Which Takes Priority?

[sarahc1986]

I have a direct debit which hopefully won't go out monday (3/6) as I cancelled it Thursday and a debit card payment also due to be taken monday but there aren't enough funds for both. Is the debit card payment likely to be honored over the direct debit?

[friedgreentomato]

debit card will be given priority

[Old_Geezer]

Surely they both get honoured and you go into the red ?

[marje]

I would have thought that as you cancelled the DD in good time it won't go out at all.

[Prudie]

I agree with marje but if they both do attempt to take payment it would just be whichever one processes first? A debit payment will be refused rather than honoured and put you in the red. Who hasn't had the horror of a debit card being declined at some point.

[boxtops]

The added problem can be that if the bank reject a request for payment (either due to inadequate funds) they will almost certainly hit you with bank charges for that too.

[sarahc1986]

Thanks - I was just wanting to check which was most likely to be honoured just incase they try and take the direct debit anyway. I won't go into the red as I don't have an overdraft which is the reason for rearranging everything

[craft1948]

Did you cancel the direct debit with the company or the bank?