Weird Happenings - HBOS

MAMS

I'm with the Bank of Scotland and have found some weird things happening on my account.

E.g.

I use my Visa debit on the 5th April, my available balance instantly reduces by the amount and my current balance remains the same (i.e. swipe £50 available = £150 current = £200 )

I check my online banking on the 6th April and same position (available = £150 current = £200 )

Check it on the 7th and now Current = £200 but the £50 payment has been added to my transactions on the 6th April.

I queried it with the bank and they said "if the payment is taken by the retailer on the 6th, it won't clear until between 2am and 6am the next morning when the systems update", should this not mean the transaction is added to the 7th??

It just confuses me when the daily transactions change and after checking my online banking at 00:30 on the 7th it was still at the available = £150 current = £200 position.

Doesn't help when a recent letter from them (after I forgot about a cheque and it knocked me £5 into overdraft) said "We appreciate that nobody likes paying charges and we'd like to help you avoid them in future. To help you we've provided an online banking service that allows you to view an up to date statement of your account, details of your standing orders and direct debits and much more. For full details of the service log on to www.bankofscotland.co.uk."

MAMS

still makes no sense to me that it doesn't clear straight away or on the actual day thy clear it.

(sorry didn't realise re sig so changed it)

MAMS

Now that makes more sense, it just grates on me that they say "use the internet banking as it's up to date" yet it isn't

davidcampbell

on 5th you used your card. your available balance went to £150

on the 6th avaialable was £150. on the 7th available was £150.

your available balance should be £150. wheres the problem?

DC

Walletwatch

What matters is your available balance, so you should be going by it. If it shows £150, it simply means that you have £150 upto which you can withdraw or use for debit card / online transactions. No confusion there??

Having said that, this sometimes takes a wicked turn, as if the merchant doesn't claim the money within two working days, BOS will probably remove the hold on the amount for the £50, and your available balance will thus reflect £200 again. This doesn't however mean that you have the whole £200 available to transact - the merchant can actually claim the money one month later, and your account will be instantaneously debited, maybe pushing you into overdraft, if you don't have sufficient funds at that time to cover the £50 debit. Hence, it always makes sense to keep a parallel tab of your outgoings, and ensuring your account is funded adequately for these...