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How long to take payment?

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
in Home, Law & Money
I went to the cinema last sunday (4th October) and paid for the tickets using my debit card. The money has still not come out of my bank account. I've never known it to take this long to clear, payments usually take around 2 or 3 days to come out. I've checked the receipt and it says pin verified and the amount that will be debited. Is this normal?

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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Fruit Loop wrote: »
    I went to the cinema last sunday (4th October) and paid for the tickets using my debit card. The money has still not come out of my bank account. I've never known it to take this long to clear, payments usually take around 2 or 3 days to come out. I've checked the receipt and it says pin verified and the amount that will be debited. Is this normal?

    If there was something wrong with the machines and the vouchers have to be processed manually it can take a month to show up.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Thanks :)
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Slighly off-topic but on a similar note - when you guys use online banking, do you find that your available balance is sometimes less than the actual balance? The difference can manifest for days until something finally clears and the available/actual balances will match up. What causes that? Is it the same reason as Fruit Loop's?
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Monserrat wrote: »
    Slighly off-topic but on a similar note - when you guys use online banking, do you find that your available balance is sometimes less than the actual balance? The difference can manifest for days until something finally clears and the available/actual balances will match up. What causes that? Is it the same reason as Fruit Loop's?

    Yeah pretty much. The difference is authorised transactions for which the reciepts have not yet been processed by the bank.
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    JsTJsT Posts: 18,268 Skive's The Limit
    Funnily enough I paid for cinema tickets and hotel on Friday night and it had gone off the card by Saturday morning.

    Suppose its just one of those things!
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Monserrat wrote: »
    Slighly off-topic but on a similar note - when you guys use online banking, do you find that your available balance is sometimes less than the actual balance? The difference can manifest for days until something finally clears and the available/actual balances will match up. What causes that? Is it the same reason as Fruit Loop's?

    Mostly when I use my debit card, the amount is 'earmarked' so my available balance is less than my actual balance, until it clears within afew days.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Basically when you buy something on your debit card, that money is earmarked for that purchase. The retailer is given a transaction reference and they can claim the money any time within 6 months. As standard practice though, most usually claim it withing 24-72 hours (depending on when they do their banking).

    Regarding the available balances, to simplify, if you have £100 and spend £50, your current balance will still show £100 and your available will show £50, until the money you have spent comes out, in which case they will both show £50. If the retailer doesn't claim the money within 3 days, it drops back on to your account, so both current and available balances will show as £100, BUT, the retailer will come and claim that £50!
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Thanks for explaining!
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Hi

    Hey!!!! this is really very good info and helpful for all us. thanks for explaining!!!!!!!!! :chin: :hyper:
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