Lloyds TSB Online Banking

chris_r

chris_r

chris_r

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Joined
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Posts
2,818
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Liverpool
Hello,

I find my online banking takes ages to update and show the correct upto date amount of cash available etc

Does anyone know exactly how often it updates and why it never allows me to 'withdraw' even though i have monies in


Thanks
 
chris_r said:
Hello,



Does anyone know exactly how often it updates and why it never allows me to 'withdraw' even though i have monies in


Thanks
Click to expand...

You know you cant get the money from your monitor dont you?? :p ;)

If you have DD's coming out that day, it may not show on your account balance but it will affect your avaliable balance you can withdraw. That could be the reason.
 
Direct debits and some card transactions wont actually be taken out of your account for a couple of days after you do the transaction. At the top there will be an account balance and an avaliable balance, the avaliable balance is the one you want to look at if you want to withdraw cash as thats what you can still physically take out.

I hope this makes some sense
 
I use Lloyds TSB internet banking also and have just bought two items on ebay (about 2 days ago) with instant bank transfer and according to Lloyds TSB the money hasnt gone??

I can hope ;) :D
 
lukechad said:
Direct debits and some card transactions wont actually be taken out of your account for a couple of days after you do the transaction. At the top there will be an account balance and an avaliable balance, the avaliable balance is the one you want to look at if you want to withdraw cash as thats what you can still physically take out.

I hope this makes some sense
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Ditto...You get a transaction date and an invoice date on any withdrawels so there is a good chance that some of your recent transactions wont show for a couple of days afterwards.
 
I've always found my Lloyds online banking to be very good.

The available balance is always spot on and constantly up to date all throughout the day.
 
When a transaction is made it wont show on your account right away but it would earmarked straight away allocated the funds.

So if you paid for something for £10 today at say Tesco and had a balance of £200.

Account Balance : £200
Available : £190

The account balance does change because the transaction hasnt cleared, which just means Lloyds have had anything sent to them to say "hi it was us that took the money, thanks Tesco" when they do, normally 2/3working days.

it will show

Account Balance : £190
Available : £190
Last Trans 14th March - Tesco : £10

Internet banking normally is pretty quick for updates though, your best bet for balance queries is talking to the bank on the phone or using an ATM


Please note though, not all transactions will earmark straight away either, some places will swipe the card and everything but its all stored locally, and the details are checked but they dont issue the charge, meaning even the earmark wont happen untill they process properly - though this is rare
 
L337 LooX said:
I use Lloyds TSB internet banking also and have just bought two items on ebay (about 2 days ago) with instant bank transfer and according to Lloyds TSB the money hasnt gone??

I can hope ;) :D
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If its Lloyds to Lloyds it'd be almost instant

Lloyds to non-Lloyds bank would be like 3-5days, wont even show as available i dont think
 
Yup. Lloyds to Lloyds is instant. Authorised card transactions are pretty much instant too, but only show on the available balance until the transaction is processed a few days later.

It's much better than it used to be. :)
 
McDaniel said:
When a transaction is made it wont show on your account right away but it would earmarked straight away allocated the funds.
Click to expand...

any reason why they do this? i've always wondered

they go to the effort of checking, removing the ability to spend the funds etc yet take ages to put it down as a transaction

surely when they 'earmark' the funds as going they know who its from... it cant take much at all to just do it all at once
 
If you mean Paypal's "instant bank transfer", it's not instant at all, they just make the payment straight away and require that you have a card registered as backup in case the transfer fails.
 
Account balance:

£53.49 CR

Available balance:

£3.22


(but i have bout 30 to go out so shouldnt i have the rest to spend)
 
Because the transaction might not actually happen.

Example:

You check into a hotel, having paid for the room, but the hotel asks to swipe your card for 'incidentals' (food, mini bar, etc.). They might decide that it's reasonable to authorise a transaction for £100. As it's authorised, you can't spend that last £100 in your account, as the authorisation would then be useless, but the transaction itself hasn't happend. You check out a few days later and there are no incidentals, so the transaction itself never happens.

If they did what you suggested, they'd have to take £100 out of your account. That £100 has to go somewhere, but it doesn't belong to the hotel yet. As any decent accountant will tell you, books must always balance. At a later date, they'd have to put the £100 back again. Also, you'd lose out on interest (not that that makes a huge difference with the usual 0.1% interest rates that most banks offer).

chris_r said:
Account balance:

£53.49 CR

Available balance:

£3.22


(but i have bout 30 to go out so shouldnt i have the rest to spend)
Click to expand...
You have £50.27 in authorised transactions. That money is earmarked to go somewhere, so you can't 'spend' it twice. Doesn't mean it actually will go somewhere of course (see above), but it might.
 
As mentioned above, undischarged items are those that have not yet fully cleared (they take 3 to 4 days). LTSB Internet Banking won't show undischarged items but other channels such as the branch and phonebank will be able to give you a precise figure if it's needed.
 
kibblerok said:
any reason why they do this? i've always wondered

they go to the effort of checking, removing the ability to spend the funds etc yet take ages to put it down as a transaction

surely when they 'earmark' the funds as going they know who its from... it cant take much at all to just do it all at once
Click to expand...

Otherwise you could over spend.

If they didnt earmark that amount in my previous example and you then tried to spend £200, if it hadnt earmarked then you would be -£10 by the time both transactions come through.

With an earmark it will ahve a 6digit code, when the transaction is sent through those 2 match up, so if transaction a comes through with the auth code 000001, then the earmark 000001 can be removed (so no double charges) - this also means that if the transaction isnt earmarked it will still go through anyway.
 
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