First Direct Balance issues

TheShape

One of the things I like about spending on a credit card (virtually the only spending I do on a debit card is £100 p/m with TSB for the cashback) is that I always get the time from statement date to payment date (approx 3 weeks) to be aware what is coming out of my account.

jamie_02

In the 21st century it is ridiculous that decades-old systems at the main banks, couple with ancient work arounds from payment processing systems mean one should continually keep a mental figure of how much is in an account. Those arguing here are apologists for banks refusing, maybe now unable to change their working practices.

Recommendation to the OP: The way debit cards work is explained here http://brnt.cr/3SecSandwich and the explanation is from a new bank called Monzo, which very soon will be open for full business. It is the 21st century equivalent of the e-banks, like Cahoot, Smile, IF and First-e that kickstarted internet banking in the 90s. This year Monzo will launch alongside Starling, Atom and Tandem, and all promise real-time balance updates as standard. It maybe worth signing up for one of these, indeed Monzo is accepting users already.

jamie_02

I'll add... I already use Monzo for day-to-day spending and the balance is updated by iPhone notification quicker than it takes to print the receipt from the till.

SamA19

Thank you for your reply. My available balance is still incorrect, I even called First Direct and they confirmed they had no record of a payment I made for £123 3 days ago and therefore had not been taken off available balance.

I will certainly check my settings with Paypal also

SamA19

Exactly what I am talking about! :T

SamA19

Thank you, interesting read, and will also look into Monzo.

System

The Paypal issue can be fixed relatively easily.
Just use your debit card (as the funding source) instead of the bank account.

Bliss118

I completely agree I switched from Lloyd's to First Direct and I could always very easily see how much I had with Lloyd's the First Direct app is slow and painful will be switching again soon!

FIRSTTIMER

Basically....Barclays have much better systems than FD. Barclays display and deduct transactions as and when they take place meaning your balance is ALWAYS virtually a true reflection of your account.


First Direct don't have this real time in its computer software

brianmoran.me

I'd recommend Starling Bank, they've not opened up to anyone and not just beta. Payments are realtime!