We have thousands of customers so having a system in place to show instant payments especially for direct debits will take some time to show on our system as cleared.
That is by design @Lee_EONNext and nothing to do with the amount of customers. Someone somewhere has taken a deliberate decision to have a system that delays the DD amount being shown as credited to the customers account by several days.
I know of two major companies that do the opposite, they show the DD amount as being credited at least 24 hours before the DD is actually taken. So it's clearly nothing to do with the number of customers.
I have to say that I pay zero attention to when my DD is credited to my account, it seems to be important only in very particular circumstances.
but I don’t see that there is any particular advantage to Eon Next in delaying things, although for clarity to customers any delay should be minimal.
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I have to say that I pay zero attention to when my DD is credited to my account, it seems to be important only in very particular circumstances.
but I don’t see that there is any particular advantage to Eon Next in delaying things, although for clarity to customers any delay should be minimal.
As per my earlier post, I suspect that delaying the application to your EOn account leaves you potentially with a higher debit balance showing on your account for that month, so may make them more likely to adjust your DD to a higher amount based on your calculated debit balance.
By bringing your payment forward by 5 days or so means that the credit has been applied to the account before it's calculated, so gives a better (credit) balance showing for that month.
@Andy65 True, I've experienced this before with other companies however never with us. I have seen further delays caused by weekends and bank holidays. We have a timer with a pending clock next to it, if a payment failed for whatever reason it will show the next day on the payment run.
I will ask someone to see if there's a reason to why we delay. I guess my point is we can see it pending and it will clear providing the funds are there to be taken, there would be no late payment process or anything like that.
I understand why customers do want to see it next day or day of.
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I do though remember a company that charged its inter related subsidiaries high prices than external organisations. Some clever people routed some orders to their own companies and then back to the proper subsidiaries and pocketed the difference. Another one routed the discarded rounding on calculations into their own account.
Surely the Direct Debit system runs on a 3-day BACS cycle and can be up to 5 days if the weekend gets in the way. Not an instant payment method even though it comes out of a customer's bank account on the same day each month. If I understand the BACS cycle, Eon Next will not actually receive funds on the same day as it goes out of the customer's bank account. They know that a DD has been actioned but won't know if that translates into actual payment until it does arrive in their holding bank account. Presumably Eon Next then need to run some kind of reconciliation process every weekday to allocate actual funds received via DD before thay can finally allocate the payment to the Eon Next customer account.
In my experience the account updates 3 working days after the DD date and possibly a bit more if the weekend intervenes. I've never felt the need to chase Eon Next (or any supplier for that matter) as to why it takes 3-5 days before a provisional payment gets allocated to the account proper.
@Mailman I don't think its necessarily Eon Next receiving the funds, it's when it's added to the system to view on screen. It's why with failed payments we kind of see them faster than the credit being added to the account.
Let me do some digging with finance @Mailman I will make sure we get some accurate information to all of the above.
@Mailman I don't think its necessarily Eon Next receiving the funds, it's when it's added to the system to view on screen. It's why with failed payments we kind of see them faster than the credit being added to the account.
Let me do some digging with finance @Mailman I will make sure we get some accurate information to all of the above.
As all Direct Debits are handled using the BACS 3-day cycle it would be strange if Eon Next credits customers' accounts with payments on the same day that the DD process starts. At the very least there will be occasions where the DD fails due to insufficient funds in the customer's bank account.
I'm not in the least concerned that it takes 3 working days before my DD payment appears on the account but is classified as 'pending payment'. In fact my DD is due to go out on 19th August and is already listed in my account as 'upcoming'. So although it will appear as 'taken' from my account in the morning of 19th, the process of sending this money via BACS to Eon Next will not take place until all the skittles are lined up as it were. It is not instantaneous for all parties and never has been. It is the reason I don't expect to see the 'pending payment' change to 'You paid via Direct Debit' until a few days later. I'm not at all worried but some folk are. 😁
I'll double check exactly when my account gets updated but my money is on Thursday (3 days).
EDIT: DD marked today (19th August) in my bank account as being paid and will confirm when the 'provisional' status changes and my Eon Next account is updated to reflect that.
@Mailman So we can see it pending and sometimes the pending will stay for a few days after the payment is taken. I'm sure finance still run the bacs report like the next day to see if there have been issues etc.
I will ask all of the above and find out, if we can help people then it's important we get the information out. My view is probably similar to yours, I know the money has been taken so it will appear, if it didn't customer services will be able to advise and get this added.
That being said, it should just be added asap after being taken, which i'm sure it is - I will get more information though.
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