cash machine withdrawal

[wendilla]

A friend has just told me that the day his pension is in the bank which is a monday he can draw cash from the bank but does not show up at cash machine till the saturday of that week therefore he cant use cash machine .He is with Barcleys .I can't comment as I can draw from cash machine and shows up same day with building society anyone know why this is as he has to go right into town for money but has a cash machine near him and can't use it.

[squarebear]

I've never heard of anything like that. The cash machine displays an accurate balance of your account.

The only thing I can think of is the pension has been set with a 3 day clearing period (like a cheque). The machine may not display it but the bank teller would still pay out on a wage/pension cheque.

[wendilla]

Thanks for your quick response and no I hadnt heard of anything like this either but retirement pensions dont have a 3 day clearance as far as I know .

[bednobs]

dunno about barclays but untill recent times any transactions in lloyds took at least 3 days to show up on the cashpoint

[wendilla]

Thanks for replies but it seems if he puts his card in the machine he cant get any money as it is his retirement pension account but if he goes into the bank he can. Maybe I didn't make myself very clear .And apperently this is normal so he is going to see about getting it transferred to a building society as he has to go all the way to town when he has a cash machine near him.

[caz247]

i think it depends on the individual banks, is the cash machine nearest to him the company he banks with

[wendilla]

not quite sure but will ask but would not have thought it would have made any difference if it is a link

[caz247]

the reason i ask is years ago in my old work all the manual staff got paid on fridays but 80% of them had wages in bank on the thurs nite and could withdraw via cash machine