Used debit card in Sainsburys on Fri night. How long to go out?

jma21

As the title says (if it all fitted in). I paid for my shopping in Sainsburys at about 4:30 on Friday. Paid some money into Santander today via cashpoint as the queue was too long for the counter (takes 2 days to go in for some strange reason). On having my card refused in tesco today I've checked my balance and realised that I will be overdrawn (unauthorised) when the Sainsburys payment goes out due to my cash not being in my account in time. I am just keeping my fingers crossed that the Sainsburys payment doesn't go out Monday morning so that I can get to the bank at 9:00 and pay in some more cash (while I ridiculously wait for the cash already in there to clear!!!) Anyone work for the clearing dept at sainsburys? Please tell me no-one does anything with the payments until some time on Monday?!!

MME_2

jma21 wrote: »

(while I ridiculously wait for the cash already in there to clear!!!)

This cash has to be physically checked and the clearance removed by a member of staff. Cashpoint deposits aren't like IDMs where the machine counts the notes; all you are doing is putting notes in an envelope and typing an amount in.

2-3 working days is a good rule of thumb for debit card txns.

coolesticeking

No doubt Sainsburys asked for authorisation at the time of the sale? Wouldn't this mean it's already been taken if this is the case and just not applied to the account as of yet?

Do Santander back date as such debit card transactions with a Date of Transaction and Date Applied to Account?

I don't bank with Santander, just trying to think out the box! (No doubt failed!)

MME_2

The transaction may have been earmarked but there still needs to be available funds in the account to avoid overdraft fees (I don't know Santanders specific conditions - do they allow up until x o'clock to pay funds in that same day to avoid charges?) A cashpoint cash deposit is not cleared funds until it has been checked which should be by the next working day.

jma21

Thanks for all replies. Looks like I'll be getting charged then but will know for sure tomorrow. I shouldn't be too bothered as have only ever been charged once and that was their error, but I hate the thought of them getting their hands on my hard earned money! Fingers crossed for tomorrow. Re the cash machine deposit - I know it has to be physically counted and cleared, but surely this is done at the end of every working day? If I pay a cheque into the cash machine in an envelope it takes an extra 2-3 days to go into my account, but if I post it into a box in an envelope next to the cash machine, it is paid into my account before the close of business (still has to clear obviously) so why does it take longer for cash machine deposits? I just don't get it.

MME_2

jma21 wrote: »

Thanks for all replies. Looks like I'll be getting charged then but will know for sure tomorrow

I can't see this Sainsburys payment going out as early as tomorrow so you should be OK if you are going to pay more cash in. You shouldn't need to anyway really because Santander should process their ATM deposits from the weekend first thing tomorrow ideally.

jma21 wrote: »

but surely this is done at the end of every working day?

It is, but Saturday is not a bank working day even though the branch is open - does the ATM not tell you that it will be processed the next working day when you are paying it in?

jma21 wrote: »

If I pay a cheque into the cash machine in an envelope it takes an extra 2-3 days to go into my account

It should only be 1 extra working day because the cheque is sat in the ATM overnight waiting to be processed by staff the next morning.

jma21 wrote: »

but if I post it into a box in an envelope next to the cash machine, it is paid into my account before the close of business

DepositPoints are a different story and can usually be opened by staff during the day therefore they are processed the same day. They usually have a cut off time though (3:30-4.00) for same day processing.

jma21

MME wrote: »

does the ATM not tell you that it will be processed the next working day when you are paying it in?
QUOTE]

No, it says payments made into cash machine will take 2 days longer than those made over the counter and this is the same whether I pay it in on a banking day or a non-banking day.

Anyway, thanks for your comments - I do hope you're right about the timings. That is sort of what I was thinking so fingers crossed.

MME_2

jma21 wrote:

MME wrote: »

does the ATM not tell you that it will be processed the next working day when you are paying it in?

No, it says payments made into cash machine will take 2 days longer than those made over the counter and this is the same whether I pay it in on a banking day or a non-banking day.

Anyway, thanks for your comments - I do hope you're right about the timings. That is sort of what I was thinking so fingers crossed.

Seems a very long time but might have something to do with Santander not being on the same clearing system as the other 'main' UK banks.

rb10

MME wrote: »

Seems a very long time but might have something to do with Santander not being on the same clearing system as the other 'main' UK banks.

Nothing to do with that at all.

Anyway, despite them not being on the Bank Giro Credit system, they are still a 'main' UK bank and otherwise process payments in exactly the same way.

It's just the length of time that they choose to make you wait before making the funds available, in exactly the same way as HSBC will make you wait an extra day if you pay a cheque in at a machine rather than at a cashier.

MME_2

I didn't think Santander were on 2-4-6 like other banks?

Edit: scratch that, they are. Re HSBC, don't they all say add an extra day because the machine isn't emptied until the next working day anyway? So why is Santander 2 extra days.

rb10

MME wrote: »

I didn't think Santander were on 2-4-6 like other banks?

Every bank and building society is required to be on at most 2-4-6.

(Some will do less than this, e.g. Halifax do 0-3-6, but 2-4-6 is the maximum time permitted).