Debit card and 'reserved' money

skeggysteve

Many thanks for all the replies.

Money has got to the company I wanted to pay - had to check online banking to find out!

BUT

If the banks can reserve the money almost instantly than why can't they just transfer it?

davidcampbell

If the banks can reserve the money almost instantly than why can't they just transfer it?

the simplest answer is the bank cant send it because they dont know comapnys sortcode/account number as this isnt supplied on a vp authoirsation (because it isnt needed). responsibility still falls with retailer to TAKE it as opposed to bank SENDing it.

if company gave you their bank sortcode/acc number then you could send it over to them through BACS but this would kinda defeat the point of having a visa system.



hth

DC

mippy

this has happened to me with Abbey. I spent £100 in a shop and the shop had to call for authorisation as I rarely spend that much at once! Consequently I was charged twice, and £200 left the account. While the money left my account to float about in the financial ether a cheque bounced and I was charged. I got the charges reversed but it was a pain for the cheque people and for me.