Is my bank really slow or what?

charlie792

Each time I transfer money out of my account somewhere, for example say today I take money out. Then tomorrow I put money back in. The amount going in always seems to show on my statement before the amount going out, needless to say I always think I have more than I do....

CLAPTON

which bank
how do you transfer money out
how do you trnasfer money in

charlie792

Natwest

Well for example several of the last ones have been debit card transactions. I bought something in a shop (so money out) but got refunded (so money in) but the refunded amounts have gone into my account before the initial transaction has left my account....Others are POS - but Ive no idea what that means....

dzug1

It's more likely the retailer being slow (or fast) in putting the transactions through than anything the bank does.

zppp

charlie792 wrote: »

Natwest

Well for example several of the last ones have been debit card transactions. I bought something in a shop (so money out) but got refunded (so money in) but the refunded amounts have gone into my account before the initial transaction has left my account....Others are POS - but Ive no idea what that means....

POS = Point of Sale = Card payment

Retailers have up to six months to debit the funds from your account using the authorisation code sought at point of sale. With Natwest, they will only hold onto the transactions from your available balance for 48 hours, afterwords the funds will become available. It will be properly debited when the retailer presents for payment.