Late automated car payments...

[SilentJay]

I've had my car since late August, and every month since then, the payment has been late to come out of my account. Its supposed to come out every 25th of the month, but its come out on 27th, 28th, 30th, but not the 25th. Yes, more money in the bank for longer is supposed to be good, but it kinda throws me off. Anyone experience the same thing? :pop

[p-o-g-i]

I experience the exact same problem.

My payments are 2x month, which is on every other Wednesday..... but the payment never comes out till Friday.

[b3GS]

mine come out every 2 weeks as well.. and so far have been on time

[SilentJay]

I suspect that it has something to do with the way Scotia interacts with our various banking institutions, mine in this case is PC financial. Much like how on payday from the same company, people will get paid at different times. That said, shouldn't the time differential be consistent?

The account my car payments come out of was almost overdrawn last month because I though the payment had already come out and I paid for some groceries. Left me with $0.03 to spare! I now know to keep at least the car payment's amount as a minimum balance in the account at all times - stupid whack banking institutions :P

[FLIPDADY]

I've been in this situation before with Allstate. Apparently they process the direct debit on the date that it's actually due then it takes a few days for the transaction to actually happen. Screws things up sometimes.

[Voodoo]

mine is always on the first workday of the month

[Slade]

My lease is suppose to come out the 15th of every month...however if its on a weekend it should come out the following Monday, but sometimes its a few days late..Im with CIBC.

[Jeff-TheBiz]

And the odd weekend will add a day as well..

Just make sure they don't grab a payment earlier than the date on the contract.