Visa Debit Card

akita_2

I recently used my visa debit card and the payment was taken from my bank account fine - but the exact same amount was also not available for me to draw out of my account. On checking with the bank they say it is visa who are holding this money and can do so for upto 10 days - surely this is illegal. I asked for them to point this out on their terms and conditions for the visa card but was left with stunned silence. The only answer I can get is that it is not illegal yet I am unable to "spend" that money and so where is it and why?

reclusive46

Its only because the merchant hasn't claimed the money yet, the bank closes access to that money as it will probably be going out soon.

miketaff1408

reclusive46 wrote: »

Its only because the merchant hasn't claimed the money yet, the bank closes access to that money as it will probably be going out soon.

But the OP has stated that the original sum has already come out of his bank account, and an additional sum is being held back.

reclusive46

miketaff1408 wrote: »

But the OP has stated that the original sum has already come out of his bank account, and an additional sum is being held back.

Oh sorry missed that. I guess it is possible that the company you bought from puts an extra authorisation on the card. Hotels etc often do this but otherwise I'd make a complaint.

Plxply

I've had this happen before it's often an error when a double authorisation hold is put on. You normally just wait for it to fall off, both the bank and retailer can remove it but they will bounce you between each other.

sharpy2010

Why do so many people think things in the banking world are "illegal" rather than just a mistake, or the way the system works.

People are far to ready to bandy about the word illegal these days.

CLAPTON

sharpy2010 wrote: »

Why do so many people think things in the banking world are "illegal" rather than just a mistake, or the way the system works.

People are far to ready to bandy about the word illegal these days.

maybe because it should be illegal

clearly the implications of one's account being effectively frozen (depending upon the sums concerned) can be very serious indeed;
unable to draw cash, DD might bounce etc.

callum9999

CLAPTON wrote: »

maybe because it should be illegal

clearly the implications of one's account being effectively frozen (depending upon the sums concerned) can be very serious indeed;
unable to draw cash, DD might bounce etc.

I agree with that. I don't know if the current methods of getting them removed are already good enough but they just aren't used properly, but either way, it really should be tightened so if an erroneous hold is placed on your account it can be swiftly removed.

Gromitt

That would involve talking to the supplier, which may not be able to trace the transaction, confusion, errors, mistakes, and lots of administration charges.

Far easier to just wait until the hold falls off.

Maybe worth using a credit card for purchases, or using cash?

societys_child

Gromitt wrote: »

That would involve talking to the supplier, which may not be able to trace the transaction, confusion, errors, mistakes, and lots of administration charges.

Far easier to just wait until the hold falls off.

Maybe worth using a credit card for purchases, or using cash?

Erm . .. so what's the point of me having a debit card?

callum9999

Gromitt wrote: »

That would involve talking to the supplier, which may not be able to trace the transaction, confusion, errors, mistakes, and lots of administration charges.

Far easier to just wait until the hold falls off.

Maybe worth using a credit card for purchases, or using cash?

Heaven forbid, not talking!!! And I refuse to believe that with todays technology, the only way it could be done is through a series of phone calls to dodgy suppliers who, for some reason, are unable to look at their transactions, get easily confused, make mistakes and charge a load of admin charges!

I'm fairly sure someone on here before had problems like this with someone like Thomas Cook. Their bank told them to get Thomas Cook to send them a fax confirming they wouldn't be taking the money and they then released it there and then. That may have just a particularly kind and resourceful bank employee who did that because of the large sum involved (in their case, most their holiday money had been frozen - so obviously they couldn't just sit in their hotel waiting for it to drop off at some nondescript time in the future!) - but I see no reason why that couldn't be the standard?