How long can a shop take from authorising a debit card payment to taking it out?

Johanne83

I bought some lego for my sons birthday on 28th march. I used the chip and pin and the payment was authorised. I assumed the payment had gone through and didn't think otherwise. I got an e-mail from them yesterday as they took my details due to posting the item to me, advising that they had a problem with payments this day and they weren't actually collected. I know the whole process of authorisation and settlement but how long can they wait to collect the payment from the account, surely 6 weeks is just too long. Should they be holding my bank details for this long?

I don't mind paying obviously but I got a days notice to say it would be coming from my account the following day.

Thanks, I think I just needed to rant x

reclusive46

Visa gives merchants 6 months to settle transactions. MasterCard gives merchants slightly longer and American Express a little bit less. So yes basically they can charge it now.

YorkshireBoy

I believe it's anything up to 6 months, but providers could chargeback for 'late presentment' before then possibly?

reclusive46

YorkshireBoy wrote: »

I believe it's anything up to 6 months, but providers could chargeback for 'late presentment' before then possibly?

I'm pretty sure the late presentment chargeback is the chargeback code used after the 6 month period (or whatever the period of the card network is)

gik

Up to six months as above...but they can take it up to six years but after six months they need to contact you in writing to inform you I understand.

Whiner

Johanne83 wrote: »

I bought some lego for my sons birthday on 28th march. I used the chip and pin and the payment was authorised. I assumed the payment had gone through and didn't think otherwise. I got an e-mail from them yesterday as they took my details due to posting the item to me, advising that they had a problem with payments this day and they weren't actually collected. I know the whole process of authorisation and settlement but how long can they wait to collect the payment from the account, surely 6 weeks is just too long. Should they be holding my bank details for this long?

I don't mind paying obviously but I got a days notice to say it would be coming from my account the following day.

Thanks, I think I just needed to rant x

Rant about what?

Johanne83

Thanks everyone for responses. It was really helpful x

JKSandy

This was a message I got from HSBC regarding a card payment last year., they never elaborated on "later"

"Also, please note that the pending transaction will be removed from the authorisation status automatically and the funds would become available to use, if the retailer or the beneficiary bank do not claim the payment within 3-5 days. However they can claim it later, if they do have the authorisation code"

SeduLOUs

I was wondering this as I made a purchase in mid-April that still hasn't appeared on my bank statement, and the 'available' funds don't seem to be being held anymore by my bank.

If it weren't for my more detailed recent budgeting I could very well have got caught out by this if and when they finally charge my debit card, but for now it's just a really annoying uncleared payment!

Actually. I'm about to close the bank account in the next few weeks. Where does this stand if they attempt to take the money at a later date but the account and debit card are closed? The retailer has none of my personal information as far as I am aware...

reclusive46

SeduLOUs wrote: »

Actually. I'm about to close the bank account in the next few weeks. Where does this stand if they attempt to take the money at a later date but the account and debit card are closed? The retailer has none of my personal information as far as I am aware...

Generally they will debit your account, which will reopen the account and it'll go into an unauthorised overdraft.

SeduLOUs

Won't the bank just bounce it if the bank account doesn't exist though?

I'm not trying to get away with it, but I'm genuinely closing the account anyway and don't want to wonder for months if it has magically appeared but I don't know anything about it.

Sure my bank will just bounce the transaction as the funds aren't available and the card is deactivated?