I made a mistake with a date a direct debit went out of my account. It caused me to overdraft. I recognised the mistake and made a cash deposit of £400; this all happened on the same day. They charged me £30. I called to ask for refund, they said no. Are they right to charge me?
It is often the case that debits (charges) to an account post before credits (deposits). That may be because the events occurred in that order in real time, or because of the posting sequence followed by a bank at the end of the business day. Whether or not the bank has the right to impose an overdraft fee for what might be termed an interim overdraft of an account is a question for local law or, in the absence of such a law, contract.
At least in the U.S., there are no laws or regulations that prescribe a particular order of posting entries to an account. In fact, in most U.S. states, the Uniform Commercial Code specifically states that items may be posted in any order.
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It is often the case that debits (charges) to an account post before credits (deposits). That may be because the events occurred in that order in real time, or because of the posting sequence followed by a bank at the end of the business day. Whether or not the bank has the right to impose an overdraft 