End of Month Standing Order Logic


#1

This may be a basic question, but what logic does Starling apply to standing orders that have a monthly payment date after the 28th of the month?

My legacy account puts up a warning if you create a recurring payment with a date after the 28th of the month. The warning is that since not all months have more than 28 days, and payment will be made on the last working day of the month. For example, if I specify 31st of the month the payment would go out on 30th November or 28th/29th February.

The reason is that I want to move some things over to Starling and doing so would require a standing order to be setup back to my old account (I’m not comfortable changing everything at the minute due to the lack of SecureCode and the number of outages recently).

I get paid on the last day of the month, so would need to schedule the standing order to be the same. I couldn’t use 1st of the month as some of my DDs go out of my legacy account on the first and couldn’t be sure the money would be sent from Starling to my legacy account before DDs were declined.


#2

Hey @Daesimpso,
This is a great question!

There is a limited number of recurrence rules that are supported by CASS (Current Account Switching), which means that even though Starling supports the recurrence rule you describe CASS may not.

I’d recommend you set up the payments manually on Starling to go out this month on the 31st, and in that way they would continue to leave your account on the last day of the month.

We’re excited to see you moving more payments to Starling!


#3

I’m somewhat confused as I never mentioned account switching service.

For clarity, are you saying a SO setup for 31st would be paid on the last day of the month if it only had 30 days? What if that were Sunday or bank holiday?

Just a minor point, but it would be wise to ask the person who asked the question if the answer fulfilled their needs before marking the issue as solved, as in my case it wasn’t, as per my request for clarification.


#4

Hi there.
I mentioned the current account switching service to highlight that if you wanted to use this to move some of your payments across they will not necessarily keep the same recurrence rules as you have set at your own bank.

A SO setup for the 31st would be paid on the last day of the month if it only had 30 days. Starling makes payments on sundays and bank holidays too!

Hope that clarifies?


#5

Thanks, it’s clearer now. Starling works the same way as the legacy account for SOs.

I don’t have any SOs to transfer. The issue was about getting money back to my legacy account until Starling offers feature parity with my legacy account and I’m comfortable switching.


#6

For SO, in my case, Starling paid them on the date requested (ignoring the 29-31 issue), even if it is a bank holiday or weekend.

My legacy bank would pay the SO on the next working day if a weekend or bank holiday.