Cash Machine hasn't taken money out of my account!

Uncertain

Lokolo wrote: »

Wow, brilliant there.

What happens when the money comes out in 2 weeks and makes them go overdrawn and they get charges? Still the banks fault eh?

To some extent, yes.

Had the bank not messed up, the account would have been debited at the proper time, not some random date in the future.

If you send a cheque to somebody and they fail to cash it, the cheque goes out of date in (I think) six months. You should of course keep enough funds in your account to allow for the cheque to be cashed at any point during those six months. Perhaps the same should happen here but no doubt the banks will feel that this rule doesn't apply the them!

Extant

A cheque is a little different of an example to an ATM withdrawal - we're not going to bounce an ATM withdrawal because you've already had the cash, and at the time, had a balance sufficient to withdraw it.

A cheque bouncing is your negligence in failing to ensure there were sufficient funds there before presentation, an ATM withdrawal taking longer than one day is you spending the money twice.

Uncertain

BarclaysManager wrote: »

A cheque is a little different of an example to an ATM withdrawal - we're not going to bounce an ATM withdrawal because you've already had the cash, and at the time, had a balance sufficient to withdraw it.

A cheque bouncing is your negligence in failing to ensure there were sufficient funds there before presentation, an ATM withdrawal taking longer than one day is you spending the money twice.

So what you are saying is that you can debit my account with an amount I have withdrawn from a cash machine on any random date you wish?

Take this to its logical conclusion, how can anybody possibly know how much they can safely spend unless they keep their own detailed bank statement?

Perhaps I should keep my money under the matress, at least I would know the true balance!

Ummm....

Extant

Uncertain wrote: »

So what you are saying is that you can debit my account with an amount I have withdrawn from a cash machine on any random date you wish?

Six years by law.

But no, that is not what I said, at all - re-read my statement. I provided only a reason for why an ATM transaction could not be bounced.

Take this to its logical conclusion, how can anybody possibly know how much they can safely spend unless they keep their own detailed bank statement?

A running tally in your head would do - but yes, a modicum of responsibility should be exercised with finances, and you should indeed know how much you can spend.

Perhaps I should keep my money under the matress, at least I would know the true balance!

Ummm....

Wonderful hyperbole.

Lokolo

Uncertain wrote: »

To some extent, yes.

Had the bank not messed up, the account would have been debited at the proper time, not some random date in the future.

If you send a cheque to somebody and they fail to cash it, the cheque goes out of date in (I think) six months. You should of course keep enough funds in your account to allow for the cheque to be cashed at any point during those six months. Perhaps the same should happen here but no doubt the banks will feel that this rule doesn't apply the them!

So if the machine is a Sainsburys machine (ran by lets say, Bank of Scotland or such), and the person banks with HSBC. Whose fault is it?

djm1972

I'd never notice if a cash machine transaction hadn't gone out of my account so no idea how they could ever hold someone "to account" over it.

I just check that my statements are "ball park" each month and that's it - a £30 withdrawal that didn't get debited would be lost in the noise.