Quick Co-Op bank question

davidgmmafan

Not about their finances!

Noticed something strange over the last few days which was different to the usual lucky dip of balances looking different depending where you look.

The cash machine showed a significantly different available balance to online.

After around 3 days the two are back in synch. The difference was the exact amount as a few online payments I had made but (and this is crucial) the payments had already been taken.

When I rang the co-op bank they couldn't give me any details of the pending payment.

As I say it ultimately resolved itself, and I am familiar with the practice of retailers reserving funds before they have taken a payment. However here the payments HAD been taken. It was almost like they reserved it twice in error.

Is it worth contacting the company to enquire further? Or is it just one of the mysteries of the Co-op?

chuckley

its a coop thing. ive had it happen a few times with different retailers. i stopped using the card for online shopping. couldnt handle the 'missing' money being away for a week.

coop is trash anyway they dont do available balance, even at cashpoint, they'll only show if u have enough to withdraw £10.

I_luv_cats

Some ATM machines will show your avail balance.

I use their handy text-service (82667) which give up-to-the-minute available balances.

Just register for it by phoning up.

chuckley

i dont have time for texts, atms and the like. if i have an online account I want to sign in via the app and see the up to the minute balance.

RBS and Nationwide manage this perfectly, but co op is above and beyond useless.

opinions4u

chuckley wrote: »

i dont have time for texts, atms and the like

Yet you have time to post about your online surveys?

JuicyJesus

opinions4u wrote: »

Yet you have time to post about your online surveys?

In fairness to the OP, the Co-op's systems ARE dire, and having to go to the ATM to get an accurate available balance is ludicrous in this day and age.

Archi_Bald

JuicyJesus wrote: »

having to go to the ATM to get an accurate available balance is ludicrous in this day and age.

relying on a bank to tell you what your available balance is what is really ludicrous!

The "available balance" your bank will show you (by whatever means) may be £1,000 at 9pm tonight, but it won't show the, say £500, Direct Debits that will be taken between now and 6am tomorrow morning. Thus spending £1,000 tonight will definitely send you overdrawn, or worse.

When will people learn that they have to keep track of their finances themselves?

Anthorn

Similar problem: I attempted to clear my Vanquis balance using my smile debit card. smile declined to make the payment and hit me with an automated anti-fraud phone call and the information that I would need to contact the payee to see if I need to make the payment again. So now I'm in a state of limbo for a few days while I wait to see whether the money is still in my account or whether it is on hold or the unlikely event that the co-op will respond to my inquiry about it.

chuckley

opinions4u wrote: »

Yet you have time to post about your online surveys?

that was last updated some 3 years ago...

chuckley

Archi_Bald wrote: »

relying on a bank to tell you what your available balance is what is really ludicrous!

When will people learn that they have to keep track of their finances themselves?

yea coz on a day shopping you really remember the market, coffee shop, library, supermarket and x5 clothing shop purchases every second?

Wake up please.

Anthorn

Archi_Bald wrote: »

relying on a bank to tell you what your available balance is what is really ludicrous!

The "available balance" your bank will show you (by whatever means) may be £1,000 at 9pm tonight, but it won't show the, say £500, Direct Debits that will be taken between now and 6am tomorrow morning. Thus spending £1,000 tonight will definitely send you overdrawn, or worse.

When will people learn that they have to keep track of their finances themselves?

I think you may be missing the point: The available balance is not available in the Co-op online banking at all. Only actual credits and debits appear. For example in my case where the Co-op bank failed to authorise a debit card payment even though there were more than sufficient funds in credit because they thought it was a fraudulent transaction: The funds consequently placed on hold after I told them I authorised the transaction will never be shown in the online banking statement nor reflected in the balance in telephone banking because it's not a debit. I would have to go to an ATM to see the available balance. In any case, actual debits whatever the means of payment typically take 3 days to appear in Co-op Bank online and telephone banking.