Direct debits take a little while to process. This is because the instruction needs to be setup first, and then the payment is processed. Below outlines the timelines involved for each different type of payment.

Monthly regular payment

If the payment date you select is less than 4 working days away (from the day that you setup your account) then your first payment will be taken next month.

For example, it is Friday the 28th of September, and today you select the 1st to be your regular payment date. There are not enough working days to process this payment for October, therefore your first payment will come out on the 1st of November.

If the payment date you select is more than 4 working days away (from the day that you setup your account) then your first payment will be taken this month. For example, it is Friday the 21st of September, and today you select the 1st to be your regular payment date. There are more than 4 working days to process this payment for October, therefore your first payment will come out on the 1st of October.

One off top up payment

If you set up your account with a one off top up, your payment will be taken from your bank account in 4 working days time (from the day that you setup your account), then it will take a further 2 working days to double check your payment and process it into your Penfold account.

Did this answer your question?