I hate paying on Debit Cards

bugs_whats_up_doc

I have found a new hate, paying on my debit card, I have a Alliance & Leicester Visa card I dont have my wages go into it but use it to buy stuff off the net, and pay bills, if theres anything left I may buy the odd tank of fuel and food.

Last week I spent on my card and left £9 in my account, I checked it online on monday and it said account balance £50, the running balance -£13.78, so couldnt take anything out I dont know why its saying im in the red, I put the 13.78 in now its saying Iv got £63.78 available. I just find it incredibly difficult, to keep track of it, anyone got any tips? I thought about boycotting paying with card totally and just taking out cash, so then there is no delay in the cash going out.

Thanx

Kavanne

there's quite a lot of money management software around that you can keep your own running total. Hell you could even do it with excel!

sarahs999

I think what OP is complaining about is that sometimes comapnies don't present the debit card transaction the same day, so you think it's gone out but it hasn't. I find rail companies particularly bad at this - takes days sometimes.

The only thing you can do is keep track ona bit of paper, or a running total in your head. And check your banking every day just to make sure you're not in trouble.

bugs_whats_up_doc

Yeah thats the main thing really, asda are prone to it to, especially with fuel. I found out what it was I paid british gas on my card, but they tried to bill me 3 times it sorted itself out. think i`m going to use a combination of both your suggestions, use some software to track my finances as I spend and periodically check the account to see they match.

rb10

Many companies will not request payment from your bank for a few days after the transaction actually took place. This is because it is cheaper and more convienient for the retailer (or card company acting on behalf of the retailer) and the bank to do a large number of transactions in one batch, rather than doing them individually.

So when you present your card to the retailer, the bank will then reserve that amount of money from your account to make that payment when required. This deducts it from your available balance, but not from your account balance. Then, when the money is actually taken, your account balance will reduce.

Therefore, your available balance will usually be the most accurate (although remember if you have paid cheques that haven't yet cleared, these will not show up). But, as sarahs999 said above, this isn't always the case, especially in the case of train companies and smaller retailers.

The only way of staying in credit is to make sure you keep a close eye on when you spend money on your card, and what your balance will be after this has gone out. When you check internet banking, look for any transactions that aren't yet registering.

OR, get a credit card. As long as you make sure you don't go over the limit, and set up a direct debit from your current account to pay it off in full every month, you won't pay a penny, and then there's not the problem of going overdrawn.

Voyager2002

A short-term solution is to ask A and L to give you an overdraft facility. They should not charge you for this, but it means that if you dip into the red by a small amount you will only face interest charges (pennies) and not the hefty fees they charge for an unauthorised overdraft.

Alternatively, you could just leave (say) twenty pounds in that account all the time, so that you have an emergency buffer in case you spend a little too much.

Inactive

Use cash, you always know exactly how much you have left.

No card fraud either.

97trophy

as suggested above, why not use a credit card and use time delay of paying back to your advantage.

97trophy

Inactive wrote: »

Use cash, you always know exactly how much you have left. No card fraud either.

Unless you get pic-pocketed, which has happened to me - bar stewards!!!

newlywed

rb10 wrote: »

Many companies will not request payment from your bank for a few days after the transaction actually took place. This is because it is cheaper and more convienient for the retailer (or card company acting on behalf of the retailer) and the bank to do a large number of transactions in one batch, rather than doing them individually.

So when you present your card to the retailer, the bank will then reserve that amount of money from your account to make that payment when required. This deducts it from your available balance, but not from your account balance. Then, when the money is actually taken, your account balance will reduce.

Aaaahhhhh - Thanks - wondered why it sometimes took so long to update from available to actual balance on internet banking - assumed it was A&L slow to update the web

I try to have a few days where I pay with the cash I have on me instead of the card, just to make sure it all updates and I get a true balance again.

Fedz

Pending transactions not showing on online banking is one of major hates.

The co-op is horrendous at this and if you for example had £100 balance and available balance and spent £10 on the debit card then login to online banking it'll still show £100 for balance and available balance.

Goto the cashpoint it'll show you balance of £100 but, available balance of £90 - so you know £10 is pending to go.

If like me and you use your debit card very often this gets very confusing and I mean really confusing unless you keep your receipts then deduct ones that haven't cleared (usually about 3 days) from the balance and available balance - too much hard work in my book.

My halifax (HBOS) and NatWest (RBS) debit card transactions show almost instantly but, co-op never show unless it's actually gone (usually 3 days) ...

I've contacted co-op about this and all they say to me is all banks are the same despite me advising them they're the only one I have used that do this.

I did put a formal complaint in about it as it's about time they brought the online banking up-to-date but, never got any feedback / progress report.

Maybe A&L are same