Debit Card Problem

lizzy6

Hi
This is my first post and I don't know if I'm in the right place so if not please feel free to move it or let me know.
Does anyone know exactly how long a debit card transaction should take to leave your account, is there a time limit like cheques - only valid for 6 months? I've looked around contacted my bank, FSA, and merchant services and still not got a straight answer.
Thanks

Mikeyorks

It 'should' take 2-5 days.

But the authorisation which takes place with most DC transactions - will drop off after around 10 days. When your Bank software gets tired of waiting for the debit to arrive - and returns the money to your available balance. After that period the Bank can decline the transaction if it arrives and there's inadequate funds. But the transaction can, exceptionally, hit your account for up to 6 years following the transaction date. And the merchant can pursue you for the same period if your Bank decline a late transaction.

Pink_fluff

Don't know the answer to your question. But I made a payment while abroad - 7 weeks ago - they payment came out my bank only about 4 days ago!!

lizzy6

Hi
Thanks to you both, I have just had a payment take 20weeks to come out of my bank and unfortunately did not even remember what it was. Good job I had the money in my account, although it did leave me short for that week.
Thanks again, and must say I love this site.

pasti

Debit card transactions can debit at any time after authorisation, however because they are already guarenteed funds they will debit your account no matter what the balance is.

biggaz26

I have had some issues with this today and according to the 'lovely' lady at Natwest.

'Retailers have up to 6 months to debit your account with card transactions. Maybe you should keep a mental note of what you have spent on your card'

It all depends, apparently, on how often the retailer updates the card machine thingy.???

I have noticed that lately card payments that were going through within minutes at Tesco Express around the corner from my house are now not going through untill the next day.

Someone somewhere is being lazy i guess. But it does annoy me as now I have gone 20p over drawn due to a transaction taking 3 days to clear and after checking my online banking I have left what i thought was enough to cover DDs and its not.

This can make budgeting difficult as you can never be 100% sure how much you need to leave.

Its possible that banks are slowing these things down as it will result in people incuring more charges and therefore the banks will make more money, but that unlikely, isn't it?

Mikeyorks

pasti wrote: »

however because they are already guarenteed funds they will debit your account no matter what the balance is.

Which .... I'm afraid .... is rubbish. The authorisation lapses after around 10 days, when your Bank returns the authorised funds to your available balance.

If the debit arrives after that your Bank will honour it if sufficient funds .... but is under no compulsion to do so otherwise and can just 'dishonour' it.

stiffnuts

i used my debit card in a petrol station. It was debited from my account 3 months later