Visa Debit - just how long can they wait?

jonesMUFCforever

YorkshireBoy wrote: »

On the grounds that a £38 bounced DD charge has been applied to the account (followed by a £25 exceeding overdraft charge) because the transaction wasn't accounted for and suddenly appeared 'out of nowhere'!

How can you claim it is out of nowhere when you AUTHORISED IT.
It is YOUR responsibility to make sure that you have sufficent monies in your account not the bank so in your scenario you deserve to be charged for bounced items!

Now what if it was a cheque that had been in somebody's drawer for say 5 months they find it and bank it?

YorkshireBoy

ejones999 wrote: »

How can you claim it is out of nowhere when you AUTHORISED IT.
It is YOUR responsibility to make sure that you have sufficent monies in your account not the bank so in your scenario you deserve to be charged for bounced items!

Now what if it was a cheque that had been in somebody's drawer for say 5 months they find it and bank it?

You've taken my post out of context EJ (perhaps I should have used a :rolleyes: emoticon instead?).

For what it's worth, I once had to manually append a transaction to my statements each month for many months until a transaction I'd authorised was finally debited to my account.

Mikeyorks

boo_star wrote: »

The bank doesn't return the authorised sum. When you make an "authorised" card payment the bank puts whatever sum on hold, for around 2 working days. After that point you're free to spend the witheld funds, but the amount can (and often does) still debit..

Total nonsense... "it's not returned" (to your available balance) but " you're free to spend the witheld funds" ..... how does that fantasy work?

The sum that is ring fenced following a DC transaction is only " for around 2 days" .... if the debit comes through. Then it is removed from your balance. This thread is about authorised transactions (sum is ring fenced / reserved .. or whatever) which do not materialise. In such cases the drawer bank has to allow a reasonable period and will then return, as I said earlier, the reserved sum back to your available balance. That reasonable period is around 7 working days. Clearly you can then spend the no longer reserved funds. If you do so, and that is all there is in the account, and the debit then arrives .. it will be bounced (subject to agreed overdraft etc).

boo_star wrote: »

You also say that with C&P that floor limits don't always apply. I'm sorry but they apply as much now as they did before C&P. .

Read the APACS quote above. They know far more than you do.

jonesMUFCforever

YorkshireBoy wrote: »

You've taken my post out of context EJ (perhaps I should have used a :rolleyes: emoticon instead?).

For what it's worth, I once had to manually append a transaction to my statements each month for many months until a transaction I'd authorised was finally debited to my account.

Hang on a mo here!
Why did you not just tell your bank that the transaction was out to time to save you manually adjusting your statement every month??:cool:

YorkshireBoy

ejones999 wrote: »

Hang on a mo here!
Why did you not just tell your bank that the transaction was out to time to save you manually adjusting your statement every month??:cool:

If memory serves, it was a cheque for school meals so I couldn't do anything anyway (it was less than 6 months...probably only 3-4 months).

My point being that I took responsibility for it. In those days (one wage, 3 kids) I ran my balance down to 'pennies' each month...although I did have an agreed overdraft in place just in case.

samtheman_2

Ok regarding this I've landed myself in a bit of bother here. Need some advice - a visa transaction has just went through my account from november! I may have forgotten about this - I had kept track of my account and had money available to pay three small visa debit card payments and now that this transaction has came back from the past I have incurred 3 paid item charges of £35 in one day - £105! I've spoke to the bank who are having none of it - anyone got any ideas to help me as it seems excessive.

Mikeyorks

merchantacquiring wrote: »

I once did a switch transaction and it took 7 weeks to come out of my account.
merchantacquiring(dot)co(dot)uk

Not quite the age then of this thread - which you've excavated for advertising purposes.

Posts reported

merchantacqu

Hi,
Merchant services offer you to become self-efficient in profitable opportunities surely making dynamic growth. You can get more information from https://www.merchantacquring.co.uk

merchantacq

Hi,
All High Volume Merchant Accounts are multi-currency accounts. It allows you to present and charge clients in different currencies and also settle your accounts in the currencies of your choice. You can get more information from https://www.merchantacquring.co.uk.

sutton111

merchantacq wrote: »

Hi,
All High Volume Merchant Accounts are multi-currency accounts. It allows you to present and charge clients in different currencies and also settle your accounts in the currencies of your choice. You can get more information from www.merchantacquring.co.uk.

stop spamming plank:mad: