"Timed out payments" - in app extension


Obviously there has been a lot of discussion on here around the payment “reversals”. I know there was talk of 7 day and 30 day time periods and was wondering if it would be a good idea to have a push notification after say 6 days saying “Transaction for £10 to Retailer X has not yet been claimed - This holding transaction will reverse in 1 day” - and then within the app you have the option to extend this to the 30 days. This issue hasn’t affected me but it seems like a good way for people to get what they want - i.e. still being able to account for the money if it hasn’t been claimed within the 7 days


I get what you are saying, but personally I think that is complicating an issue that very rarely happens. If the bank in this case Starling releases after 7 days automatically then no need to extend it to 30 as it’s not the banks policy to hold them for 30 days on the off chance.

In the past companies have gone past the 7 days, but its not standard practice by any major bank to hold for longer than needed, and no bank holds for 30 days as there really isn’t a need.