Natwest Just Made A Huge Change To Weekend Payments – What You Need To Know Before Payday

The big bank has overhauled the way it handles weekend transactions – and for some, that’s not good news

Natwest said the changes are designed to help customers

High Street Natwest Bank changed its terms and conditions, which could mean people get paid later, including those on state benefits.

The bank, which has 18.9 million customers worldwide, no longer processes “regular customer transactions” on Saturday mornings – despite a number of branches still open to customers between 9am and 3pm.

This means that anyone who gets paid – or needs to be paid – on a Saturday, will no longer be – because they will arrive the following Monday.

The changes include salaries, pensions and other regular income such as benefit payments, direct debits and standing orders – which will now come in the next business day instead.



Likewise, any regular payment must be paid of your account on Monday, will no longer be processed on the previous Saturday, which means that the money will be available during the weekend.

Natwest said it made the necessary changes to ensure people have access to all their money on weekends.

However, if you choose to spend it and there are automatic debits scheduled for Monday at midnight, you may find yourself overdrawn.

A spokesperson for Natwest said: “As of Saturday, January 13, 2018, the way regular payments go in and out of our customers’ accounts over the weekend has changed.

“Any regular payments that customers expect to make or receive on a Monday – or a Tuesday if Monday is a holiday – will no longer appear in their account on Saturday. Instead, if a customer has a direct debit or standing order due on a Monday, it will show that Monday (or Tuesday).

“Customers will no longer be able to access funds earlier – over the weekend – when a credit is due on their account on a Monday or next business day. We communicated these changes to all of our customers in October 2017 and are doing so. regular updates to our websites. If customers experience any difficulty with these changes, they should contact us for assistance; in branch, by phone, by video banking or online chat. “



What changed ?








If you usually get paid on weekends, you might have to wait an extra day or so
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Picture:

Getty)




The way regular payments come in and out of your accounts over the weekend has changed, and your available balance may be affected.

The changes went into effect on January 13 – which means if you’ve noticed delays in your payments this month, that could explain why.

If you need to get paid, or if you usually get money on a Saturday or Sunday, then you won’t be as of this month.

Likewise, the money that must leave your account on Saturday will not be released until Monday.




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Why change things?

The bank said it made the necessary changes to ensure customers have access to all of their money on weekends.

All regular payments (like direct debits and standing orders) that need to be paid on a Monday will no longer show up as going out of your account on a Saturday. This will now happen on Monday (or the next business day following a holiday).

This means that all the funds in your account on the weekend are at your disposal.

If, however, you have scheduled direct debits, you will need to make sure you have enough money in your account by 12:01 am on Monday to avoid being overdrawn.



Will my ATM withdrawals still show in real time?

Natwest said transactions such as ATM withdrawals or faster payments will always show on the day you complete those transactions.

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