Natwest...Sneaky Tricks to Get Charges??

Head-Out-Of-Sand

Something interesting happened to my bank account over christmas...

I've budgeted quite carefully over christmas so was aware of exactly how much was is & due to go out up to New Year.

On 22/12, before 12pm, I ordered two concert tickets online at a cost of £83, presents for my parents. I checked my online banking before and after and the payment immediately showed as being taken. This left me with about £40 in the bank available, which I planned not to touch over christmas (got enough money out to cover me for the holiday so I could avoid using card/cashpoint).

I checked my account again on Christmas eve & was surprised to see that my available balance was £128...no sign of the purchase coming out at all. I was concerned that I had maybe forgotten about a cheque or payment that hadn't gone out, and that this had affected the payment, but couldn't think of any reason why this would be the case.

I've been checking my account every day since then and up until this morning, that £128 was still showing as available in my account. I checked again this morning and the amount has finally been taken out of my account, one week after it originally left my account.

It may just be me being cynical and suspicious, but how nice a christmas bonus it would have been for Natwest had I mistakenly thought that £128 was my available balance and spent it, leaving me over my overdraft limit when it did eventually show...there's £40 unpaid item and £40 unauthorised overdraft fee! The scoundrels.

At best, it's misleading and unhelpful. At worst it's nothing better than a cash-raising scam by the bank!!! I am outraged! I'm a lot more bank savvy now, but a few years ago that would have bamboozled me into thinking I could afford a few extra last minute pressies!

I appreciate there's been xmas & boxing day, but for the funds to leave my account and then show again? Very strange.

Anyone else had anything like this??

YorkshireBoy

Head-Out-Of-Sand wrote: »

Anyone else had anything like this??

Often, and it's always been the merchant/merchant acquirer's 'fault'...and never the bank's fault.

The bank only processes what it's asked to process.

This is why keeping a running tally (on a statement, scrap of paper, Microsoft Money, etc) is so important. As soon as you've presented your card/signed a cheque, assume the money has (permanently) left your account.

Head-Out-Of-Sand

Yeh, I always do that now - trust my own tally of what's gone out rather than the bank...thank goodness I do or I'd have had a rather nasty xmas surprise from Natwest!! :shocked:

Head-Out-Of-Sand

YorkshireBoy wrote: »

Often, and it's always been the merchant/merchant acquirer's 'fault'...and never the bank's fault.

The bank only processes what it's asked to process.

But if it had already *left* the account, then gone back in, then eventually gone out over a week later, surely the bank must have processed it initially?

I'm not an expert on these things though, am easily confused!

natweststaffmember

Head-Out-Of-Sand wrote: »

But if it had already *left* the account, then gone back in, then eventually gone out over a week later, surely the bank must have processed it initially?

I'm not an expert on these things though, am easily confused!

as has been said before. The merchant has made an error. Seen it many many many times before. The transaction was not processed correctly at the point it was made. The bank will give an authorisation code. The merchant has a timescale to accept it and debit the account otherwise it does drop off the system, which with natwest has generally been 2 working days.

Extant

Head-Out-Of-Sand wrote: »

But if it had already *left* the account

Card processor requests authorization to debit from Natwest. Natwest says they can have the money if they want it, and subtract it from your balance to stop you spending it twice.

then gone back in,

Authorization expires - the card company hasn't taken it within the normal timed frame. But, they can still take it whenever they want, it's just no longer "guaranteed" by the bank...

then eventually gone out over a week later, surely the bank must have processed it initially?

And then they've finally taken it from your account.

Head-Out-Of-Sand

Phew!! Thanks for the explanation guys

I'm seriously considering keeping my money in a bag under the bed from now on, much less confusing!!! He he! :rolleyes:

cassandra78

This happened to me over Christmas. I bought a few items on ebay using Paypal before 18th December. Thinking the money must have come out because I had recieved the items, I carried on as usual and did the Christmas shopping, food shopping etc checking my balance a few times as I went along to make sure I didn't overspend. Not carefully enough though! I was waiting for a cheque for £113 to clear, but it didn't seem to. I figured it must be because of all the bank holidays. But NO it seems I'm in trouble. I am suddenly over my overdraft limit. But I was so careful! I had no idea the bank could do this, I thought once something had been paid, the money would be gone. I feel terrible. I hate Natwest so so much :mad: now I'm not getting any more income until 12th Jan and even then I'm back to £30 a week. BAD start to the New Year.

CLAPTON

cassandra78 wrote: »

This happened to me over Christmas. I bought a few items on ebay using Paypal before 18th December. Thinking the money must have come out because I had recieved the items, I carried on as usual and did the Christmas shopping, food shopping etc checking my balance a few times as I went along to make sure I didn't overspend. Not carefully enough though! I was waiting for a cheque for £113 to clear, but it didn't seem to. I figured it must be because of all the bank holidays. But NO it seems I'm in trouble. I am suddenly over my overdraft limit. But I was so careful! I had no idea the bank could do this, I thought once something had been paid, the money would be gone. I feel terrible. I hate Natwest so so much :mad: now I'm not getting any more income until 12th Jan and even then I'm back to £30 a week. BAD start to the New Year.

Why don't you get online banking then you can check each item or get a mini statements from the ATMs.

can't see any reason to hate NatWest

Extant

Head-Out-Of-Sand wrote: »

Phew!! Thanks for the explanation guys

I'm seriously considering keeping my money in a bag under the bed from now on, much less confusing!!! He he! :rolleyes:

The real issue with this is business using your card - nothing really to do with the banks, who catch a lot of unwarranted flak for this.

Lesson being, though, that it's wise to keep a track of what you know you've spent, and actually check your statement - don't rely on the balance alone, since that has obviously sent you wrong.

Errata

If people kept track of what they've spent - remember the olden days when we wrote cheques and wrote up a running balance in our cheque books - they wouldn't have any problems.