Main site > Forums > Essential Money > Budgeting & Bank Accounts > Transfers from Santander to Barclays (Page 1)

IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
Transfers from Santander to Barclays
Closed Thread
Views: 5,474
Thread Tools Search this Thread Display Modes
# 1
Old 24-03-2011, 6:46 PM
MoneySaving Convert
Join Date: Mar 2011
Posts: 22
Default Transfers from Santander to Barclays

Hi all,

I wonder if anyone can help me. I have a current account with Barclays and just started a new job. The company is small and my boss makes all the payments of wages via online banking. I was paid today and the money hasnt reached my account. I spoke to Barclays who said that 99% of banks now use the faster payment scheme which allows money to clear the same day. so I waited till 6pm and nothing so I rung Barclays back who said that it looks like it will be 3 working days now being over a weekend that is 5 days without money. And to make matters worse being in a new job I have now gone 6 weeks without money.

So my first question is...
How long does a transfer from Santander to barclays take?

And my second question...
Seeing as the money had left my boss account but not made it to my account is the bank earning interest from it?

I remember reading about something where someone complained to their bank about the interest they were earning off their money and I think that's what prompted this faster payment scheme.

Is this another "bank fee" issue and if so would it be worth writing to my bank!

Any help would be appreciated!

Thank you

Amiz87 is offline
Report Post
# 2
Old 24-03-2011, 6:54 PM
Deliciously Dedicated Diehard MoneySaving Devotee
Join Date: Nov 2004
Posts: 24,784

Sounds like the company are using BACS transfers, rather than the (pretty standard for UK wages) BACS direct credit system.

If so, anything over £300 or so will go by BACS from Santander.

No point at all in contacting your bank.

And, yes, the banking system makes 'float interest' on the cash whilst it's in BACS transfer transit (but not on Bacs direct credit payments, which are simultaneous debit/credit).
YorkshireBoy is offline
Report Post
# 3
Old 24-03-2011, 6:57 PM
Fantastically Fervent MoneySaving Super Fan
Join Date: Jan 2009
Posts: 3,762

Santander have probably the worst implementation of Faster Payments.
But in this case it is your employers responsibility to make sure you are paid on time (in your account) not the bank's.
anselld is offline
Report Post
Closed Thread


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.

All times are GMT. The time now is 1:26 AM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 01 April 2015

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed


Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

MSE's Twitter Feed