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SteveT
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Post by SteveT on Oct 6, 2015 8:48:08 GMT
SS seem a little trigger-happy in chasing BACS deficits currently. I made a modest cashier credit and loan purchase first thing this morning, then immediately made the matching FP transfer from my bank account. Since then I've had not only the usual email acknowledging the credit but now also a chasing text message mentioning that my loan parts will be cancelled if not paid for. If SS look in their bank account they'll find that the money is already there, so the text message seems heavy-handed... In their email they give the times of reconciliation and it is not done the same day. The text message will have been computer generated and you will have had a BACS deficit showing at that time. Just ignore it and get on. I have never experienced any problems in this area and have always found them helpful. Nor have I, but this is the first chasing text message I've received in maybe 200 deposits so it must be a new innovation (and maybe not fully thought through).
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 6, 2015 8:59:58 GMT
In their email they give the times of reconciliation and it is not done the same day. The text message will have been computer generated and you will have had a BACS deficit showing at that time. Just ignore it and get on. I have never experienced any problems in this area and have always found them helpful. Nor have I, but this is the first chasing text message I've received in maybe 200 deposits so it must be a new innovation (and maybe not fully thought through). Seems to be very random. Never had a text but got the email Friday regarding a deficit that was less than 48hrs old (first ever despite some accidental transgressions). Parents account has had a five figure deficit since late Thurs but no communication at all (did send SS a chase but no response). As long as there isnt a totting up system somewhere then not really an issue. Maybe theyre experimenting with different systems.
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c88dnf
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Post by c88dnf on Oct 6, 2015 9:01:09 GMT
In their email they give the times of reconciliation and it is not done the same day. The text message will have been computer generated and you will have had a BACS deficit showing at that time. Just ignore it and get on. I have never experienced any problems in this area and have always found them helpful. Nor have I, but this is the first chasing text message I've received in maybe 200 deposits so it must be a new innovation (and maybe not fully thought through). I agree. I made a BACS transaction at 00.34 this morning and then took a loan part on at 00.40. At 09.00 this morning I get a phone call warning that I'm in BACS deficit. Presumably SS's computer update cycle has cutoffs at different times in the wee small hours for loans and BACS deposits, so there is a likelihood of a mismatch between the two if your lifestyle is not 9-5. Presumably things will get reconciled in tomorrow's BACS run.
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mikes1531
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Post by mikes1531 on Oct 6, 2015 10:25:03 GMT
I made a BACS transaction at 00.34 this morning and then took a loan part on at 00.40. At 09.00 this morning I get a phone call warning that I'm in BACS deficit. : What did SS say when you replied that the money was in their account already?
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david42
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Post by david42 on Oct 6, 2015 13:25:34 GMT
I got also my first ever text message about my BACS deficit today, for a deficit that I created and funded at 15:45 yesterday, so according to the published timetable it should have been reconciled this morning.
I asked Saving Stream why they had sent me a text message and Tim just replied that the deficit had been cleared.
David
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c88dnf
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Post by c88dnf on Oct 6, 2015 13:44:41 GMT
I made a BACS transaction at 00.34 this morning and then took a loan part on at 00.40. At 09.00 this morning I get a phone call warning that I'm in BACS deficit. : What did SS say when you replied that the money was in their account already? It wasn't an option - the call was from an automated machine! Not very impressed....
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webwiz
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Post by webwiz on Oct 6, 2015 13:56:06 GMT
Hmm not like SS. I can only suppose that a lot of people have been abusing the system and applying for amounts that they have no intention of buying.
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mikes1531
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Post by mikes1531 on Oct 6, 2015 14:16:23 GMT
c88dnf: What did SS say when you replied that the money was in their account already? It wasn't an option - the call was from an automated machine! Not very impressed.... Might it have been sent as a text message? I've had some of those sent to my land line, and my phone provider seems to have used a text-to-speech engine to convert the message into an automated voicemail.
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sam i am
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Post by sam i am on Oct 6, 2015 14:25:36 GMT
In their email they give the times of reconciliation and it is not done the same day. The text message will have been computer generated and you will have had a BACS deficit showing at that time. Just ignore it and get on. I have never experienced any problems in this area and have always found them helpful. Nor have I, but this is the first chasing text message I've received in maybe 200 deposits so it must be a new innovation (and maybe not fully thought through). SS recently said they would be making some tweaks following some over-enthusiastic pre-funding, so maybe these chasing texts are what they were referring to. p2pindependentforum.com/post/62485/thread
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