Natwest Transactions Not In Order

ugo2slo4me

On 26th December 2023 my Natwest select account was £200 overdrawn then at 2am on the 27th my UC in the amount of £1150 went in leaving balance at £950. At 7am I paid william hill online casino £10 and won £150 by 7.45am. I withdrew it but £50 went to my debit card so was in account by 8am and the £100 went by bank transfer because previously I used paysafe due to overdrawn account and that would go into account on 28th.

At 9.30am I contacted Natwest to say they had taken  £200 from my UC that was my rent payment could I have an encashment of £200 and on the 28th  I would deposit £100 and £100 will come from WH. I was told account had to have a 0 balance  first. Then to my surprise I was told that the bank did not take the £200 they only took £150 because the £50 from WH was put as incoming before my UC went in. The £10 to WH that won me the £150 was listed after the balance of which was then £999 after a £1 charge. I queried it and response was always the same, the 50 wenh in first.

It has happened numerous times where transaction are in different order making me go overdrawn when I shouldnt. They say the system corrects itself yet I get charges for going OD.  And this incident is nothing compared to other things that have happened. They are cso outrageous that I fear that even mentioning them would make you all think I was crazy. 

ugo2slo4me

And incase you are wondering what happened about the now £150...on 2nd January after being on the phone for 3hrs I was told I would not get it back because it was my own expenditure. Has anyone else had their transaction put in a different order that benefits natwest? 

flo22

Define different order?  A bank statement will list all the credits on a given day first in ascending order of value and the all the debits in ascending order of value.  

Also the bank did not 'take' the money - you were overdrawn so you took it.

Zanderman

Not sure what you mean by different order.

Banking transactions are grouped in daily batches. If you withdraw £10 at 9am and pay out £20 at 11am, and pay in £100 at 3pm, they won't appear, necessarily, in that order. As that order doesn't matter at the end of the day. It's the sum - over a whole day - of what went in versus the sum of what went out that matters. 

If the problem is that you're not seeing live updates of balance on the app or website and therefore cannot judge what balance you have left at any one time (because order does matter within the day if you're running close to zero) then you either need to change of bank that shows live updates better, or you just need to remember what your balance is after each transaction. 

penners324

Move to different bank if your not happy with them

penners324

You got an overdraft charge because you were overdrawn on 26th.

The bank haven't taken your money. 

The bank won't allow an authorised overdraft if you're in an unauthorised overdraft 

DullGreyGuy

Transactions should be listed in the correct date order... intra day banks will list all credits or debts first and then the other... they don't show them in time order. 

Every bank I've been with its the end of day position that determines if you've gone into an overdraft or not, not the intraday so whilst a credit not yet having been applied may prevent a transaction being authorised the fact debits are shown first on a statement won't mean OD fees apply as long as the credits bring it back into the black

Nasqueron

I was overdrawn a couple of months ago when a DD was taken early (4 days, not a weekend issue) and the NatWest app pinged me a message saying I had until I think 2pm to sort it to avoid charges, moved money in and never had any issues. No charge, nothing reported to CRAs. 

Banks have not been allowed to do a blanket fixed fee charge for an overdraft for a few years now (since April 2020), one of the admirable, but misguided*, schemes Martin Lewis championed got it changed so now they charge a flat interest rate

If you got charged a fee it sounds like maybe it was overdrawn for a period of time, if your payments were all processed together it shouldn't have resulted in a charge

*misguided in that the campaigned seemed to think banks would all be competitive amongst each other to offer lower rates, or indeed, keep rates low. Of course they all just jacked up the rates to something like 40% rather than a predictable fixed fee.

ugo2slo4me

I decided to write about how the transactions on my Natwest account were not in the  correct order and asked if anyone else experienced this. Instead one reply said if I'm not happy with the bank I should move  and others said they just took back their money. So best I state my query in a question then if anyone knows the answer they could kindly reply.

When my account was overdrawn by £200, a payment of £1150  came in at 2am making the balance £950. I then used £10 making balance £940. Later that morning £50 generated from the £10 was paid in.  On the transactions the £50 was listed first making the balance £150 od, then the £1150 making balance £1000. My question is... How can the £50 come before the £1150 when the £10 that generated the £50 came from the 1150? Is it legal to do since it changed the amount that would have been refunded?

Nothing to do with not being happy or  not my funds.  Thanx

sausage_time

As was noted, you were overdrawn at the end of the day on 26th.

flaneurs_lobster

Overdraft charges are not calculated intra-day. They are applied on the balance at the end of day. The order of debits and credits being applied during the day is irrelevant.