Incorrect bank balance

karlie88

Boomfloom wrote: »

This is just what I am expecting of my debit card...

I don't think that's going to change anytime soon I'm afraid.

Wheres_My_Cashback

Boomfloom wrote: »

Before you say it - I do not want to use cash for many reasons. Also, I am not always able to update my budget immediately.

Did something similar happen to any of you? What did you do about it?

There lies the problem. If you're able to spend whenever it suits then you need to manage how much you have left, but NOT when it suits, it should be done immediately or before you spend again.

All of the advice above is good advice, even the TIC suggestions. The banking system is what it is and it's your responsibility to manage your finance with whatever tools are available. One day it might change and instantaneous balance info will be the norm, but whilst it isn't and you know it isn't you have to 'plan' accordingly.

Hazzanet

Boomfloom wrote: »

Hazzanet, I really do not appreciate your sarcasm.

Sorry you feel it's sarcastic.

Boomfloom wrote: »

My asking for advice in no way entitles you to comment on my character. You are belittling me and my problem and it is not acceptable.

Umm, I've given you a solution to your problem; again, sorry if it's not what you wanted to hear.

Boomfloom wrote: »

You do not know my situation and I will not explain it to a stranger on a public forum, so please just take my word for it - I cannot use cash and I cannot always keep the spreadsheet updated as I pointed out in my original post.

Hence my suggestion of a pen and paper. You can update that 24/7 without a computer.

Boomfloom wrote: »

I always pay with my card and the problem is only with Tesco so it has nothing to do with layers of processing or anything of the sort. My bank gives them an authorisation code so presumably they should know how much they authorised it for.

If they are processing below the floor limit, they don't seek authorisation, thus know nothing about the transaction until they are asked to settle it by the merchant provider (i.e. three days later).

Boomfloom wrote: »

I do take responsibility for my bank balance - if I have £100 and spend £200, then I am willingly going into an overdraft. If my bank balance says I have £100, I spent £50 and then it turns out that actually I only had a tenner left so I am £40 overdrawn, then it is their fault for misleading me.

I'm afraid we'll have to agree to disagree, however your underlying issue is you're not fully understanding the system.

Boomfloom wrote: »

Just look at any definition of an available balance is. Eg: "it includes your up to date balance, plus any overdraft you're allowed and takes account of any uncleared cheques or pending payments, such as debit card transactions (POS) coming out (items you have bought recently which are not yet showing on your statement)." My available balance does not take into account pending debit card transactions with Tesco so they are not fulfilling their duty but are trying to blame Tesco for it whereas Tesco blames the bank.

The bank can only update the available balance if they know about the transaction... they don't.

GingerFurball_2

Tesco don't earmark transactions below their floor limit. It has nothing to do with the bank as Tesco don't contact then for authorisation first of all.

p00hsticks

Boomfloom wrote: »

This is just what I am expecting of my debit card...

you want a debit card that permits only 'online auths' then (i.e. has to go to the bank for authorisation before permitting the purchase). I don't believe they're very common any more though (the Visa Electron is one such card, but I'm not aware of many banks that issue them any more).

Ther is a down side to such cards though in that any retailer who is not in a position to be able to approach the bank at the time of the transaction will not accept such a card - this includes many train companies and online retailers.

Midslad27

p00hsticks wrote: »

you want a debit card that permits only 'online auths' then (i.e. has to go to the bank for authorisation before permitting the purchase). I don't believe they're very common any more though (the Visa Electron is one such card, but I'm not aware of many banks that issue them any more).

Ther is a down side to such cards though in that any retailer who is not in a position to be able to approach the bank at the time of the transaction will not accept such a card - this includes many train companies and online retailers.

Halifax do on their easycash a/c

jonesMUFCforever

Why not make it easier for yourself and take cash out for your transactions??

dancingfairy

You could try and keep a float of say £100. Do not knowingly spend below this amount, then if there's something you've forgotten, a direct debit or you've recently been to tesco then you won't go overdrawn.
I can understand it is a complete pain (and ridiculous really in this day and age) not to have an accurate uptodate bank balance but we are stuck with this system so you will have to try and find a way around it somehow.
df

matttye

Cash or notepad / smartphone budget seems to be the way forward here.

Or, do what I do and make sure you've always got plenty in your account, if you can. I rarely forget what's coming out of my bank, but on the rare occasions that I do I've got enough in there to cover it.

colsten

Keeping your own records of every penny you spend on your card is absolutely imperative if you are always sailing close to zero, or close to your agreed overdraft limit.

I know it can be boring and painful to record your decreasing balance and see it disappearing, I have been there myself in the past. Putting your head in the sand and blaming e.g. the bank for not doing your job for you only hurts one person - yourself. Time to get in touch with reality.