What the hell are Barclays doing? All Current account holders login to check!

sutton111

piglet39 wrote: »

Natwest do the same. Any payment due out or in the system on a monday shows up first thing on the Saturday morning. I find this useful tbh.

Piglet

yea spot on natwest do this, as well as yorkshire bank.

agsnu

Neither, I just like voting in poles!

janben63 wrote: »

I have found this on my Barclays account most sundays they put all the monday D/Ds and transations dated with Mondays date, its a cheek isnt it.

I don't really understand how it's a cheek. There is basically no effective difference, except that their system may prevent you from withdrawing too much money over the weekend so that all your DDs bounce on Monday - and I can't see how that's a negative thing. You're required to have money in to cover the DDs by that point anyway.

The transaction date is Monday, and that is what will be used for interest calculation purposes etc, so they're not even "cheating" you out of your (pennies?) of interest.

I mean, blimey, you lot complain that banks don't give you enough information about what's going on, but then you complain when they start showing you pending transactions which are in the system... Would you rather they hid them from you? I can't really see how you think you'd be better off.

Idiots.

talana

Yes, put another option into your poll please.
"Yes it does, but this is normal, I understand it and it's a great help" or something similar.
Otherwise the poll is meaningless

masonic

I wish other banks did this. By stopping you from spending money that's needed for outgoing payments overnight, you don't need to worry about waking up to penalty charges.

digp

Perfectly normal. In fact, I think it's a good idea. They put the money to one side ready to go out on the Monday. Haven't you got anything better to do than complain?

shirlgirl2004

Yes it does, I didn't know banks could time travel!

Yes this happened with my Barclays account and my RBS one. I can't say I find it beneficial but it doesn't bother me either.

Markp.com

Yes it does, I didn't know banks could time travel!

The way the system works? This is not the way I want the "system" to work!

The bank is basically taking money early from my account.

Also transactions (not standing orders) that happened on a Saturday are showing as happening on the 1st, this is wrong, not helpful. :mad:

What happens to the money that has been taken from my account early? Sitting in limbo earning interest for someone else no doubt...

noh

Markp.com wrote: »

The way the system works? This is not the way I want the "system" to work!

The bank is basically taking money early from my account.

Also transactions (not standing orders) that happened on a Saturday are showing as happening on the 1st, this is wrong, not helpful. :mad:

What happens to the money that has been taken from my account early? Sitting in limbo earning interest for someone else no doubt...

The money is not coming out of your account early. It is leaving your account on the date shown ie 1st of december and you will earn interest (if any) on it up to that date.

Nigel

masonic

Markp.com wrote: »

The way the system works? This is not the way I want the "system" to work!

The bank is basically taking money early from my account.

Also transactions (not standing orders) that happened on a Saturday are showing as happening on the 1st, this is wrong, not helpful. :mad:

What happens to the money that has been taken from my account early? Sitting in limbo earning interest for someone else no doubt...

Firstly, as noh says, the money is still in your account, it has just been reserved to cover payments going out overnight. You can't spend the money whether Barclays reserve it or not, since if you do, it won't be there to cover the payments you've set up and you will be charged unauthorised overdraft fees. Or perhaps you would prefer this?

As for the treatment of standing orders, no bank processes standing orders on non-working days. They always go out on the next available working day.

Thomas_Crown

CHRISSYG wrote: »

this is standard practice , where the payment is due on a monday the transaction always shows close of buisness friday.

Are you referring to Barclays as the above is not the case with Lloyds TSB? Monday's transactions are now showing on my LTSB account but they wern't there earlier today.