Strange How Money Coming In Takes Longer Than Money Going Out Of Bank Account
By Janey1966
@Janey1966 (24170)
Carlisle, England
March 7, 2013 6:49pm CST
For the last couple of days good old RBS (who own NatWest, my hubby's bank) have been annoying their customers again.
Not for the first time have their 'computer glitches' ensured misery for thousands whenever they have tried to buy things in supermarkets and had their debit cards rejected. Can you imagine how embarrassing that must've been for them? Did it happen to you?
My Dad draws money every day out of the ATM outside his RBS branch and I bet you any money he would have to go into the bank (and queue) in order to get his £20 or whatever it is he draws out. He's had a few run-ins with them already in there as the ATM in question isn't so reliable at the best of times (always running out of money) lol.
In John's case he's received a refund from the Dentist (long story) which is quite substantial but he will have to wait longer than usual for it to clear at the bank.
How come whenever money goes OUT it's practically an immediate payment compared to money coming in?
So annoying.
I'm alright as I very rarely have to visit RBS or use my debit card anyway. I'm actually at an advantage, bizarrely, being so poor! I tend to know what's in my account online so I've not had to access that the last couple of days.
The balance will go up soon though. Does that happen to you sometimes? A few of your internet accounts reach payment at the same time? Nice feeling..for once..oh, and PayPal is INSTANT for crying out loud!
In John's case he's received a refund from the Dentist (long story) which is quite substantial but he will have to wait longer than usual for it to clear at the bank.
How come whenever money goes OUT it's practically an immediate payment compared to money coming in?
So annoying.
I'm alright as I very rarely have to visit RBS or use my debit card anyway. I'm actually at an advantage, bizarrely, being so poor! I tend to know what's in my account online so I've not had to access that the last couple of days.
The balance will go up soon though. Does that happen to you sometimes? A few of your internet accounts reach payment at the same time? Nice feeling..for once..oh, and PayPal is INSTANT for crying out loud!1 person likes this
8 responses
@robspeakman (1700)
•
8 Mar 13
This is the second incident in less than a year with this bank - That was also a computer glitch too if I remember correctly
@Janey1966 (24170)
• Carlisle, England
8 Mar 13
On my account earlier it said it was 'unconnected' with the incident last summer. Well, my argument is, there shouldn't even be one incident, never mind two, so to say they're 'unconnected' is irrelevant.
@wolfie34 (26771)
• United Kingdom
13 Mar 13
Fortunately I don't bank with RBS, I bank with Abbey National, yeah I know it's called Santander, but I still call it Abbey, far better name if you ask me, I've banked with them since 1987, so a staunch loyal customer thus entitled to call them Abbey. At the height of my internet marketing I was always getting payments to good old Paypal. Sadly for some reason UK residents cannot use Payza, formerly Alertpay, crazy, considering Alertpay is based in the UK, my account is frozen! Now most of the sites I was earning from have started to switch over to Payza and Solidtrustpay. Because Paypal have all these rules that penalize companies and sites from using them. Ho hum! Anyhow now that my affiliate marketing has all but folded, the only payments I can rely on now is Neobux.
@BarBaraPrz (47611)
• St. Catharines, Ontario
8 Mar 13
So, my question is: Why are you dealing with the Royal Bank of Scotland if it's so bad? Are there no other bank branches near you?
@Janey1966 (24170)
• Carlisle, England
8 Mar 13
They're all as bad as one another, that's the problem.
@veganbliss (3895)
• Adelaide, Australia
8 Mar 13
Hi Janey
,
I reckon that's how the whole financial system operates. Our "Big Four" banks have been posting record profits. One guess at where the money's coming from. They make it by holding off or delaying passing on the interest rate cuts on mortgage customers. Conversely, when rates were rising, they were extremely quick to pass on interest rate rises.
One way out is to put it all on credit, so long as you remember to pay it all off in full each month. That way, you've already consumed or used what you bought before actually paying for it with real cash.
Yes, Paypal is instant, but they make their money on international conversion rates that are always heavily in their favour.
,
I reckon that's how the whole financial system operates. Our "Big Four" banks have been posting record profits. One guess at where the money's coming from. They make it by holding off or delaying passing on the interest rate cuts on mortgage customers. Conversely, when rates were rising, they were extremely quick to pass on interest rate rises.
One way out is to put it all on credit, so long as you remember to pay it all off in full each month. That way, you've already consumed or used what you bought before actually paying for it with real cash.
Yes, Paypal is instant, but they make their money on international conversion rates that are always heavily in their favour.@Janey1966 (24170)
• Carlisle, England
8 Mar 13
Hi veganbliss,
Don't I know it lol. Mind you I get a heady £6.49 instead of around £6.10 MyLot money now, after conversion but I suspect it really should be more.
@jenny1015 (13366)
• Philippines
8 Mar 13
TRUE! And don't you just hate it every time it happens?
I have a similar issue with my previous internet provider. They are always ahead by 2 weeks for billing me for a month's service. But when I terminated my contract with them and told me that I was going to refund, well, guess what? They promised to send the check in October 2011, and what year are we in now? NO SENT CHEQUE until this time! And it doesn't even cost that much- just $25!
@Janey1966 (24170)
• Carlisle, England
8 Mar 13
Grrr! That's so annoying my friend. We have to be so 'with it' whenever it comes to our finances, no matter how big or small they may be. Small in my case lol. Mind you, I have won an ebay auction for some face cream I've wanted for ages at a reasonable price. Full sized jar as well.
@changjiangzhibin89 (16784)
• China
8 Mar 13
The payees seemed to receive benefits from their computer glitches.Such kind of bank should shut down!
@Janey1966 (24170)
• Carlisle, England
8 Mar 13
We should keep money under mattresses..like the good old days.
Haha!
@monkmano (585)
• Canada
8 Mar 13
i would be so embarassed if my debit didnt work. sometimes i wonder if it will -- just for balance though haha. i havent had any trouble with by bank, though i have 3 different chequing accts its bound to happen i have to get rid of one of these or two. i have had issues with paypal, like at a bank they like to put hold on items sometimes getting a refund for a payment takes a long time but taking out that money well thats no time flat
@Janey1966 (24170)
• Carlisle, England
8 Mar 13
I know what you mean. When money goes OUT, no problem at all, when you want money to come back IN - as in a refund of some kind, it takes ages, like you say.
@mariaperalta (19073)
• Mexico
8 Mar 13
Sure does, I have noticed that here in mexico many times. I bet its the banks wanting it for themselfs. I have asked my bank here, and always get its the other banks fault.
@Janey1966 (24170)
• Carlisle, England
8 Mar 13
Annoying isn't it? We're very distrustful of banks now. My Mum's friend has the right idea..draws all her money out at once and keeps it hidden in the house. I used to laugh at that idea but I've now changed my mind!
