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

reclusive46

SeduLOUs wrote: »

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?

The bank can't bounce the transaction when its already give authorisation to a merchant, they'll just reopen your account and debit it.

bengal-stripe

SeduLOUs wrote: »

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

No, they won't!

They have given the merchant an authorisation (valid for 6 months) that the money is available. The bank will have to honour that authorisation. You don't expect the bank to pay it themselves as you have closed the account?

CKhalvashi

gik wrote: »

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.

This was my understanding.

There was something on MSE at some point from the same time in the previous year, being sent in writing.

CK

SeduLOUs

bengal-stripe wrote: »

No, they won't!

They have given the merchant an authorisation (valid for 6 months) that the money is available. The bank will have to honour that authorisation. You don't expect the bank to pay it themselves as you have closed the account?

No I don't expect the bank to pay it.

If the bank write to me about it ask me to reimburse them I will do so happily, but I don't see how they can reopen a bank account, AND throw it into unauthorised overdraft without any authorisation from me to do so.

It isn't my fault a retailer has failed to claim the money in a timely manner. I'm happy to pay what I owe, but I'm not happy to cancel my plans and leave an account open for the next 6 months just so that they can take the money when they feel like it.

If I could close the account and leave the £40 behind for this transaction I would, but the bank won't allow the account to be closed then.

sleepymans

Just close the bank account when all the transactions you have authorised have cleared....simples. Until they have all cleared leave sufficient funds in the account....simples.

SeduLOUs

I would, if it wasn't a joint account with someone I no longer want to have a joint account with, so not simples.

I'm not trying to avoid paying for my shoes, but I'm not willing to leave the account open for potentially the next 6 months with £40 in because I can be certain that £40 won't still be there when the retailer finally gets around to claiming it.

The other alternative is to leave it open with zero balance, again trusting that my 'partner' doesn't do anything silly with the account in the meantime, then log in every single day to see if the transaction has gone through, then transfer the money, and then close the account. It's not exactly ideal...