Visa Debit Card Payments & the Banks

iancalcroft

Is it me or is there something new in the air with the Visa debit system & Banks.

During the economic down turn, my debit card was treated pretty much like I think it should be, "No money" in my account and "No you cannot use it." Simple really!!! Brillaint system i thought as I have not had any Banking Charges against me during this period.

Well, just of late, I have noticed delayed payments entering my account. Now if I pay for something today with cash I can pretty much assume that money as been removed from my wallet. However with the electronic system this is not the case recently.

What the BANKS say "IT IS THE CUSTOMER THAT HOLDS THE PAYMENT." What the Shop says "IT IS THE BANKS THAT DO NOT COLLECT THE PAYMENT." I am not sure who is to blame for what all I am interested in is, why has the system changed to allow for delayed payments? once again allowing for the "BANK CHARGES ISSUE" to rear its ugly head again.

I do hope some one can answer this.

Thanks In advance

Ian :mad:

meer53

iancalcroft wrote: »

Is it me or is there something new in the air with the Visa debit system & Banks.

During the economic down turn, my debit card was treated pretty much like I think it should be, "No money" in my account and "No you cannot use it." Simple really!!! Brillaint system i thought as I have not had any Banking Charges against me during this period.

Well, just of late, I have noticed delayed payments entering my account. Now if I pay for something today with cash I can pretty much assume that money as been removed from my wallet. However with the electronic system this is not the case recently.

What the BANKS say "IT IS THE CUSTOMER THAT HOLDS THE PAYMENT." What the Shop says "IT IS THE BANKS THAT DO NOT COLLECT THE PAYMENT." I am not sure who is to blame for what all I am interested in is, why has the system changed to allow for delayed payments? once again allowing for the "BANK CHARGES ISSUE" to rear its ugly head again.

I do hope some one can answer this.

Thanks In advance

Ian :mad:

Banks don't make Visa Debit payments to retailers. The retailers claim the money from your account using your card details.

If you use your card for a payment, just assume it's gone, same as if you're paying cash, then you won't get any nasty surprises. You've still spent the money, whether it's debited your account or not.

What does the economic down turn have to do with this ? The system hasn't changed.

iancalcroft

Egg

you misunderstand what I have said. Please re-read what I have put. I am aware of what visa is and do however during the down turn I could not go into any unauthorised over draft at all in any way what so ever, which was brilliant. Now we're climbing out of it, we can have unauthorised over drafts and don't so we could because we couldn't. It was my card refused on several occasions during this period. The BANKS and VISA AND WHATEVER SYSTEM is in place are rinsing us yet again. And please do not tell me I managed my monet better either lol

jonesMUFCforever

Egg

Ian but sorry you are wrong.
A visa debit card is just a means to an end safer to use than carry wads of money but you should treat each transaction as cash! By that I mean it is up to you to work out how much you have in your account at the beginning and after the transaction.
This is up to you not the banks if you can't manage this stick to cashpoint cards only and pay for everything with cash.

meer53

iancalcroft wrote: »

you misunderstand what I have said. Please re-read what I have put. I am aware of what visa is and do however during the down turn I could not go into any unauthorised over draft at all in any way what so ever, which was brilliant. Now we're climbing out of it, we can have unauthorised over drafts and don't so we could because we couldn't. It was my card refused on several occasions during this period. The BANKS and VISA AND WHATEVER SYSTEM is in place are rinsing us yet again. And please do not tell me I managed my monet better either lol

Iancalcroft, the banks and Visa aren't rinsing you. If you are incurring charges, then you must be spending money that you don't have.

crazyguy

you should keep an eye or your account and spend only what you know you have, ie, £100.00 buy an item £20.00 you have £80.00 left its called budgeting and allowing for something your purchase and even if it takes a week to come out the the onus is still on you to know what you have.

thenudeone

iancalcroft wrote: »

The BANKS and VISA AND WHATEVER SYSTEM is in place are rinsing us yet again.

Ahhh. I know what's happening now. The banks and the VISA payments system are going into shops and spending the poster's money using their card and PIN. Makes sense now:p

Perhaps the poster should get a VISA electron card rather than a standard debit card, then no-one would ever be able go overdrawn or incur charges. Oh - perhaps we'd then see posts about "I have nothing to eat this weekend because THE BANKS AND VISA wouldn't let me draw any money (that I didn't have)"

Take some responsibility for what you spend. Stop trying to blame everyone else because YOU can't manage your money.

Ben8282

If debit card payments are taking longer than usual to be debited from your bank account, what is the problem? You should be pleased to have the money there longer. And what have bank charges got to do with anything?

pqrdef

Banks are in business to make money from their customers. If you use a debit card when you aren't sure you've got enough money, agreed overdraft included, you're presenting them with an open invitation.

If you don't have the funds, it's then entirely up to the bank whether to decline, or whether to pay out and hit you with unarranged overdraft charges. So they divide customers into two lots. Those considered too risky are declined, the rest are fleeced.

Looks like your credit rating has improved in recent years, moving you from too-risky to fair-game.