real time balance

bigadaj

notafan wrote: »

It already is 100% possible 100% of the time - full auth cards. Your telling me its not by giving me examples of when offline cards would also be effected - like a power cut or patchy reception.

You dont need to tell me the difficulties or wait for it to sink in. We disagree and thats fine.

They already do it - they just dont do it for everyone currently because it suits them.
Banking is currently running on a bunch of legacy systems from decades ago and i might be in the minority but i'm happy to aspire to having a better bank thats useful, informative and has an amazing customer experience.

I'd hate to have a "this is as good as it gets mentality!" and if everyone did nothing would change.

Well if you pay your PA to keep all your spending records then problem solved!

notafan

colsten wrote: »

This is my last contribution to this thread. Just to let you know that you are wrong once again, as concluding that because I use Windows XP doesn't mean I only use Windows XP. You have absolutely no idea how many different OSs I use, how many devices I use, or what my technical and business abilities are.

Suffice to say that my decades of experience with large scale, often multi-national, IT projects help me spot techno-geeks who would do anything for technology's sake and who have little or no perception of the business case for what tickles their technological fancy.

Did you work on any legacy banking systems by any chance :rotfl:

notafan

bigadaj wrote: »

Well if you pay your PA to keep all your spending records then problem solved!

not very money saving though:beer:

AnotherJoe

notafan wrote: »

Ofcom auction required 98% coverage for one operator for 4g.

Every house is getting a smart meter which will use mobile to send data - hows that happening?

In many places, it wont. (this is one of the numerous issues with smart meters so thats not exactly a stunning example to choose)

and the 98% coverage would be of the population not geography which means huge areas omitted.

Apodemus

AnotherJoe wrote: »

In many places, it wont. (this is one of the numerous issues with smart meters so thats not exactly a stunning example to choose)

and the 98% coverage would be of the population not geography which means huge areas omitted.

Yes, we've been here before! 98% means you can stop at Perth and miss out the tricky bits that need lots of investment for few customers.

What is often missed in this sort of debate is how much the systems rely on duplication and back-ups which only exist in more densely populated areas so that local outages are barely noticeable.

A couple of years ago a fibre-optic cable outage in the north west meant that fuel stations, supermarkets etc could only accept cash, ATMs couldn't operate and nor could the banks. Few people had sufficient cash in hand to buy anything. It also put the phone network out and the mobile system became unreliable (probably due to the huge transfer of calls from landline onto a limited mobile network) this put people at further risk as it would have been difficult to make a 999 call. At times we forget just how much we all rely on modern communication systems and how little resilience we have when a small part of it fails.

However, back on topic, my view would be that we will gradually move to an almost completely instant system, it will be much better than the current one, but it will never be 100% and the banks will never guarantee it!

Cliecost

For the past week and a half I have been using the Revolut card both in France and over here. Every single time I made a payment, whether it be online or in person with the card, the payments came through instantly and the balance was updated straight away.

Literally instantly every single time.


Is this really not something every single bank can do?

Stevie_Palimo

notafan wrote: »

Ofcom auction required 98% coverage for one operator for 4g.

Every house is getting a smart meter which will use mobile to send data - hows that happening?

It can send the small amount of data it would need to via 2g/3g/4g it doesn't need to download a feature length film - the size of data it would send would be tiny - which is why some terminals run on dial up still.

Again in case it is not clear enough what happens in the event of a power cut in a certain area where they update the accounts ????

Also very simple measure in place here spend what you know you can afford and do not go over it, There is no pen and paper required as all you do is say I earn x per week/month and pay my bills therefore I have x to live on per day/week/month.

This is as straight forward as it can be and arguing the toss as to why you believe alone that this is such as easy task to bring into place is simply beyond me, Balances and payments being made will never go hand in hand and show in an instant so get used to it and learn to spend your money more wisely.

JGUK

Revolut is an online prepaid card so it wouldn't specifically work in loads of places in France.

(Motorway Tolls, unmanned petrol stations - which can really get you if you're running low on petrol in France, some ticket machines, some french supermarkets)

Which is another point no one has mentioned, travel, half the world still does signing for stuff, and online transactions are simply not feasible in a lot of less developed countries.

steve65e

I topped up Revolut twice yesterday from different cards, It showed instantly with Yorkshire Bank but took two days with TSB, not even showing in pending payments.

Haven't used it abroad yet. Wish me luck!

Cliecost

steve65e wrote: »

I topped up Revolut twice yesterday from different cards, It showed instantly with Yorkshire Bank but took two days with TSB, not even showing in pending payments.

Haven't used it abroad yet. Wish me luck!

I used it for nearly every transaction in france when I was there. Every single one worked and showed instantly.