After this thread (http://www.sheffieldforum.co.uk/showthread.php?s=&threadid=54894) yesterday, I probably deserve this...

I was checking over my bank statement and noticed a debit card transaction of about £16 carried out at a shop in Manchester on 15th July (according to my statement). I know for a fact I wasn't in Manchester on this day and I haven't bought anything online from this particular company so that wasn't an explanation. I rang my bank up to find out what the hell was going on and the very nice lady brought the details of the transaction up on the screen... Now this is the wierd bit...

The actual transaction was carried out on 24th December 2004 (when I was in Manchester doing some last minute Xmas shopping.) Apparently the shop didn't present their receipt (or whatever it is) to my bank until 15th July '05, so the money did not go out of my account until then. :loopy:

I have checked my December/January statement to ensure the money hasn't come out twice but it seems to be legit.

Now I may be wrong (and I think this incident has proved that I am) but I thought debit card transactions leave the account immediately. Has this or anything similar ever happened to anyone else? And is it just me or is 7 months quite a while to wait to process the money - I could've closed my account or anything in that time! Just seems a little crazy to me and I thought I'd let you all know what's going on, if only to give you something else to worry your pretty little heads about!

With most credit /debit card electronic machines the bank(that would be the suppliers back) 'polls' the money each day overnight and therefore something like this should not happen.

Was this done through a manual swipe machine because if so that could be your explanation that the supplied had not present the transaction till this date.

.....but why would someone wait 7 month before claiming their money




:suspect:

I can't remember what type of machine it was, but it was a fairly well-known chain so I don't think the technology would have been too prehistoric!

I have purposely avoided mentioning the name of the shop so that the cannier members do not go shop there and then close their accounts :P But it is strange, that's why I wondered if anyone else had had similar experiences?

Well some time ago now (poss about 5-6 months ago) I used the chip and pin machine with my card to pay for something one of the Boots stores in Sheffield and that hasn't come out of my account yet. Odd because I thought that the transaction took place there and then and your bank paid the company within 2 days.

ssshhh though, I don't want to remind them!!!!

Isn't there a case with cheques where they expire after 6 months and become redundant? Is this the same with debits of this nature? Then again, your bank would probably have said something. No harm in enquiring though. I'm only speculating.

[i]
I have purposely avoided mentioning the name of the shop so that the cannier members do not go shop there and then close their accounts :P But it is strange, that's why I wondered if anyone else had had similar experiences? [/B]


Gosh!!!! didn't think of that!!! oops. I have been back though and it HASN'T happened again.

As for the cheques, I was once told by my bank that if you put your card number on the back then they never expire. If you don't put your card number on there is a 6 months time limit.

Originally posted by sheff_minx
After this thread (http://www.sheffieldforum.co.uk/showthread.php?s=&threadid=54894) yesterday, I probably deserve this...

I was checking over my bank statement and noticed a debit card transaction of about £16 carried out at a shop in Manchester on 15th July (according to my statement). I know for a fact I wasn't in Manchester on this day and I haven't bought anything online from this particular company so that wasn't an explanation. I rang my bank up to find out what the hell was going on and the very nice lady brought the details of the transaction up on the screen... Now this is the wierd bit...

The actual transaction was carried out on 24th December 2004 (when I was in Manchester doing some last minute Xmas shopping.) Apparently the shop didn't present their receipt (or whatever it is) to my bank until 15th July '05, so the money did not go out of my account until then. :loopy:

I have checked my December/January statement to ensure the money hasn't come out twice but it seems to be legit.

Now I may be wrong (and I think this incident has proved that I am) but I thought debit card transactions leave the account immediately. Has this or anything similar ever happened to anyone else? And is it just me or is 7 months quite a while to wait to process the money - I could've closed my account or anything in that time! Just seems a little crazy to me and I thought I'd let you all know what's going on, if only to give you something else to worry your pretty little heads about!

I'd get in touch with the store in Manchester to find out why they didn't process your transaction in a timely fashion. We can all expect to wait 2-3 days but 7 months is just outrageous!

I had this happen to me just before christmas, shopping in [insert sportswear brand that rhymes with bike] town in london, and they didn't take the cash until February!?!

The bank told me they had up to 6 months to take payments? Wierd though isn't it?

From my experience with credit/debit card EFT systems, when the authorisation takes place, the bank 'reserves' the requested amount. This causes the available balance to reduce, while leaving the actual balance intact. If, after 2 days, the transaction has not been completed by the merchant, the available balance is increased by the transaction value and all is well. If the merchanct does complete the transaction (usually in an overnight batch) then the money is transfered.

I'm not sure if all systems work this way, but I would have thought that 8 months would be a long time to hold a transaction before cancelling it ...