Transfer from e-saver to current account

loulou41

I transferred some money from my barclays e-saver to my current account. The transfer was immediate, I then transferred the same amount of money to an outside account. I checked my account this afternoon and noticed that there is an - next to the amount I transferred to the outside account. I hope it does not mean I have been overdrawn by doing on the same day. I just want to know if you can transfer say 5k from your internet account to your current account and then immediately transfer the 5k to an outside account. Does this make sense what I am trying to say? I am just worried in case the bank charges me for being overdrawn which of course I will dispute. Thanks

libra10

I'm not certain of the correct procedure, but if I was doing a similar transaction between my Nationwide esaver to flex account, I would definitely leave a day before transferring money to an outside account.

Good luck

noh

libra10 wrote: »

I'm not certain of the correct procedure, but if I was doing a similar transaction between my Nationwide esaver to flex account, I would definitely leave a day before transferring money to an outside account.

Good luck

No need to leave a day when transfering from Nationwide esaver to external account via Flex account as internal transfers are instant. I have done it many times.
I suspect the same applies to Barclays.

loulou41

Thanks, I have done it with Nationwide as well many times the same day. I think I should be ok as I have just read the small print, it seems it can be done. Just do not know why there is a - in the account.

MadMax2_2

The same thing happened to me. I did the same as the OP with transfer from e-saver to current and straight out to another bank. There was a minus next my balance but just above it on the same date it showed the transfer from savings to current.
I think its just the order in which transactions are listed. I wouldnt worry about as Ive not been charged.

loulou41

Thanks for letting me know, I am re-assured now. As you know the bank will not hesitate to charge you if you over by 1p.

iblametheparents

Barclays always shows debits before credits on their Online Banking. The only balance that matters with regards to being charged, etc, is the end balance for that day.

Extant

Online banking is a shadow system to the main systems - so occasionally entries will be re-arranged based on credit/debit order. They do not change in the "main bank," however.

If you credit an account and then debit it, the two entries contra and it makes no difference.

Barclays doesn't charge for being overdrawn during the day, even if you go a million pounds overdrawn. The bank doesn't settle accounts until the end of the day, so there is not actual cost to the bank for being overdrawn during the day.

In short - don't worry!