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Topic # 160594 12-Jan-2015 22:36
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Twice in the past three months year I've put money onto my Visa card only to find that while the money went from my bank account on the day I made payment, several days later it's still not showing in my Visa account.  The first time it was over a week before the money showed up and that was only after I'd made several phone calls to find out where it was.  This time its now over three days, paid mid afternoon on Friday and still not there tonight.  

I know the weekend extends things, thought I can't see why it should in this day and age of Electronic Funds Transfer. The money is transferred almost immediately when you do an EFTPOS transaction no matter the day.  However this payment was made before the weekend and I would have expected it to have been processed on Friday. 

One of the real problems with Visa is there is no way to contact them, try going on line and clicking the contact us link, all you are able to do is request a media pack which isn't exactly all that helpful.  The only way to get hold of Visa is through your bank during normal working hours.

There's some real disconnects in the banking system.  If it's possible to make immediate payments between some banks why can't the likes of Visa get their act together?

Has anyone else experienced similar issues?




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  Reply # 1212821 12-Jan-2015 22:41
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who issued the card? Visa doesn't do this themselves but thru a NZ bank

is your bank account with the same issuer?

when I transfer money from my cheque/savings account to my VISA from same bank it goes instantly



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  Reply # 1212827 12-Jan-2015 22:46
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nathan: 
is your bank account with the same issuer?

when I transfer money from my cheque/savings account to my VISA from same bank it goes instantly


Yep bank account is with card issuer.




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  Reply # 1212829 12-Jan-2015 22:48
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Technofreak:
nathan: 
is your bank account with the same issuer?

when I transfer money from my cheque/savings account to my VISA from same bank it goes instantly


Yep bank account is with card issuer.


what did the bank say about it?

I have a visa with both ASB and TSB bank, and when I put money onto either of them it goes instantly, not 3+ days later FWIW

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  Reply # 1212836 12-Jan-2015 22:54
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When I transfer from my bank account to my credit card (both under the same Internet Banking access, card issued by bank) it goes instantly, like any other transfers. When I pay my Amex it takes two business days, but that's leaving my bank.

Is the card issued by this bank under the same IB access? 







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  Reply # 1212840 12-Jan-2015 23:04
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nathan: 
what did the bank say about it?

I have a visa with both ASB and TSB bank, and when I put money onto either of them it goes instantly, not 3+ days later FWIW


I didn't notice till after hours so I haven't been able to speak to the bank (TSB).


freitasm:
Is the card issued by this bank under the same IB access?


Yes, same internet banking access.




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  Reply # 1212852 12-Jan-2015 23:09
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maybe you should change banks? what bank are you with?




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  Reply # 1212854 12-Jan-2015 23:11
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joker97: maybe you should change banks? what bank are you with?


I don't think the problem is with the bank.




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  Reply # 1212876 13-Jan-2015 01:21
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Technofreak:
joker97: maybe you should change banks? what bank are you with?


I don't think the problem is with the bank.


I can 100% assure you that it is. VISA is effectively just the transaction network. Your card account is held and maintained by the financial institution that issued your card, in this case TSB.

It's up to them to process and clear payments to your account, and it sounds like they are behind the game compared to most banks.




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  Reply # 1212883 13-Jan-2015 02:26
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I find if I manually transfer funds from my account into a credit card, the available find increases immediately even on a weekend. If the deposit from the same account to the same card is done via AP, then it's not there until the next business day. In the banking world, that means if the AP is made on a Friday, then I won't see the available balance go up until the following Tuesday.

Regardless of how the money is put on the card, the transaction isn't visible on the credit card statement for anything from 2 to 5 days.

Really don't know why this stuff isn't always instantaneous with current technology.




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  Reply # 1212884 13-Jan-2015 02:39
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Technofreak:
joker97: maybe you should change banks? what bank are you with?


I don't think the problem is with the bank.


I think it is, because I am with ASB, and I can have a transaction decline because I am over limit, open the app, put some money on the card and then it goes straight thru on the second go within 20 seconds of the first go.

Visa only process between merchant and the bank, not between your bank and your bank. If you are paying between banks, like paying a gem visa or a warehouse mastercard from your bank, those also never touch the credit card companies networks, they are standard inter bank transfers.




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  Reply # 1212895 13-Jan-2015 06:55
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proof that black holes do exist




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  Reply # 1212901 13-Jan-2015 07:26
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joker97: proof that black holes do exist


For years I've had evidence of Black holes. They swallow one sock from pairs and that screw driver you need and everything you put in that safe place.




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  Reply # 1212903 13-Jan-2015 07:32
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Make sure you are doing a funds transfer, not a bill payment. Also both bank account & VISA account need to be linked; I.E. you can access both with the one internet banking login.





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  Reply # 1212908 13-Jan-2015 08:03
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With ASB payments to credit card don't show up immediately. I don't know how long they take to appear on the Visa statement because I never bothered to look - if I make the payment on the 1st and the bill is due on the 2nd I've never been called late so I've never had reason to check.




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  Reply # 1212945 13-Jan-2015 08:54
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Technofreak:
joker97: maybe you should change banks? what bank are you with?


I don't think the problem is with the bank.


Are you sure? My payments show instantly and balance changes

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