Payment debited from account but not showing with recipient (Very)

[NotAnotherUserName5]

I bought a washing machine with Very this morning, and as I didn't have our debit card to hand I did the the interest free option with the plan to pay it off my balance a couple of hours later.

Went to make the payment, all great went though, got a confirmation of payment email, but didn't show up in my balance. Still saying I owe £300 despite it going out of our the bank account and showing debited.

Very say this is what they call a 'ring fenced' payment? Something to do with our bank holding the funds and that they will release them back to us. DH is going into the branch tomorrow to find out what our bank actually say, but has anyone experienced anything like this? Will we get the money back?

I'm a bit edgy about £300 seemingly going missing.

A debit/credit card transaction can take up to 3 working days to clear. A bank payment same again if Very haven't got the ability to differentiate faster payments from other types of payment. And all of that assumes you didn't make an error!

Thanks. I don't see how it could be an error on my part-was my account and our bank card. So no risk of entering wrong account number to Very, surely?

Payments have always been instant before.

Just way the banking system works. Have seen it happen before. You pay, it gives the ok as you have the funds available but doesn't debit your account straight away. It will happen over next few days.

If you sent the pay,net into their account today, it won't have been allocated to your account yet. Think about It as if someone sent a payment to your account to pay for a carthey we're buying from you but you hadn't checked your account balance yet, the money is there but your don't know the car has been paid for yet because you haven't allocated it to that yet.

They can take up to 5 days to allocate it so it might not show yet.... don't panic!

Basically the payments been authorised, your bank has promised the 300 to very and is showing it unavailable to you to use. The authorisation stays on your account for about 10 days, or until very actually take the 300. If they didn't take the 300 it would show as available to spend in your account again after the 10 days are up.

Thanks.

Still not showing today. I've had an account with them years and this has never happened. They (Very) are adamant no payment has been made.

I think the problem is that you added it to your account and the purchase will not show until your next statement.

If you order again I think the best option is either pay in full at the point of ordering or add to account as an interest free option then pay in full when you get your statement.

Another thing to check is your credit allowance, they haven't stuck the £300 up there and its showing as your full allowance even though you have made an order? It might have and then balance out automatically once your statement has come in and the payment has something to offset?

Just show them the payment confirmation email you have said they've sent?

My next balance doesn't usually show for a couple of days.