Transaction error leading to me with no funds

anniebanannie

Hi, looking for some advice please.
I bought a laptop 5 days ago using £200 gift card and £90 from my debit card. The purchase was from a large store and completed by telephone.
A couple of nights ago I discovered the account I had used was short and could not find a transaction which would account for it. I did not have enough funds for my next days mortgage payment and had to transfer money from my other account (knowing it would become overdrawn the next day however mortgage would be paid) this left me with £1.08 and my other account -£10 the following day.
The next day my bank informed me that the £90 had been devoted and a further £290 debit was pending.
I called and emailed my complaint and was offered sincere aplologies but there had been an IT error and the transaction was cancelled soon after so the company at no time had my money so could not give it back! The bank advised as the payment was pending it could take up to 4 days for the money to be available to me.
I feel shocked that this happened and it left me with no money. In fact I had to borrow money from my mum for my shopping!
Do I have grounds to go further with my complaint?
Sorry it’s a bit long winded but any advice would be most grateful. Thanks

Gary123456790

Hi,

Its an unfortunate situation and the retailer might give you some kind of good will refund if you ask, and explain that their error has caused you other problems, however I think if you bought a laptop and left yourself with only ~£280 after paying your mortgage then you need to seriously consider building up a contingency fund in case of emergencies.

What if the car (if you have one) / boiler / washing machine breaks - how are you going to pay for it to be fixed?

By the sounds of it you're running your finances right up against the wire and its just bitten you.

Gary.

BorisThomson

It's not unusual for the full amount to be ring fenced until the transaction is completed.

How much compo are you looking for?

theonlywayisup

It happens. It's not ideal, but you should not be leaving yourself with no contingency.

JamoLew

Slightly harsh replies.
Many people here would love to have as much as £250 left every month after paying their bills

The OP has (I assume) incurred overdraft fees through no fault of hers

Argos have admitted to an IT error which ultimately caused these fees

Argos should "compensate" for fees paid caused by their error

anniebanannie

Thank you JamiLew. I came on the forum for advice regarding a consumer issue and not to be judged on how I conduct my finances.
I have escalated my complaint and am hoping to have my overdraft fees recompensed.

Fluffybunny80

It's standard on here OP it's generally the reason I read but rarely post
Good luck I hope you at least get a small goodwill token.

unholyangel

JamoLew wrote: »

Slightly harsh replies.
Many people here would love to have as much as £250 left every month after paying their bills

The OP has (I assume) incurred overdraft fees through no fault of hers

Argos have admitted to an IT error which ultimately caused these fees

Argos should "compensate" for fees paid caused by their error

Harsh perhaps but its still a wise thing to do - appliances will break down and need replaced. Even saving £1 a week means when that appliance comes to the end of its life, you should have enough money to replace it without having to worry. Although OP perhaps has saved up for that one as its not like they bought it on credit card. I'm not judging the OP, just promoting budgeting because I know it particularly helps those are in financial hardship/living within tight budget restraints. When I was younger I was terrible with money (had plenty and spent it needlessly), I earn less (and work less thankfully) now but I have far more savings now than I did then.

As for OP's issue, OP....what your bank didn't tell you is that if the seller had contacted them to tell them they weren't going to claim the 2nd payment, your bank could immediately lift the ringfence.

If the funds haven't been returned already, perhaps do this and/or raise a complaint with your bank first and foremost. If they give a final response or 8 weeks pass without a response, you can then refer it to the financial ombudsman.

Its not clear from your post, but will you incur unauthorised overdraft charges? If so, banks will sometimes waive these (especially if you don't have a history of it and it is a genuine 1 off) so might be worthwhile asking. Have you suffered any other losses?

PLYSU

The way the OP has been replied to on here is nothing but a disgrace. YOU ALL SHOULD BE ASHAMED OF YOURSELVES. This is not a money diet class.

Hermione_Granger

PLYSU wrote: »

The way the OP has been replied to on here is nothing but a disgrace. YOU ALL SHOULD BE ASHAMED OF YOURSELVES. This is not a money diet class.

Good grief.
I now see where the term 'snowflake generation" and getting offended on behalf of others comes from.
Do you really think that the replies below are something to be ashamed of? because to me they look just like people giving financial advice.

Gary123456790 wrote: »

I think if you bought a laptop and left yourself with only ~£280 after paying your mortgage then you need to seriously consider building up a contingency fund in case of emergencies.

What if the car (if you have one) / boiler / washing machine breaks - how are you going to pay for it to be fixed?

By the sounds of it you're running your finances right up against the wire and its just bitten you.

Gary.

theonlywayisup wrote: »

It happens. It's not ideal, but you should not be leaving yourself with no contingency.

k3lvc

PLYSU wrote: »

The way the OP has been replied to on here is nothing but a disgrace. YOU ALL SHOULD BE ASHAMED OF YOURSELVES. This is not a money diet class.

Given you seem to be shocked/disgraced/upset/offended in every post maybe it's time to give t'interweb a break for lent and live in real life :rotfl: