Payments to debit card on a weekend

amybroom

I am waiting for a refund back to my debit card. Is it possible that lloyds tsb may process it over the weekend. It was processed on Wednesday last week and said take 3-5 working days. So I assume it will be Monday or Tuesday next week. But do lloyds process anything over the weekend.

username

I don't think any bank processes anything over the weekend. so you should expect it to be Monday at the earliest.

However, I don't understand why refunding takes so long compared to debiting it from your account. Surely it's the same process but just in reverse?

bengalknights

It will most likely be around tuesday as no banks do weekend clearance.

The reason it takes so long for a refund to be processed is more down to the banks wishing to make money off the suspense account it would be kept in.

hermante

Purchases don't leave your account immediately either, it is just an authorisation on your card which gets processed in the next few days. That's why your available balance and your actual balance are sometimes different. When refunding (credit cards at least) sometimes the available balance will go back up instantly too, but you won't see the actual transaction go through until a few days later.

Gromitt

Some (big) companies process returns on a single day of the week (assumingly so they can do them in batches), so it might not have been even started until Friday and so Tuesday is the most likely.

Sometimes they do the same with payments - an authorisation is taken but the actual payment might not be debited until days later.

property.advert

Gromitt wrote: »

Some (big) companies process returns on a single day of the week (assumingly so they can do them in batches), so it might not have been even started until Friday and so Tuesday is the most likely.

Sometimes they do the same with payments - an authorisation is taken but the actual payment might not be debited until days later.

I think big companies have far too many to bulk them up for a one day a week service. They happen every day but the speed at which they happen varies alarmingly.

M&S seem the best to me, usually in 24/48 hours.