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Laser Transaction takes a week to come off

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  • 09-08-2011 11:12am
    #1
    vinnyirl
    Registered Users Posts: 48 ✭


    Sorry if this has come up before I did search and I couldn't find it.

    When I use my laser card to buy stuff in a shop it can take anything up to 7 days to come out of my account, sometimes even longer. By itself this would not be a problem but the money is frozen in my account almost instantly which makes no sense.

    For example if I have €100 and buy something by laser for €80 my bank (AIB) will continue to tell me there is €100 in my account for a week even though I can only take out €20. This sometimes leads me to believe I have more money than I actually do (short memory) and I go into my overdraft :mad:

    What I want to know is why the hell do they not just remove the money instead of just freezing it in my account. They know the money needs to be removed so why don't they just take it? I rang 24/7 banking to find out why and all I could get is "Thats just the way it works" :rolleyes:


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    #2
    homer911
    Registered Users Posts: 5,119 ✭✭✭homer911


    Sounds like the clearing system is being worked in favour of the banks.

    The merchant probably has to wait a week for his funds, in the meantime they lock the funds and have free use of your money


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    #3
    vinnyirl
    Registered Users Posts: 48 ✭vinnyirl


    To be honest it doesn't really bother me that they use the money inbetween it going from my account to the merchant account. I just don't understand why they can't take the money from my account, or at the very least just make it look like the money isn't there. Or even better display it as it currently is but add (-€€€€) so I can remember and not have any problems.


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