Natwest no longer show transactions immediately, do other banks?

MrsNorthman

I rely on online banking to keep on top of my account, budgetting etc. over the last month transactions have been taking longer to appear on my account, payments are reduced from my Available Balance but the details of them are taking a week to show on the transaction details.

Having asked Natwest why, they said they now show the details as they have been finalised by the retailer.

I am used to my transactions showing on my account almost immediately, do every bank do this or is it just Natwest?

molerat

With Santander debit card transactions can take 3-4 days to appear although the available balance is reduced immediately. My Cap1 credit card shows the full details immediately in the pending transactions section (MrsM hates this as I can track exactly where she is shopping ) so the information is available to the bank but they choose not to use it.

dalesrider

MrsNorthman wrote: »

I am used to my transactions showing on my account almost immediately, do every bank do this or is it just Natwest?

NW have changed how their systems work.

So they are inline with other banks now. There is a danger with the way they did it before as just because a transaction has been authorised, it does not mean it will debit.

So you are going to have to keep a eye on the avaiable balance.

MrsNorthman

dalesrider wrote: »

NW have changed how their systems work.

So they are inline with other banks now. There is a danger with the way they did it before as just because a transaction has been authorised, it does not mean it will debit.

So you are going to have to keep a eye on the avaiable balance.

Im finding it really annoying, because even though I'm keeping a note of how much I'm spending and where, the available balance isn't showing the same as what I'm getting it to.

I prefer to use my card, don't like having cash on me but if this is how its going to be then I'm going to have to withdraw the money I need instead (would be great if I didn't have to pay for that privilege too).

Im going food shopping tomorrow and last weeks shop isn't even showing on my account yet!

stclair

MrsNorthman wrote: »

I rely on online banking to keep on top of my account, budgetting etc. over the last month transactions have been taking longer to appear on my account, payments are reduced from my Available Balance but the details of them are taking a week to show on the transaction details.

Having asked Natwest why, they said they now show the details as they have been finalised by the retailer.

I am used to my transactions showing on my account almost immediately, do every bank do this or is it just Natwest?

It "might" be changed back due to the large number of customer complaints so I'd watch this space for now.

If it does not happen you'll just have to keep a closer eye on your spending going forward.

dalesrider

MrsNorthman wrote: »

Im finding it really annoying, because even though I'm keeping a note of how much I'm spending and where, the available balance isn't showing the same as what I'm getting it to.

Well many retailers will authorise for certain amounts. Not what you actually spend.

MrsNorthman wrote: »

Im going food shopping tomorrow and last weeks shop isn't even showing on my account yet!

Well that is the retailer, not the NW that is the issue. That could have happened before.
Just the same as it could happen with any bank.

mrmajika

The only other institution I've known to do this is Capital One.

On my Capital One Mastercard I can click to see all pending transactions. From there, I can see exactly what has been authorised and at what date and time.

I find it a very useful breakdown during the 2 or 3 days it takes to hit the statement.

I wish other companies would do likewise.

cambermam

I've also been really annoyed by this. My available balance is now much less than i think it should be and i'll have to wait days to find out why. Very annoying Would have been nice of them to tell us.

Blackpool_Saver

I hate it too, the only way to watch it is to make your own forward balance type thing

System

Clydesdale / Yorkshire bank still work like this when using Maestro.
Not sure about debit MasterCard though.

innovate

stclair wrote: »

It "might" be changed back due to the large number of customer complaints so I'd watch this space for now.

So we'll then get lots of "how long does it take until my card is credited" "I have not spent the money but it's been taken/stolen from my bank" "FRAUD on my account" "ripped off by Natwest" etc etc etc posts.

I hope Natwest will not succumb to pressure.

People do have to learn to assume 100% responsibility for their financial affairs.