Gridlock Mikey

What the hell are they all about [img]images/smilies/mad.gif[/img]

I paid off one of my credit cards over the inter net. Nothing wrong or bizarre there. By the time i'd navigated back to my current account, the money had gone Again not a huge problem, but it was instant. I check my Credit card balance and lo and behold it shows the credit having arrived.
Excellent I think, that was easy.
I pop down to buy a gauge and "BOING" credit card is declined. I can't use my current account cos i'd transferred the spare cash to my credit card, had to use a different card [img]images/smilies/mad.gif[/img]
So i phone the bank, they give me the "4 working days sir" story so i point out that it didn't take them 4 days to take it!
Sorry sir it has to go into our holding account
Hang on, you have got a grand of my money, i can't get it because you have it in a "holding account" You've taken it from your own current account and now you are seeing if the money actually exists!? I loose interest on the money and to boot i have to go through the embarrasment of a rejected card.
Ba5tards
Anyways, I went into the branch and asked for me grand which was being held in thier holding account. The scum wouldn't give it to me Sorry sir the money is committed ( ) to your credit card.
AAAAAAARRRRRRRGGGGGGGGHHHHHHHH [img]images/smilies/mad.gif[/img] I shouted a bit, got the hump, became mr unreasonable and guess what. A grand appeared in my current account.
I terrifies me that I had to go to these lengths to get MY money when all I did was try and pay a bill. That's just me, i'm sure all of us have to endure this 3-5 working days to clear bollox (WHY ) imagine the hundreds of millions of our pounds earning interest for the banks around the country.
At least Dick Turpin wore a bloody mask!

Mikey <Gets off soap box, feeling much better>

ProperCharlie

It is a scam, yes. But if you have a credit card from your own bank, it isn't as bad. I use barclays and barclaycard which means I can transfer money between accounts instantly, and when I pay money to barclaycard from my barclays current account it transfers instantly. Also when I pay a cheque into my current account they allow me to use the money instantly, although it is technically like an authorised overdraft until the cheque clears. They pay sh*te interest on balances, charge you loads on debts, but IMO the actual level of service is quite good.

TelBoy

Yup, the "clearing" period is an absolute disgrace - the banks have fought tooth and nail to keep hold of this relic in the face of advancing technology. Today it just boils down to "because we can". [img]images/smilies/mad.gif[/img]

Dracoro

This is EXACTLY why they do it.

Many moons ago it was to check that all the money was ok & valid etc. but in the current computer age it's all instantaneous and is instantly checked automatically but the banks retain the 3/4 working(working??? it's all computerised, computers don't 'stop' for the weekend and bank holidays do they!!!!) days just to earn interest on your money.

Jza

Grid,

That's how they make their money... they then invest it for 3 days odd on the stock market etc. imagine how much they can invest if EVERYONE of their customers paid off a grand as you did.

Takes the p1ss i know - as you said - they can take it off you straight away..... so why not pay it back as quickly ???

Jza