Co-op Cashminder account query?

z292001

I am currently in the process of opening up one of these accounts. However I have read quite a lot of reviews stating that card transactions do not update until 2-3 days later, therefore they can 're-use' the funds over and over until the system updates!

Can anyone with this account confirm this? The last thing I want is to be getting into more debt by been overdrawn.

drowninginunpayabledebt

I'm going to open one of those tomorrow!

My old bank account sometimes does that. Also I know when I buy fuel at stations that use the "Pay at Pump" facility it takes a couple of days to show up.

The only thing I would say is that it all comes down to you. If you know you had £100 in your account and you've spend £90 then know you only have £10 left. Regardless of what your account says. Trust me - I'm soo bad for this myself - but when you start the next month having to pay back however much you are over drawn it doesn't set you up well.

Good Luck

hotspur_pam

I have one of these accounts and customer services can give you up-to-date balance information. I've not experienced any problems with 're-using' the same funds.

Good luck

lambourne

Why don't you keep account of your own spending - ask for a receipt every time you use the card and write the amount you spent down - you need to take responsibility for your own money not leave it to the bank.

Gothicfairy

Mine does take a couple of days to update when checking online or by phone ( not the customer service live number , the balance number) but I now have the text balance and that seems totally up to date.