There will be a couple of bloggers that may remember of the conservation I had with them last year via their blogs and mine, that I am about to have here, but a bit more in detail.
I think I may have mentioned in a post of mine once too. But can’t remember for sure on that. But with knowing I have had this conversation via a comment on one of my blog posts, means there may be other readers that remember this too.
Last year I mentioned how I ‘cocked up’ my bank account. Now these ‘cockups’ what I thought at the time happened on more than one ocassion of last year. Now out of these cock ups, there was only one, which was a very small difference that did not affect my bank account, that was my error and I spotted this with my records before it would have reflected in my account, so I was able to ammend accordingly.
But when it happened again, this time affecting me enough to occur a fee, because I didn’t spot anything before, as my records were in credit, I paid, because I assumed it was my fault again.
For some months after, I seemed to be doing well. Then it happened again. Again, because this was something of a small difference in my own records and so not affecting my bank account to result in fees because I adjusted it accordingly, I just corrected my own records. I assumed it was my fault this time. But I still couldn’t understand how I was ‘cocking up’ because I am careful with my money. I don’t spend what I don’t have. And the way I do my recored is that I am in front of my bank, because I deduct all the monthly bills in advance in my own records and anything else that comes out. So I thought, why after all these years is this happening?
Fast forward and the last few months towards near the end of last year, I did not spend anything on my debit card. I was keeping daily checks on my bank account and making notes in my records, to find everything is going fine.
I then in the last month of the year spent on a few ocsssions on my debit card; a second hand dvd, fleece underblanket for new bed, my new single bed and matress, which last two were the largest purchases. Again, with my records, I had this money. I am keeping an eye on my account as usual to see these payments are coming out and ticking them off in my records as I do and I spotted after my mattress payment came out my ‘available balance’ was much lower than it should have been. This was actually looking overdrawn, but my ‘balance’ reflected my records. So going months being fine and accurate between my own records and my online records, to not as soon as I start to use my debit card and finding ‘available balance’ is much lower than it should be. I thought this is why. And because of how this ‘available balance’ was looking, I moved over money from my ISA, (meaning that money lost out on interest) to make sure I was going to be covered, even though this I feel should not have happened because as my ‘balance’ shown, I had the money to cover it and it reflected my own records. I then Googled this issue and see it’s not just my building society, but other bank names crop up and it all boils down to however this all works behind the scenes with the bank/building societies and the business you are paying for whatever you bought.
I downloaded the app for my building society so I could see any pending, which there was, the bed, even though I could see it had come out of my account. The place I bought my bed and matress from, which I won’t name came up in the Google search, when I was researching about my ‘available balance and’ balance.’ That business is known to like take it twice. The first time when they check your funds at buying, but they don’t take it out until a bit later. When they do take it out, you have to allow so many days before their other pending payment is cleared by them and then your bank/building society, before it goes back in your account. And that’s what happened to me!
I may not have lost out in the long run and the ‘available balance’ eventually reflects my ‘balance’ and my records. Which then, I put all the money back in my ISA I had drawn out. But this shouldn’t happen. Bank balances should reflect truely. Not make you overdrawn, when the money is actually there. So yes, when it comes to paying for goods from now on, I will be paying by cash. I won’t give anyone a chance to mess up my account; the building society and businesses.
There will be a time next year with one company, that I will have to use my debit card, but when that time comes for that, or anything that crops up that I have to pay this way, then I will only use my card once in that month, to prevent too much if this activity, in case other businesses do this and then there is how my building society operates, when you use your debit card.
© Elizabeth Fisher and My Wellbeing and Learning Journey.
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