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Pending transactions

breakingbad
Posts: 130 Forumite
Morning all,
I have two bank accounts, a personal one with Barclays and a shared one with HSBC.
On the Barclays account, as soon as I spend anything on my debit card, an itemised entry shows up in pending transactions, which is great for budgeting etc.
However, with the shared account, when I (or, more likely, my wife) spends on the card, it doesn't show up anywhere, just comes off the available balance.
For this reason, I would like to move the shared account to another bank, but don't see any point having two accounts with Barclays. Are there any other banks which operate their online banking in the same way, with regards to pending transactions.
many thanks,
G
I have two bank accounts, a personal one with Barclays and a shared one with HSBC.
On the Barclays account, as soon as I spend anything on my debit card, an itemised entry shows up in pending transactions, which is great for budgeting etc.
However, with the shared account, when I (or, more likely, my wife) spends on the card, it doesn't show up anywhere, just comes off the available balance.
For this reason, I would like to move the shared account to another bank, but don't see any point having two accounts with Barclays. Are there any other banks which operate their online banking in the same way, with regards to pending transactions.
many thanks,
G
0
Comments
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Nationwide shows pending transactions, but I don't know how "instant" it is.0
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Santander account doesn't show pending transactions.
However the Santander Wallet app linked to the account cards does, so its an option.0 -
Lloyds/Halifax do and are instant
NatWest says it does then when you click on it, it asks you to request it - never got that far as I only opened the account for the switch bonus.0 -
If you are happy to run your bank account on your smartphone then consider Starling - transactions show instantly - even when spending abroad!0
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Santander account doesn't show pending transactions.
However the Santander Wallet app linked to the account cards does, so its an option.
I have just received an email from Santander, and they will be introducing pending transactions onto their mobile app later this year.(Although I could be wrong, I often am.)0 -
For a transaction to show up as 'pending' on your current account there has to have been a message sent to your bank at the time of the purchase to advise that a transaction is on its way.
That message will usually be in the form of an Authorisation request to check that the funds are available. If no Authorisation request is made (due to low transaction amount/sales environment etc) your bank will not hear of the transaction until it is cleared by the processing bank.
Also if the retailer's processing bank is the same bank as issued your card, the processing infrastructure is different and messages can be instantaneous. Barclays does hold contracts to process with many UK retailers - possibly more than any other UK bank - so this might account for a greater number of pending transactions showing up at Barclays.
There are other possibilities such as your Barclays card might be set up to always ask the POS equipment to go online for Authorisation (unlikely) or maybe your transactions are for higher amounts which need an authorisation request. Some retailer environments are also riskier than others so authorisation requests will always happen - e.g. 'pay at pump' petrol transactions/all cash transactions. There may also be differences between products branded with 'Visa' and 'MasterCard'.
And, finally (you'll be relieved to hear) there is a process known as 'single messaging' which acknowledges the fact that an authorisation request contains pretty much the same data as a transaction so why not use the authorisation message to clear the transaction at the same time? I don't think that is widely used in the UK - except maybe for cash transactions.
Having said all that, my card processing knowledge is now 13 years out of date but I would doubt that every transaction on the Barclays card would lead to a pending transaction alert. Are your spending locations always the same?
My advice to anyone using a debit card (not that you asked for it) would be to stop and always use a credit card and always get a receipt and always keep that receipt and check it off against statements and always pay the credit card bill in full.0 -
Nationwide shows pending transactions, but I don't know how "instant" it is.0
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Fingerbobs wrote: »I know this thread is discussing Debit card transactions, but I feel it's worth pointing out that Nationwide does not show Pending Transactions on my Select Credit Card, but it does show pending Debit Card transactions on my FlexAccount.
That's true. I presume there isn't as great a need for pending credit card transactions because the money isn't taken from you straightaway. They will show on your next statement and you'll have X number of days to pay for them.0 -
Terry_Towelling wrote: »For a transaction to show up as 'pending' on your current account there has to have been a message sent to your bank at the time of the purchase to advise that a transaction is on its way.
That message will usually be in the form of an Authorisation request to check that the funds are available. If no Authorisation request is made (due to low transaction amount/sales environment etc) your bank will not hear of the transaction until it is cleared by the processing bank.
Also if the retailer's processing bank is the same bank as issued your card, the processing infrastructure is different and messages can be instantaneous. Barclays does hold contracts to process with many UK retailers - possibly more than any other UK bank - so this might account for a greater number of pending transactions showing up at Barclays.
There are other possibilities such as your Barclays card might be set up to always ask the POS equipment to go online for Authorisation (unlikely) or maybe your transactions are for higher amounts which need an authorisation request. Some retailer environments are also riskier than others so authorisation requests will always happen - e.g. 'pay at pump' petrol transactions/all cash transactions. There may also be differences between products branded with 'Visa' and 'MasterCard'.
And, finally (you'll be relieved to hear) there is a process known as 'single messaging' which acknowledges the fact that an authorisation request contains pretty much the same data as a transaction so why not use the authorisation message to clear the transaction at the same time? I don't think that is widely used in the UK - except maybe for cash transactions.
Having said all that, my card processing knowledge is now 13 years out of date but I would doubt that every transaction on the Barclays card would lead to a pending transaction alert. Are your spending locations always the same?
My advice to anyone using a debit card (not that you asked for it) would be to stop and always use a credit card and always get a receipt and always keep that receipt and check it off against statements and always pay the credit card bill in full.
A change was made a while ago so that the floor limit is now zero for pretty much all contactless transactions - all now seek authorisation regardless of value. So the bit of your post I've put in italics is now out of date (or at least got more complicated). This is less about the value, and more about being able know if the card has been lost/stolen and therefore preventing the transaction. Not all public documentation has been updated though...The primary exception is for aggregated transport transactions such as contactless on TfL.
Contactless used to account for a lot of pending transactions so that has now gone away.
I believe non-zero floor limits still apply for PIN transactions but will vary by card issuer and acquirer.
OP - TSB show pending transactions...0 -
A change was made a while ago so that the floor limit is now zero for pretty much all contactless transactions - all now seek authorisation regardless of value. So the bit of your post I've put in italics is now out of date (or at least got more complicated). This is less about the value, and more about being able know if the card has been lost/stolen and therefore preventing the transaction. Not all public documentation has been updated though...The primary exception is for aggregated transport transactions such as contactless on TfL.
Contactless used to account for a lot of pending transactions so that has now gone away.
I believe non-zero floor limits still apply for PIN transactions but will vary by card issuer and acquirer.
Yes, 'Contactless' was not a POS option when I was in cards. That said, I was surprised to see it come in given the potential for fraud. Zero Floor Limits for contactless would seem a reasonable way to reduce misuse as, I imagine, is a '1 in N' required reversion to CHIP and PIN.0
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