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Post by retired2005 on May 14, 2016 11:27:09 GMT
Just wondered as SS obviously work Saturdays (!!) do they also count Sundays in terms of calculating the 24 hours you get to clear a negative balance ..... or can I wait until tomorrow to make the FP into my account?
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
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Post by cooling_dude on May 14, 2016 11:42:43 GMT
Just wondered as SS obviously work Saturdays (!!) do they also count Sundays in terms of calculating the 24 hours you get to clear a negative balance ..... or can I wait until tomorrow to make the FP into my account?the Monday I don't think it will make any difference; the deposits are handled manually, which won't be done until Monday regardless of whether you send it today or tomorrow.
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Post by retired2005 on May 14, 2016 11:50:50 GMT
That was what I thought .... not trying to gain another days interest, just trying to reduce the number of FP's I have to make if the activity on the secondary market continues.
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lofty
Posts: 101
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Post by lofty on May 14, 2016 15:00:07 GMT
I've gone on a spending spree this morning as its the first time I've seen the secondary market this active. This left me with a negative balance which I've addressed by selling some loan parts and doing a payment to cover the rest. From what others have said this won't be processed until Monday morning as its a manual process, so I'm in the red until then. However, it should still register in their account on the time it was sent (+-2 hours if I understand the FP system) hence as far as I'm concerned I've done my bit so my investments should be safe and interest payments made on Saturday and Sunday night valid.
On a mildly related point, if checks are only done on Monday morning with regard to deposits I can see a system possibly open to abuse - buy a load of stuff on a Saturday, get interest for sat and sun night and then dump it on the secondary market early Monday morning before the deposits are processed. Personally, I'm not going to bother because the risk of SS spotting this (which speaking as a software engineer should be easy to trace in the backend) and suspending my account doesn't warrant the effort for a couple of quid. But if someone out there has a couple of hundred K in their account then utilising the negative balance facility to its max for two days interest might be tempting. Ditto for any 13 year old oikes out there playing games on the system who want to gain a couple of pennies for a pick-and-mix (I know, I know, I'm out of touch with how a 13 year old spends their money nowadays)
. Rant over.
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Post by brianac on May 14, 2016 15:06:58 GMT
Yep, this has been discussed B4, and I gather that SS are taking steps.
Can't remember which thread, but a lot of discussion.
Brian
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