1 reviews | Active since May 2009
Available Balance and pending payments...
I'm getting very frustrated on how FNB manages payments and how they don't correlate to online statements and mobile banking app.
Some payments take up to a week to come off my account, and when it does I sometimes go into negative. When I check my funds before a purchase it informs me of my available balance, But without me knowing there's pending items still. This needs to be fixed and be more transparent and reflect to what I actually have available...
Then when I'm it this problem they still take off what I think is a penalty of R27.50. I rectified and made payment asap but now this penalty has put me into negative again... am I going to get another penalty for this? Makes no sense...
In general everything else from FNB has been great but this needs fixing! and ASAP!
Good Day Richard ,
Thank you for logging your complaint to us.
When you use your card to swipe at a merchant or service provider you will receive an SMS notification advising that the amount swiped is reserved for purchases. If it is above the in contact notification default threshold (R100.01c or an amount you may have chosen for yourself) and your available balance will reduce. The amount will not show on your account transaction history immediately until the merchant banks the transaction. Its up to the Merchant to bank ASAP. Normally most Merchants bank on month end in bulk. Once the transaction is banked the amount will reflect on your account. It is for this reason that transactions can sometimes take a few days to go through your account which goes into a pending status and the bank unfortunately has no control how often a merchant chooses to do their banking.
It is always advisable to retain a record of your purchases in order to ensure that you are aware of what you have spent from the balance that you originally had in your account and thus to ensure that you do not leave your account overdrawn which than causes penalties on a negative account balance.
***
Regards,
Client Experience Team
Email address: ***
Tel number: ***
Good Day Richard ,
Thank you for logging your complaint to us.
When you use your card to swipe at a merchant or service provider you will receive an SMS notification advising that the amount swiped is reserved for purchases. If it is above the in contact notification default threshold (R100.01c or an amount you may have chosen for yourself) and your available balance will reduce. The amount will not show on your account transaction history immediately until the merchant banks the transaction. Its up to the Merchant to bank ASAP. Normally most Merchants bank on month end in bulk. Once the transaction is banked the amount will reflect on your account. It is for this reason that transactions can sometimes take a few days to go through your account which goes into a pending status and the bank unfortunately has no control how often a merchant chooses to do their banking.
It is always advisable to retain a record of your purchases in order to ensure that you are aware of what you have spent from the balance that you originally had in your account and thus to ensure that you do not leave your account overdrawn which than causes penalties on a negative account balance.
***
Regards,
Client Experience Team
Email address: ***
Tel number: ***