Mobile App that Shows Pending Transactions

s00tie

Hi,

Long time reader, first time poster

We've been with First Direct for many years and only after spending a year in Australia and using Suncorp as our main bank have I realised just how poor their online / mobile banking actually is.

The main thing I liked about Suncorp is that you could see an accurate picture of your bank account even if payments hadn't been fully processed as they showed as 'Pending' both on internet banking and their mobile app. These would usually be showing on the app before we'd left the shopping center.

With First Direct, transactions sometimes take a few days to process and appear on your account meaning the balance you're looking at may not be accurate.

Is this a UK banking limitation or is it just a First Direct limitation?

If it is a First Direct limitation, could someone recommend a better option that gives us what we want please?

Thanks in advance.

eskbanker

It's more to do with offline versus online processing - if you're making payments with an online card then they're authorised by the bank in real time so they know what's pending. However, if you have an offline card and you make purchases below a retailer's floor limit then the bank is unaware of the transaction until the merchant submits it for settlement, which can be days, weeks or even months later in theory.

colsten

s00tie wrote: »

The main thing I liked about Suncorp is that you could see an accurate picture of your bank account even if payments hadn't been fully processed as they showed as 'Pending' both on internet banking and their mobile app.

All banks will always show you an accurate picture of your bank account - - - but

No bank will ever be able to guarantee to show you an accurate picture of your finances.

Huge difference.

As you can always have card payments a retailer will not have reported to the bank, and/or commitments in the form of SOs and/or DDs that will not be reflected in your online transactions until they have actually been processed against your account.

Your bank account will be a reactive reflection on what you have spent, sometimes days after you have spent the money. It is not instant.

If you want to be proactive - and you should be - you need to record your expenditures, and also your commitments (SOs, DDs) yourself.

pmduk

The best mobile way of showing what is in your account is the traditional pen and paper.

s00tie

Thank you for the replies but I can assure you that these delays did not exist in Australia. As soon as transactions were made either by card, atm withdrawl, transfer or by standing order / dd they were immediately visible within both the mobile app and/or online banking website.

We have managed our finances for years using products like ms money / quicken and even Excel so I was very impressed when I saw how the Suncorp app worked.

The key was that some transactions appeared in the app immediately where as others appeared at the top as pending transactions. I was amazed by this and in 12 months out there didn't see any exceptions.

Unless some of your answers are based on international experience, it's sounding like this is indeed a UK issue, in which case I don't see much point in changing banks.

reclusive46

s00tie wrote: »

Unless some of your answers are based on international experience, it's sounding like this is indeed a UK issue, in which case I don't see much point in changing banks.

Australia is an online market, almost all transactions are authorised in real-time, in Europe this is less common.

s00tie

Thank you for the reply, this has confirmed what I suspected.

Mrs_Ryan

My TSB mobile banking shows me pending transactions but the app doesn't.

MARTYM8`

Ignoring their other limitations I am amazed at the speed that transactions are posted by Clydesdale/Yorkshire - debit card payments made on other sites/in shops appear almost instantaneously on the app and internet banking! Pending is rare - it just goes straight there - with fuller details the next day.

colsten

MARTYM8` wrote: »

Ignoring their other limitations I am amazed at the speed that transactions are posted by Clydesdale/Yorkshire - debit card payments made on other sites/in shops appear almost instantaneously on the app and internet banking! Pending is rare - it just goes straight there - with fuller details the next day.

Try YB/CB faster payments at weekends, then tell us whether you are still impressed with when they show in your transactions.

secondtoughest

Payments on my RBS card show up on my app's balance instantly (apart from contactless) but my HSBC app only shows up transactions about 2-3 days alter.

The HSBC app has only recently improved from being a total write off to just slightly above terrible. The Santander app and general online banking is an absolute dream - so user friendly.