FNB under fire over “available” account balances

Klomp kak.

If I have R10 in my pants and I buy for R5, I have R5 in my pants.

Vs

If I have R10 in my pants and I buy for R5, I cant give the R5, the R5 will be collected in 3 to 7 business days.

Jhst ****ing take the money.
 
The amount is typically settled against the ledger balance within three to seven business days. A potential problem emerges if a merchant takes longer than that.

...

After the merchant eventually presents the clearing record, the bank must honour the finalised charge, resulting in the amount being deducted from the customer’s ledger balance.
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I've had numerous transactions reversed by Wise when the merchant didn't claim within X number of days.

This is from one of today's transactions.

IMG_1405.jpg
 
Reall don't understand what the issue with FNB is, my current account is always up to date and transactions reflect immediately while the balance is adjusted even before the money is deducted by the relevant party, so looking at my balance tells me what I have after any pending deductions that may not have gone off yet. My credit card on the other hand is an absolute mess with the deductions only reflecting days after the transaction. This really isn't rocket science and if they get it right on one account, they have no excuse for not getting it right on every account.
 
purrr said:
My cheque works correctly. It’s the credit card where these pending transactions stay for up to a week. Why not at least remove the pending from my balance. It’s really a **** system.
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Don't they already do that? The "available" balance decreases immediately...
 
I got an in-contact message my homeloan, that no funds are available. But it’s R2000 000 paid in the green! Think its an error on their side… (if its bond related)
 
purrr said:
Cheque yes, credit card no.
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No, that's what I mean... the credit card does. Literally tested this the other day.

Had to bring my credit card up to date... but also needed to make an online purchase.

Looked at my balance before making the purchase, had enough available, made the purchase, the available balance immediately dropped by the same amount and then I paid off the credit card.
 
HumanShield said:
What if they just labeled it as "Pending Transactions"
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Which it is? If people don't know how to use the app how is that FNBs issue.
There's a balance and an available, the available is minus everything sitting in Pending.
 
zerocool2009 said:
For my credit card yes. If I swipe, my available automatically goes down, and balance (pending)
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I suspect the available in the sms is correct though haven’t verified. But in the app it doesn’t. As the week goes by and the pending are settled it goes down.
 
Correction I only look at Balance as that’s my money, I ignore Available as that is their money. And Balance does change as pending transactions are settled.
 
McGuywer said:
I have highlighted this before to the “private banker”. I suspect FNBs legacy systems that cant process fast enough. Early 2000s, FNB was the best digital bank in the world…. Not so much anymore.
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Na, its not the legacy systems, its the merchants not finalising the transactions.
I think the banks are a problem because they are not enforcing the timelines.
I had R7k unprocessed amounts on my card and I queried it, worrying that it was a big fraudulent amount.
When I got the list I saw some transactions that were over a few months old. Which is crazy, I paid for something at a shop and that shop does not have their money yet.

The speed of the payment is the method that the merchant is using. If you want to pay someone instantly then use a in instant payment.

My problem with FNB is that they always give me my balance including my overdraft. Which is stupid, its caught me out several times and I have been lazy to cancel it. Its nice to have that buffer when you need it but I don't want to go into debt just because I think I have money and I don't.
 
Discovery Bank has the same ****. "Balance", "Available" and "Pending Transactions" ( I can have pending transactions sitting for days) - what grinds me is that the "Pending" is not subtracted from "Available" until the "Pending" is processed.

Wake up. I spent it; you know it. Give me my real-time available balance, you shits (pending transactions you can take care of where I do not see).
 
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