Can't Believe How Quick

[jennyjoan]

Yesterday I paid big amounts for carpet and my oil via my card, it has come out of my account today. Do recall when you bought anything it took a few days for the money to come off the account. Don't get me wrong I like it cos then I know where I am financially. Does anybody else's money come out that fast now.

[bednobs]

yes my card transactions appear on "pending transactions" immediately (handy when i want to check what my husband is spending of he goes out!) and come out the next day or the day after usually

[Canary42]

Yes, sometimes within minutes for online transactions.

[Bobbisox1]

Mine come straight out but if you want it back? Then you wait 5-7 days :0((

[bhg481]

I'm sometimes surprised how long it takes. Last week we shopped at Costco, expected the cash to be taken before the end of the month and it dragged over to this month. I like to check balances carefully at the end of the month so it made it a bit fiddly.

[bednobs]

when i was a student and it was near payday, i used to write cash cheques to myself and rub the number with a 2p before presenting them to the counter. The slightly smudged number used to mean they couldnt be read by machine and took an extra day as someone had to do the transaction by hand. Wouldnt get away with that now

[piper107]

its a digital world folks

[bhg481]

That's why I was surprised it took my debit card transaction 3 days to be taken.

[piggynose]

Surely this is illegal

[Fitzer]

“ Surely this is illegal” how can it be illegal, you purchase something they take your money, if you paid cash they’d have the money instantly?

[bobbinwales]

I maybe wrong but I were thinking piggynose is refering to bednobs post about damaging cheques??

[Peter Pedant]

cheques - it was the 2-4-6 rule - out of your acct at 2 d into theirs at 4d and irreversible at d6

and yes there is a 2-4-6 scam that you go to prison for so I wont tell

Now it may go immediately ( same day) - week end a few more days
and into the payees acct in a few days
this means on a trillion european transactions a year, the banks have much moolah for a decent amount of time to make their own money with

[Peter Pedant]

electronic transfer is almost instantaneous
and the banks clung stubbornly to the 2-4-6 rule for years
( at least ten ) big money maker for them