A Bank Account With No Overdraft - EVER?

dalesrider

sunflower wrote: »

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i think my card is an "online" one & always needs authorisation - although it does work in the pay at pumps.
you could try asking for one of these cards :A

If you card works in [EMAIL="P@P"]P@P[/EMAIL] then you do not have a full auth card. You have a normal debit card.

To use pay @ pump requires authorisation of the card, this is for usually around £1. It will them debit for the full amount.
[EMAIL="P@P"]P@P[/EMAIL] has a zero floor limit so no auth = no fuel.

pqrdef

Banks will always make guaranteed payments, even if you haven't got the funds.

They may try not to give guarantees without putting the money on hold, but accidents can happen.

If your account doesn't have a debit card, then it's quite hard to go overdrawn.

However, all debit card payments are guaranteed. This is where the trouble starts. The common cases are
(1) merchant is late claiming a payment. By that time, the bank has released its hold on the money and you've spent it on something else
(2) continuous payment authorities - you pay some monthly bill by card instead of Direct Debit. Or you use it for insurance or gym membership and a year later they take an automatic renewal. So a card payment claim comes in and there's no money on hold for it..

In these cases the bank will make the payment even if you're paying for a control account.