Bank Account with no charges on payment declined.

gurinder

Hello All,

I wonder is there any bank account exist which provide Debit Card/Direct Debt facility which decline the payment if funds in account are not sufficent to complete the transaction. This decline should not be occur in any other charges to me.

I wonder if something like this exist or am I asking for a little bit too much.

Many Thanks

IrishGypsy

Unfortunately unless you go for a Solo card (does anywhere even offer them anymore?) you run the risk of the merchant not asking the bank if there's sufficient funds (this is known as the floor limit). This floor limit differs from merchant to merchant (although it's usually for smaller values).

If you trigger the floor limit the payment will be accepted by the merchant for processing later, but because you've recieved the goods/service already the bank are obliged to make the payment clear (even if there's no funds available to do so).

coolesticeking

IrishGypsy wrote: »

Unfortunately unless you go for a Solo card (does anywhere even offer them anymore?) you run the risk of the merchant not asking the bank if there's sufficient funds (this is known as the floor limit). This floor limit differs from merchant to merchant (although it's usually for smaller values).

If you trigger the floor limit the payment will be accepted by the merchant for processing later, but because you've recieved the goods/service already the bank are obliged to make the payment clear (even if there's no funds available to do so).

The Solo brand does not exist anymore and has been discontinued.

If you mean for Debit Card Payments then you require a Bank Account which offers a Full-Auth Card which means you must have the funds in your account - But please be aware, this is not 100% fool proof and it's important that you keep a very close eye on your balance to ensure the transactions have been debited.

An example is the NatWest Basic Bank Account (http://www.natwest.com/personal/current-accounts/g1/basic-account.ashx) which comes with a Full-Auth Card.

If you are on about a Bank Account that does not charge you for missed Direct Debits or Standing Orders, I'm not sure on this sorry.

savagej

I think LTSB and Bank of Scotland offer one although it costs £10 per month. It is a feature called "with control", which is added to a Classic current account.

anniecave

I would only use my debit card if I am sure there is money in my account to cover it....

I take responsibility for my own money. I don't expect VISA or Mastercard or whoever is processing the card payments or even my current account provider to manage my money for me.

Unless you know what is going out and in when, then you might anyway end up in a situation where you buy something for £50 today then you have a standing order or direct debit going out tomorrow, and it would let you buy the £50 but then it would not leave you enough money in to cover the standing order or direct debit....

iesous23

You could just keep a better account of your money, not rely on a piece of plastic to tell you if you have money or not. Not being picky or anything but it just annoys me when people complain about bank charges when they clearly spend more than they have available.

Get a regular debit card, keep check of your money at atm, mobile phone, bank etc and spend if you have money to spend

pmduk

Try using a pen and paper to record your transactions!