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Cash Account Statement Dates


adridude
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Hi,

 

I was wondering if someone could help me deal with the weird dates which barclays apply to pretty much EVERY transaction on my account.

 

Whether I transfer from one account to another (both at the same branch) they only show on my account statement a day later than I actually made the transactions.

 

Whenever I make a card payment (VISA Debit), the transactions only show up between 3-5 days later, sometimes, a weeks worth of transactions all of different days all get batch processed all in one day.

 

Now I do understand that card payments can show up later on your statement, but no matter how many times I've asked Barclays to put the transaction date or some form of reference i.e. authorisation ID etc... on the statement, they tell me that 'what you get is what you get' and that's not going to change.

 

Because of this, I often have to sit and explain to various people why my receipts don't tie up with my statements. Come month-end when I reconcile my bank account with my receipts, it can take a few days to wade through the lot....

 

I have been to other banks, (pretty much all of them), and they too have different dates on the statements, but under the description they have a a 'transaction date' or 'actioned date', sometimes even a full date AND time stamp.

 

Is it not within my right to get that sort of information from my bank without having to send a SAR/DSAR off?

 

I know they have the figures, as when I call up telbanking, they can pretty much tell me where and when things were paid for or done.

 

Is there any plausible reason why they should be omitting this important data? As far as I know, when it boils down to receipts, you can't get more picky about dates and times when it comes to accounting, whether personal or business :-/

 

Some advice, pointers would be handy :)

 

Cheers,

 

A

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Hi Adridude,

 

Even though the bank may have the transaction date handy, I doubt they'll change the manner in which they process and report your account transactions.

 

If this is important for business accountancy purposes, you will no doubt have a policy to which you adhere as regards the date you use for transactions. This is particularly important for VAT returns. If in any doubt, your accountant will tell you what date to use and you will usually have a receipt to help identify the transaction date.

 

If there's no VAT or business accounting involved, then the matter is less significant in terms of personal record keeping.

 

If this is unaccepatble to you, and the bank can offer, no remedy, move a/c's to a bank that will provide the data you require.

 

:-)

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Hey slick,

 

Cheers for answering. as one can easily determine, I've challenged a few bank charges etc... in the past and these have literally painted myself into a corner.. Moving banks isn't as straight forward as I'd like it to be. Barclays happened to be the parachute account I opened up when I got those old charges paid back.

 

Luckily it's a personal account so VAT, Corp Tax etc.. aren't affected at all. Oddly enough, Barclays DO offer these facilities on business accounts...

 

What does concern me, is that money coming IN to my accounts doesn't tie up either... This is doubly annoying. I actually tested this but sending a few dry small payments (a few pence) from the business current account to my personal account. When they were sent, my 'available balance' updated, but not the actual balance.. This took a few days. This both happened mid-week (working week) as well as over the weekend.

 

Aren't there any forms of SLA's or regulations that banks have to adhere to when it comes to accuracy of their data? Because the way I see it, wrong dates and times in financial transactions are just as bad as wrong values.

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Maybe the bank staff can offer an explanation for the delay.

 

At least, if you know about the issue, you can look out for it as the explanation for discrepancies.

 

Have you looked at the Payment Services Reg'ns - https://www.google.com/url?q=http://www.fca.org.uk/firms/firm-types/payment-services-institutions/psr-faqs&sa=U&ei=tDmfUvuGKqmh0QW5pIDoCw&ved=0CAUQFjAA&client=internal-uds-cse&usg=AFQjCNHzr42rPN2JMBM7IAvtF5SCgbRRPg

 

:-)

We could do with some help from you

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They have... And I fully understand about the delay. What my issue is, is that there is no other information on the statements to match up receipts I keep to transactions. i.e. lloyds have a 'statement date and a transaction date' where the statement date is the 'delated date' and the transaction date, is a precise date and time when the card or payment was made.

 

The FCA referred me to the UK Payment Administration... I've left my number on their v-mail so just waiting for a call back.

 

Thanks for the heads up about the FCA :)

 

Just as a heads up, FCA could regard this as a communication issue, but they advised I contact the 'head of customer relations'... if you want to add it to the CGA 'black book; or whatever here are their details:

 

Name: Paul Maddox

Tel: 0800 282390

eMail: [email protected]

Title: Barclays Head of Customer Relations

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