nationwide, paid item fees & faster payments scheme

simj37

Hello all.

I have a Nationwide cashcard plus account and recently opened my statement to find that I have had 5 paid iem fees totaling £75.

When it comes to banking im quite carefull to ensure that there is suficient funds available to cover debit card payments.

last month I transfered money from another account using the faster payments scheme and was showing as an available ballance on internet banking before i made the card transactions.

On closer inspection it appears that nationwide have put the card transactions before the payment into my account, even though it was the other way around.

I have spoken to the nationwide about this but they wont refund the charges.

Any advice would be appreciated.

many thanks

noh

For direct debits and standing orders sufficient cleared funds need to be in the account by the end of the working day before the outgoing payment.
For card payments this isn't the case you just need cleared funds available when they are made.

Debits are allways shown before credits, that is standard accounting practice and is not the reason you have been charged.

Are you sure that the charges relate to card payments you made when you had sufficient cleared funds and not to any DDs or SO made when there wasn't sufficient cleared funds available by the end of the previous business day?

Take a look at the FAQs here:-
http://www.nationwide.co.uk/current_account/managing_your_account/faqs.htm

"If you have a Direct Debit, Bill Payment, standing order or cheque payment due to come out of your account, you need cleared funds in your account before close of business on the working day before the payment is due. You can also find out more details about when cheques you are paying in to your account clear with our cheque processing calculator."

simj37

noh wrote: »

For direct debits and standing orders sufficient cleared funds need to be in the account by the end of the working day before the outgoing payment.
For card payments this isn't the case you just need cleared funds available when they are made.

Debits are allways shown before credits, that is standard accounting practice and is not the reason you have been charged.
Are you sure that the charges relate to card payments you made when you had sufficient cleared funds and not to any DDs or SO made when there wasn't sufficient cleared funds available by the end of the previous business day?



"If you have a Direct Debit, Bill Payment, standing order or cheque payment due to come out of your account, you need cleared funds in your account before close of business on the working day before the payment is due. You can also find out more details about when cheques you are paying in to your account clear with our ."

No direct debits/ standing orders on the account, no cheque book either as the account is cashcard + account without cheque book facility.

The 5 items relate to debit card transactions. there were suficient available funds in the account as I made sure 10 minutes before by transfering money by faster payment method, and yes this was showing as an available ballance as opposed to account ballance

noh

simj37 wrote: »

No direct debits/ standing orders on the account, no cheque book either as the account is cashcard + account without cheque book facility.

The 5 items relate to debit card transactions. there were suficient available funds in the account as I made sure 10 minutes before by transfering money by faster payment method, and yes this was showing as an available ballance as opposed to account ballance

In that case I would contact them again. State your case ie that cleared funds were available before you made these card transactions therefore no chatges should be applied.

If you still get nowhere raise a formal complaint in writing.


When you called them previously what was their explanation of the charges?

The T+Cs of the account are here:-
http://www.nationwide.co.uk/pdf/current_account/P857.pdf

paragraph 9 says

"Deposits, withdrawals and interest (excluding cheques)
9. Cash and automated credits deposited into the account will be
available for withdrawal immediately and interest will be earned
from the date of deposit. There may be a delay of one working day
if deposits are made at a Nationwide cash machine........"

simj37

noh wrote: »

In that case I would contact them again. State your case ie that cleared funds were available before you made these card transactions therefore no chatges should be applied.

If you still get nowhere raise a formal complaint in writing.


When you called them previously what was their explanation of the charges?

The T+Cs of the account are here:-

paragraph 9 says

"Deposits, withdrawals and interest (excluding cheques)
9. Cash and automated credits deposited into the account will be
available for withdrawal immediately and interest will be earned
from the date of deposit. There may be a delay of one working day
if deposits are made at a Nationwide cash machine........"

Thanks noh will phone again today.

when i rang the other day the customer rep kept talking over me saying that I should ensure that I have sufficient funds to pay for card transactions, even though thats what i did.

What I dont understand is that with this type of account, Basic cashcard plus, if you dont have the funds available then it will normally decline a card transaction.

Anyway will report back and let you know the outcome.

Many thanks