Overdraft facility - I am confused!


#1

I am confused as I went overdrawn on Tuesday by -£21.85. I did not know this was even possible until today when I logged into my Revolut account. I topped up £50, and now my balance is £28.15. Clearly you can become overdrawn and I can’t find a way to turn it off.


#2

It is impossible (usually). I would contact them via in-app chat (or Twitter)


#3


#4

your balance is correct but it isnt calculating correctly in the app and that seems to have confused :r:
You did indeed go overdrawn but i suspect its a bug not a feature you can turn on and off.

£55.01 - £13.19 = £41.82
£41.82 + £50 top up = £91.82
£91.82 - £10.05 = £81.77
£81.77 - £4.08 = £77.69
£77.69 - £99.54 = £-21.85
£-21.85 + £50 = £28.15


#5

I hope this is just a one off and I hope they don’t charge me overdraft fees…


#6

@AndreasK can you help here please


#7

you should be glad you didn’t get a declined at Tesco :wink: revolut saved you the humiliation :stuck_out_tongue:

but anyhow, what was the real order of those transactions?


#8

Is this connected with the difference between the date the transaction is made and the date it becomes completed??


#9

I also think so @TonyP


#10

So, without toping up again one of the pending payments would have been refused during next week or so, right?


#11

no, after getting the hold the transaction has to be paid. but on that picture I can’t see the alleged week.

over my time on this forum I’ve seen a couple of reports of negative balance and :r: then sending you an email asking you to pay.

it could be that other transactions, and not tesco’s, the ones that were pending or offline and messed up things

@AndreasK, can you enlighten us?


#12


#13

The Tesco visit was on the 29th and I topped up on the 31st.


#14

I wonder if that’s related to the acquirer issue in the UK a little while back that authorised transactions and then subsequently reverted them (making the balance once again available in Revolut) before taking the payment later.
Also, didn’t Tesco have a recent problem where transactions made months ago never got taken, only to be realized and taken well after the event?


#15

Hi there.

Firstly, this is not an overdraft, but negative balance due to an offline payment at Tesco. This happened, as the POS terminal was not connected to the network at that time, and your available balance was insufficient.


#16

what’s the limit for offline transactions?


#17

I don’t think there is a limit, as card payments are unlimited.


#18

If you could add the card to Apple Pay the device such as a phone could do the balance check even if the merchant services in the shop where off line. Seems to me that Revolut are missing a trick. Surely this movement is all about putting control in the hands of the consumer - as that’s what will truly differentiate them in the market.