Sorry your cash is missing

[sleeping giant]

Popped into the local money exchange yesterday to buy some Euro cash.
Ordered £1000 pounds worth only to have my debit card declined. Tried again and declined again.

Quite embarrassed , I headed home to check my bank online. More than enough to cover the 1k but noticed that the funds available were 1k less than my balance.

Phones the bank and they said the payment was NOT declined. Phone the exchange place to be told it had.
I have the 2 declined receipts.

Phoned the bank again and they said if there was a malfunction with the card reader the money would go back into my account within 5 days.

Has this happened to anyone else and was there any issues getting your money back?

Cheers

[MyJo]

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Popped into the local money exchange yesterday to buy some Euro cash.
Ordered £1000 pounds worth only to have my debit card declined. Tried again and declined again.

Quite embarrassed , I headed home to check my bank online. More than enough to cover the 1k but noticed that the funds available were 1k less than my balance.

Phones the bank and they said the payment was NOT declined. Phone the exchange place to be told it had.
I have the 2 declined receipts.

Phoned the bank again and they said if there was a malfunction with the card reader the money would go back into my account within 5 days.

Has this happened to anyone else and was there any issues getting your money back?

Cheers

I work for a bank and it happens all the time.

What's happened is the exchange place has processed the transaction and your bank has approved it, that's why the £1000 has been reserved on your account. Your second and third attempts have probably been declined for insufficient funds because the original £1000 had already been approved and you would have had decline receipts for those ones.

The bank are just waiting for the company to collect that money from your account which is normally done a day or two after but it sounds like the exchange place have had a problem or your card was taken out too early or something like that.
Your bank will hold onto the money for 5 working days and if the company don't collect in that time the money become available to you again in your account. The money never actually leaves the bank account.
If you need the money available then your bank should be able to remove the reservation from your account but they might need confirmation that it wasn't completed from the merchant, the place I work for will accept a fax from the merchant to say they aren't going to collect the money so we can release it back to you

[sleeping giant]

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I work for a bank and it happens all the time.

What's happened is the exchange place has processed the transaction and your bank has approved it, that's why the £1000 has been reserved on your account. Your second and third attempts have probably been declined for insufficient funds because the original £1000 had already been approved and you would have had decline receipts for those ones.

The bank are just waiting for the company to collect that money from your account which is normally done a day or two after but it sounds like the exchange place have had a problem or your card was taken out too early or something like that.
Your bank will hold onto the money for 5 working days and if the company don't collect in that time the money become available to you again in your account. The money never actually leaves the bank account.
If you need the money available then your bank should be able to remove the reservation from your account but they might need confirmation that it wasn't completed from the merchant, the place I work for will accept a fax from the merchant to say they aren't going to collect the money so we can release it back to you

Cheers for that.

I'll be relieved to see it back in my account.
Pain in the erse though. I'm so glad I wasn't travelling today.

[HH81]

The bank can remove the authority if they get a fax from the company to say won't take funds. Ring telephone banking get a fax number etc. If need help PM me.