How long does it take for funds Flagged for payment for online purchases to drop back into my current account. I bought 2 items from amazon and cancelled them both but the funds had already been flagged for payment, the money hasn't actually left my account yet and I need to make sure it drops back in before Friday.
I'm not 100% with Tesco Bank what the timescales are, however what I do know is below. 1) when you place the order the retailer resvers the funds on your account then they have 15 days to compleate the transaction. 2) If the transaction is not compleated after 15 days the funds will automatcially release on your account. 3) It all depends on how Amerzon is going to refund you they can compleate the transaction and take the moey then put it back whitch is normally 3-5 working days. 4) the other option is they will never compleate the transation in whitch case that can take upto 15 days, hwever Amazon can contact the back and inform them they are not going to take the money, and this can take 3-5 working days As I said im not 100% on Tesco Bank however above is how the banking system works in genral for all banks, and timing can differ between banks.
When a company reserves the funds, there is a period of time in which the money isn't available to spend in your account. This is to give them the chance to take payment for goods/services. If a transaction is cancelled after the company send a request, it can usually take about the same amount of time as a regular refund, so about three to five working days to appear back in the available balance.
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Tesco Bank Community Terms of Service v 1.0
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18-07-16 22:01I'm not 100% with Tesco Bank what the timescales are, however what I do know is below. 1) when you place the order the retailer resvers the funds on your account then they have 15 days to compleate the transaction. 2) If the transaction is not compleated after 15 days the funds will automatcially release on your account. 3) It all depends on how Amerzon is going to refund you they can compleate the transaction and take the moey then put it back whitch is normally 3-5 working days. 4) the other option is they will never compleate the transation in whitch case that can take upto 15 days, hwever Amazon can contact the back and inform them they are not going to take the money, and this can take 3-5 working days As I said im not 100% on Tesco Bank however above is how the banking system works in genral for all banks, and timing can differ between banks.
ScottW
