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Skycard - excessive payment "clearance" times
Dagobert
Posts: 1,625 Forumite
in Credit cards
I have had the Skycard for a year and throughout this time I have noticed that the time it takes for the available balance to be adjusted after receipt of payment varies hugely and can take up to a week.
It would appear that some pay-ins are flagged up and scrutinized manually, or should I say held back, before they add to the available balance.
What they refer to as clearing time is not to be confused with the clearance of BACS pay-ins. The moment a BACS payment is received it is cleared.
Example: A BACS payment (paying off the full balance) was made on Monday 25th Feb, credited on Thursday 28th February but did not become available until Thursday 6th March. Curiously, a payment made from the same source on the same day to o/h's Skycard to pay off the balance was already available on Friday 29th February.
It would appear that some pay-ins are flagged up and scrutinized manually, or should I say held back, before they add to the available balance.
What they refer to as clearing time is not to be confused with the clearance of BACS pay-ins. The moment a BACS payment is received it is cleared.
Example: A BACS payment (paying off the full balance) was made on Monday 25th Feb, credited on Thursday 28th February but did not become available until Thursday 6th March. Curiously, a payment made from the same source on the same day to o/h's Skycard to pay off the balance was already available on Friday 29th February.
Dagobert
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