Debit card transaction question

username

I've recently got a new debit card from Lloyds TSB and appear to have been able to make purchases with it in the shops and online.

However, it seems that on the internet banking, none of these purchases have shown up in the online statement as amounts debited from my account, although in the total of these purchases seems to have been deducted from the available amount.

Do the day's purchases get 'stored up' and processed in one big hit overnight so that they appear on my statement the next day?

When I took money out of the machine on my savings account, the withdrawls would appear straightaway on the statement.

Is this normal behaviour for debit cards?

reehsetin

i thought some retailers dont take the payment straight away
i remember m&s used to take out like £17 one day but nothing others days
maybe that?

catsneel

normaly the transactions takes 3 days to show up on your internet account

sgx.saint

Hey.

As soon as you normally make a transaction, online or in a shop. It will immediately come out of your 'available balance' as a pending transaction.

Once the transaction has been validated/confirmed it usually then shows on your normal balance and of course shows on your online statement.

username

Cheers for the replies.

Once the transaction has been validated/confirmed it usually then shows on your normal balance and of course shows on your online statement.

Are there any hard and fast rules about the length of time this takes, though? I.e. will transactions made on a Tuesday appear on the statement on Thursday etc? Or is it dependent on the retailer?

Why is there a delay though? I would have thought that it would appear on the statement in minutes, with it being a card transaction and all that.

RayWolfe

username wrote:

Cheers for the replies.

Are there any hard and fast rules about the length of time this takes, though? I.e. will transactions made on a Tuesday appear on the statement on Thursday etc? Or is it dependent on the retailer?

Why is there a delay though? I would have thought that it would appear on the statement in minutes, with it being a card transaction and all that.

As these transactions are recorded electronically, the entry on statements should be the same regardless of retailer. So yes, expect 3 days.
I was surprised when I did my first one that it was not instant ... my bank did advise that the money is effectivly removed from your account immediatly and thus you lose any interest. (Or pay interest if you're running an overdraft.)

Mikeyorks

RayWolfe wrote:

As these transactions are recorded electronically, the entry on statements should be the same regardless of retailer. So yes, expect 3 days.
I was surprised when I did my first one that it was not instant ... my bank did advise that the money is effectivly removed from your account immediatly and thus you lose any interest. (Or pay interest if you're running an overdraft.)

It depends on the arrangement the retailer has with their 'merchant acquirer', who processes the transaction for them. Some will take 2 days, some 3. Occasionally it will take longer and particularly if the transaction is made on a weekend.
The amount is 'reserved' from your account when the transaction is authorised. But you don't lose interest until the amount actually hits your account.

havekidsamskint

I paid my Next cxcount online on the 25th of October by maestro & it came out of my account on the 27th of November...watch out over xmas as they can be longer than usual too.

username

RayWolfe wrote:

As these transactions are recorded electronically, the entry on statements should be the same regardless of retailer. So yes, expect 3 days.
I was surprised when I did my first one that it was not instant ... my bank did advise that the money is effectivly removed from your account immediatly and thus you lose any interest. (Or pay interest if you're running an overdraft.)

Gonna drag this one back up.

I received my first statement the other day (all 9 pages of it - yes there's been lots of activity on the card!!) and all of the dates on the transactions are the days when the money was taken out of the account, not the day which the transaction took place? Is this normal?! :eek:

I thought they used 2 different sets of information to produce statements - as in the online banking would shown when the money actually came out, and the paper statement would show the amount on when I made the purchase and not when the amount came out.

Kilty_2

This is normal yes.

For example I made a transaction using my Lloyds TSB card in Tesco on the 17th, date on statement is 18th.

heppy23

sgx.saint wrote:

Hey.

As soon as you normally make a transaction, online or in a shop. It will immediately come out of your 'available balance' as a pending transaction.

Once the transaction has been validated/confirmed it usually then shows on your normal balance and of course shows on your online statement.

I had a big argument with the abbey about this after getting stuff for charges for not having money in my account.

Let's say I had £100 in my account cleared funds. Available balance £100.

I go and buy £50 of petrol. Account balance £100, available £50.

The next day you would expect balance £50, available £50.

BUT more often than not it would be balance £50, available £0.

There was a lag between the balance and the available balance being adjusted.

I even went into the abbey while the balances were showing up as odd and they couldn't explain it.

Abbey blamed the card companies, card company blamed abbey.

Ended up that I stopped using the debit card.