First Direct Balance issues

TheShape · 31 January 2017 at 8:01PM

One of the things I like about spending on a credit card (virtually the only spending I do on a debit card is £100 p/m with TSB for the cashback) is that I always get the time from statement date to payment date (approx 3 weeks) to be aware what is coming out of my account.

jamie_02 · 1 February 2017 at 12:14AM

In the 21st century it is ridiculous that decades-old systems at the main banks, couple with ancient work arounds from payment processing systems mean one should continually keep a mental figure of how much is in an account. Those arguing here are apologists for banks refusing, maybe now unable to change their working practices.

Recommendation to the OP: The way debit cards work is explained here http://brnt.cr/3SecSandwich and the explanation is from a new bank called Monzo, which very soon will be open for full business. It is the 21st century equivalent of the e-banks, like Cahoot, Smile, IF and First-e that kickstarted internet banking in the 90s. This year Monzo will launch alongside Starling, Atom and Tandem, and all promise real-time balance updates as standard. It maybe worth signing up for one of these, indeed Monzo is accepting users already.

jamie_02 · 1 February 2017 at 12:18AM

I'll add... I already use Monzo for day-to-day spending and the balance is updated by iPhone notification quicker than it takes to print the receipt from the till.

SamA19 · 1 February 2017 at 10:48AM

Thank you for your reply. My available balance is still incorrect, I even called First Direct and they confirmed they had no record of a payment I made for £123 3 days ago and therefore had not been taken off available balance.

I will certainly check my settings with Paypal also

SamA19 · 1 February 2017 at 10:50AM

Exactly what I am talking about! :T

SamA19 · 1 February 2017 at 10:58AM

Thank you, interesting read, and will also look into Monzo.

System · 1 February 2017 at 1:40PM

The Paypal issue can be fixed relatively easily.
Just use your debit card (as the funding source) instead of the bank account.

Bliss118 · 5 February 2017 at 2:34PM

I completely agree I switched from Lloyd's to First Direct and I could always very easily see how much I had with Lloyd's the First Direct app is slow and painful will be switching again soon!

FIRSTTIMER · 5 February 2017 at 3:34PM

Basically....Barclays have much better systems than FD. Barclays display and deduct transactions as and when they take place meaning your balance is ALWAYS virtually a true reflection of your account.

First Direct don't have this real time in its computer software

brianmoran.me · 14 May 2017 at 12:24AM

I'd recommend Starling Bank, they've not opened up to anyone and not just beta. Payments are realtime!

First Direct Balance issues

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