We'll randomly pay your debits.

[Dave A]

I just had to share this notice on the bottom of my Standard Bank statement this month:

Due to changes in the law we may no longer decide which debit order, cheque or stop order to pay first. We will now debit these randomly everyday. Please ensure that you have money in your account to meet all debits.

Randomly?

[Marq]

Luck looks

I remember an old office joke - loooooong ago (BC) Before Computers.

It was the story how we thanked our creditors for their invoices and ensured them that it would receive attention shortly.
The invoices would be placed in a barrel and we would draw three of them once a month for payment. If your invoice was drawn then it was refered to as "lucky looks".
If the invoice stayed in the hat for more than three months, it would be thrown away.

Sound Familiar here? Only this is no longer a joke.

[entoserv]

This is obviously only an issue when you have insufficient funds. Just don't get in that position and what's the big deal?

[Candy Bouwer]

Randomly?

ja but can they really do that? don't we also have a say...surely its our own money!!!

[Dave A]

"As presented for payment" would make more sense. The "random" thing makes me think of a lottery machine.

Candy makes a valid point. Surely you should be able to give a mandate to instruct the bank how to proceed in these situations?

Happily idle speculation in my case, but there should be a sound, fair system in place.

[duncan drennan]

And I'm sure all monies owed to the bank would be deducted first in this random order...

[Dave A]

And I'm sure all monies owed to the bank would be deducted first in this random order...

I supect it is that practice that led to the change.

I think I'm going to phone tomorrow for more information. My curiosity is piqued.

[Marq]

Random order listing

You'll find their "random order" is:-

1. Standard bank credit card payments
2. Standard bank bond accounts
3. Other Standard Bank payments
4. Small stuff that they know will go through next
5. Test the system for larger payments
6. Keep testing for x times and then give up and sue everyone just in case

You can phone Dave - but they would never admit to this.

If you have been in this boat - like I have - then it does become a big deal.
May your cashflow never squeeze you in this direction.