Online banking gives too much priority to "Available" instead of "Actual" balance IMO

djm1972

Anybody else ever thought to themselves that this a little devious / misleading?

Both NatWest and Cahoot online banking screens try to draw your attention to the "Available Balance" of an account - i.e. including overdraft facility, and on more than one occasion I have come close to transferring or using money that I haven't got because of this.

It's not that I needed the overdraft at all, just moving money between current / savings accounts. I think the screens should clearly highlight the actual balance, and then give secondary visibility of the available balance.

I'm pretty sure hundreds of people must have been duped into overdraft because of this, lining their bank's pockets with all the associated fees and interest.

Bromley86

Same with A&L. One of the reasons we'll be moving a/c soon.

Lokolo

And when its the other way round people complain.

"Oh my balance said X but I then went overdrawn because I didn't look at my available banace as that was lower because of what I spent at shopping etc.etc.etc."

You could always remove your overdraft....

Bromley86

That's a different situation Lokolo. That's to do with speed of updating rather than whether the overdraft is included in Available Balance or not.

vet8

What I find a pain is when it says you have £500 in your account and you try to transfer £300 and it then says "insufficient funds"!! because the money has not actually cleared. I cannot see why they cannot tell you what you have really available at this moment.

rolo-polo1965

HSBC do this as well

savagej

I would much prefer to know my available balance instead of my ledger balance, which is my only beef with the Co-op's internet banking. You either have to phone them or go to an ATM to get the value. I find this odd as a programmer myself as all that would be needed is to change the variable in one field and its done.

mr_fishbulb

djm1972 wrote: »

Online banking gives too much priority to "Available" instead of "Actual" balance IMO

Anybody else ever thought to themselves that this a little devious / misleading?

savagej wrote: »

I would much prefer to know my available balance instead of my ledger balance

Whatever the banks do, it will annoy some people. Big nasty banks!

oxenryd

mr_fishbulb wrote: »

Whatever the banks do, it will annoy some people. Big nasty banks!

Exacly !!!
I also would like to add: Just read the whole screen !!

The next thing will be that banks should show your balance in red if it's overdrawn or black if in credit.

It's as if people hate banks but want them to still hold their hands at the same time.

Extant

The banks were giving out free £50 notes, but I got a damn papercut off one! Compensation!

LemonGrove

Facilities such as Lloyds prioristise the available, but simply clicking statement shows the actual balance, but some others don't seem to have facility (or at least, one that's easy to find) which can become a bit annoying. That's the most it becomes to me though, a bit annoying.