Well... it is now 6.45pm and we have two loans where the interest in advance which was supposed to be taken from our account on the 27th still has not been taken. A third loan was due to be prepaid on 14th and the interest was debited from our account on the 23rd (nine days later than the documentation stated) and the fourth loan was completely stuffed up, but we have managed to fix it up in time.
I spoke to my broker at 4.15pm and he has been assured this will be done before the end of the financial year. I suggested that by 11pm if it hasn't been debited, I'm prepared to manually transfer the exact amount for both loans and then deal with the consequences if the bank also tries to debit from the account overnight which would overdraw it.
He said if my prepaid interest somehow doesn't get debited before midnight I will (obviously) be one of thousands to have this happen. He said that banks can (and do) backdate this type of thing, if there is good reason.
So, do I sit tight and assume my bank will actually debit my account and credit these two loans with the documented prepaid interest funds and if they don't do this before midnight tonight, will I have problems if they backdate the transaction so that it officially was done before midnight on 30 June?
... always a barrel of laughs, this banking caper :roll eyes:
I spoke to my broker at 4.15pm and he has been assured this will be done before the end of the financial year. I suggested that by 11pm if it hasn't been debited, I'm prepared to manually transfer the exact amount for both loans and then deal with the consequences if the bank also tries to debit from the account overnight which would overdraw it.
He said if my prepaid interest somehow doesn't get debited before midnight I will (obviously) be one of thousands to have this happen. He said that banks can (and do) backdate this type of thing, if there is good reason.
So, do I sit tight and assume my bank will actually debit my account and credit these two loans with the documented prepaid interest funds and if they don't do this before midnight tonight, will I have problems if they backdate the transaction so that it officially was done before midnight on 30 June?
... always a barrel of laughs, this banking caper :roll eyes: