Transaction add up to less then what bank account says I have.

Riddledwithanxiety

I got paid £885.00 on the first of January, I've gone on my online banking and added up all the outgoing transactions which added upto £776.00 which would mean i would have around £110 left yet my account says available balance £1.38, there is no pending transactions and all payments are cleared, so I'm not sure why there is less money in account that what should be, has anyone else ever noticed anything like this? Can banks get it wrong?

societys_child

Doesn't the statement show all debits and credits, with a running total?
If there was a discrepancy, you should be able to identify what it is and where it's occurred.


Edit: What type of account is it?

eskbanker

What was the opening balance?

Terry_Towelling

Are you saying your cleared balance on 31/12/18 was £0, you received £885 on 1/1/19 and you've spent £776 since then, or was all this spending scattered around the credit - and did you really get a credit to your account on a bank holiday?

Perhaps you might also tell us what was your cleared balance the day before any of this activity started - i.e. the day before the first item in your collection of debits and credits? Were you overdrawn by any chance?

YorkshireBoy

Incoming cheque in clearance?
Payments due out tomorrow and already accounted for (like YB et al do)?
Is the 'balance' figure the same as the 'available balance' figure?

Sharon87

Terry_Towelling wrote: »

Are you saying your cleared balance on 31/12/18 was £0, you received £885 on 1/1/19 and you've spent £776 since then, or was all this spending scattered around the credit - and did you really get a credit to your account on a bank holiday?

Perhaps you might also tell us what was your cleared balance the day before any of this activity started - i.e. the day before the first item in your collection of debits and credits? Were you overdrawn by any chance?

This - if you were in your overdraft this would mean the balance would be different. Or transactions that went out the same day your money went in sometimes show before the income, so you need to take those into account.

gt94sss2

When you say 'Available Balance' could this include sums that have been 'reserved' by retailers against your debit card and not yet dropped off?

Riddledwithanxiety

I have no direct debits coming out, and the day before I got paid my balance was £12.30, I phoned up barclays and they said that a order I made to a online clothes shop had taken two payments and the 1st payment has cleared but the second one will be back in my account when the shop sends it back, thank you all for taking the time to reply back to me xxx

Terry_Towelling

Thanks for the update but it isn't that clear. If you have/had no pending transactions, the inference is that a retailer has duplicated a transaction (presumably in error) for about £120.

Barclays could only deduce that it was an error (pending corrective action) if it were aware of a file duplication. Is that what they told you? If it is a duplication by any other means, there is no guarantee that it will automatically be refunded and you may need to dispute the item to get your money back.

The trouble is, you said you added up the debits in online banking. If a duplicated transaction were present, it would have shown up and your calculations would have included it - but they didn't.

Keep your eyes peeled for the credit and be prepared to shout if it doesn't show soon because your availability of funds is being impacted quite badly by this 'error'.