Bank Charges

AceTK said:
Check this http://www.moneysavingexpert.com/reclaim/
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Since the court case was lost and it was confirmed that when customers agree to things they actually have to stick to them, this process is a lot less likely to be successful than it was before.

Moneysavingexpert still seems to be keeping up the pretence though, probably because Martin Lewis makes a fortune from the site ;)
 
Derek W said:
never assume cos it makes an ASS out of U and ME ;)
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:(

LSEdwards said:
If you paid with a debit card then I think you should be charged when the goods are despatched. It can take a day or two for the debit to hit your account, depending on the scheme and the supplier. Amazon are normally very quick.
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But I received the product, and then got charged a few days after. Fail. :p
 
G-MAN2004 said:
I understand that, but at the same time surely if I am using the product that I have bought, then it's right to assume they've got my payment by then?

The other time it happened, is when I bought something off Amazon. Received the product, and then a few days later my payment was taken out of my bank. Why on earth would they send me the thing without first getting the money off me, or is my bank just being slow with updating my balance or something? :confused:
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Read up on debit card batching. When you swipe the card through the machine, the bank confirms that the card is able to make payments, however that doesn't mean the payment is handled straight away. Most places send their card transactions through to the bank in batches at the end of the day, but it can be longer.

The money isn't actually debited from your account until the payment transaction has been received and processed by the bank.
 
Dolph said:
Read up on debit card batching. When you swipe the card through the machine, the bank confirms that the card is able to make payments, however that doesn't mean the payment is handled straight away. Most places send their card transactions through to the bank in batches at the end of the day, but it can be longer.

The money isn't actually debited from your account until the payment transaction has been received and processed by the bank.
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So two weeks is something that should be expected? A bit slow is it not?
 
G-MAN2004 said:
So two weeks is something that should be expected? A bit slow is it not?
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It is a bit slow, but it's the nature of the setup. Remember, a debit card can be used many different ways, from a fully authenticated, online setup (the original design of Visa Electron) that will not allow you to go overdrawn (but ended up being changed because it was very unpopular with the public who used it and not widely accepted) to a glorified electronic equivalent of a cheque guarantee card.

Your card swiping successfully at the payment terminal means the bank will pay the merchant, not that you will not go overdrawn.
 
Always bear in mind that unless the customer has savings that are a significant asset for the bank or don't but are rich enough to potentially do so, the relationship between a bank and a customer is an adversarial one. They are trying to take as much of your money for themselves as they can get away with - that's what a bank is for, it's a business and its purpose is to make a profit.

I always have at least £600 spare on my overdraft now, just in case, but when I was in trouble in the past my bank took me for over £2000 because they could and because the purpose of a bank is to exploit customers, their source of profit. By constantly fining me, they ensured that I never had enough money to avoid being fined for not having enough money. I was the perfect customer for my bank - a gravy train they could ride on the edge of bankruptcy for years.
 
Angilion said:
Always bear in mind that unless the customer has savings that are a significant asset for the bank or don't but are rich enough to potentially do so, the relationship between a bank and a customer is an adversarial one. They are trying to take as much of your money for themselves as they can get away with - that's what a bank is for, it's a business and its purpose is to make a profit.

I always have at least £600 spare on my overdraft now, just in case, but when I was in trouble in the past my bank took me for over £2000 because they could and because the purpose of a bank is to exploit customers, their source of profit. By constantly fining me, they ensured that I never had enough money to avoid being fined for not having enough money. I was the perfect customer for my bank - a gravy train they could ride on the edge of bankruptcy for years.
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That implies you were/are in your overdraft for a significant amount of time. In which case you need to start thinking about getting out of it...
 
Dolph said:
It is a bit slow, but it's the nature of the setup. Remember, a debit card can be used many different ways, from a fully authenticated, online setup (the original design of Visa Electron) that will not allow you to go overdrawn (but ended up being changed because it was very unpopular with the public who used it and not widely accepted) to a glorified electronic equivalent of a cheque guarantee card.

Your card swiping successfully at the payment terminal means the bank will pay the merchant, not that you will not go overdrawn.
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Ah alright then, thanks. :)

I guess I'll just be glad it's only £35 and not a lot more. :p
 
G-MAN2004 said:
:(



But I received the product, and then got charged a few days after. Fail. :p
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How many working days after the goods were despatched did the debit hit your bank account? If it was more than a few then I think you have a valid complaint against either Amazon or your bank. If you ask, they may be sympathetic once you have explained the circumstances.
 
Nice to see they sorted it out for you, when Santander was Abbey, I went over my limit by 4p for 1 minute and 28 seconds before my wage went in and they charged me £35 for the trouble, never made the mistake again though and always have enough in and keep my finances tight as a a nuns crotch to make sure it doesnt happen again... although they did waiver it.
 
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