Alliance & Leicester Faster Payments out

youreds

Hi all
I have an A&L current account & the new 6.6% esaver. I am able to do a faster payment into the account no problem, but that doesn't seem to be the case for payments out, even though they were a founder member of the scheme.
Has anyone else succesfully done one outwards? The various info I can find on the web indicates it should work.
I want to take advantage of the Tesco savings clubcard points offer, which will involve me clearing all but £1 of the esaver into the current account on November 1 (to avoid losing a months interest) & then do a faster payment to Tesco, then bang the whole lot back on December 1.

Cheers

Youreds

MPH80

Looks to me like the A&L sending service has only just started (the wikipedia entry was updated around October 13th or so). I'd bet they are having teething troubles - most of the other banks did.

Helix

Worked for me yesterday. Transfered £50 from my A&L account to my Lloyds TSB account and it transfered instantly.

Milarky

youreds wrote: »

Hi all
I have an A&L current account & the new 6.6% esaver. I am able to do a faster payment into the account no problem, but that doesn't seem to be the case for payments out, even though they were a founder member of the scheme.
Has anyone else succesfully done one outwards? The various info I can find on the web indicates it should work.
I want to take advantage of the Tesco savings clubcard points offer, which will involve me clearing all but £1 of the esaver into the current account on November 1 (to avoid losing a months interest) & then do a faster payment to Tesco, then bang the whole lot back on December 1

http://www.alliance-leicester.co.uk/savings/esaver.aspx

Access your money within 24 hours when a transfer is made into your Alliance & Leicester current account; or up to 3 working days for transfers to a current account with another provider.

Not exactly a route to Faster Payments then? Since you are going to transfer on 1 November for this other deal anyway, then I suggest you attempt to make a token £1 payment on that date and see what happens (at the moment you don't know what should happen if you request a transfer to Faster Payments-receiving organisation since you can't try it out) Assuming the payment is received instantly then try larger amounts. Make as many payments this way you need to empty the A&L e saver.

If you have an A&L current account then you could try pushing through to there first.

It's just occurred to me that 1 November is a Saturday. Could this affect transfers and or 'instant payments' with A&L?

(As I said, not exactly a route to Faster Payments then?)

youreds

Milarky wrote: »

http://www.alliance-leicester.co.uk/savings/esaver.aspxNot exactly a route to Faster Payments then? Since you are going to transfer on 1 November for this other deal anyway, then I suggest you attempt to make a token £1 payment on that date and see what happens (at the moment you don't know what should happen if you request a transfer to Faster Payments-receiving organisation since you can't try it out) Assuming the payment is received instantly then try larger amounts. Make as many payments this way you need to empty the A&L e saver.

If you have an A&L current account then you could try pushing through to there first.

It's just occurred to me that 1 November is a Saturday. Could this affect transfers and or 'instant payments' with A&L?

(As I said, not exactly a route to Faster Payments then?)

The esaver is linked to an A&L current Account so all should be well even though it's a Saturday. I still have last years version of the esaver open with the same restrictions (851**** account number), this has just let me transfer a quid from the current account & back & the balances have updated instantly (I've lost a months interest on £1.61 doing it), so I hope it's the case with the esaver.

Anyway, after reading the comments I just tried a quid from A&L to First Direct & it went instantly this time . They must have sorted it. Bizarrely I sent the quid back & it's not there.
The things you do for some clubcard points.

Youreds.

System

Their Internet Banking seems generally unstable.

I've sent 2 payments to the same place, within 5 mins of each other.
The first went via faster payments, the next took 3 days (presumably by BACS)
Inward can be hard to tell with their 3 different balances.

youreds wrote: »

Hi all
I have an A&L current account & the new 6.6% esaver. I am able to do a faster payment into the account no problem, but that doesn't seem to be the case for payments out, even though they were a founder member of the scheme.
Has anyone else succesfully done one outwards? The various info I can find on the web indicates it should work.
I want to take advantage of the Tesco savings clubcard points offer, which will involve me clearing all but £1 of the esaver into the current account on November 1 (to avoid losing a months interest) & then do a faster payment to Tesco, then bang the whole lot back on December 1.

Cheers

Youreds

anruari

It's now end of June 2009 and A&L are still not processing outgoing standing orders via the faster payments service.

They said they would sort this out by the end of summer 2008

I have tried splitting my payment in 2, so one part of the payment is £200 (they don't state their limit but I believe it is £250)

That still dosen't work.

Is it worth a mass protest via the official complaints channels?

td_007

Still no outward payment possible (or at least for amounts greater than £500) though inward into A&L come through immediately (from first direct)

blueberrypie

anruari wrote: »

It's now end of June 2009 and A&L are still not processing outgoing standing orders via the faster payments service.

They said they would sort this out by the end of summer 2008

I have tried splitting my payment in 2, so one part of the payment is £200 (they don't state their limit but I believe it is £250)

That still dosen't work.

The limit is £250 per day, per account. In the above scenario, your first payment would usually go FP, but not the second.

If you have two accounts with A&L (e.g. a Premier Current Account and a Premier Direct Account), you can send £250 from each of them on the same day (but if you're thinking you'll transfer the second £250 to your second account in order to send it from there, don't bother, because the money won't be available until the next day anyway).

And if you hold a joint account, each of the account holders can send up to £250 per day from the same account.

HTH

johnmoney05

blueberrypie wrote: »

The limit is £250 per day, per account. In the above scenario, your first payment would usually go FP, but not the second.

Where did you get this idea from?

I did 2x£250 to Halifax, 1x£250 to Tesco and 1x£90 to First Direct on 1 July. All went into the accounts on 1 July.

My guess is A&L does not process FP on standing order. (just pure guess)

masonic

johnmoney05 wrote: »

Where did you get this idea from?

I did 2x£250 to Halifax, 1x£250 to Tesco and 1x£90 to First Direct on 1 July. All went into the accounts on 1 July.

As blueberrypie said, the limit is £250 per day per account. I'm assuming each of those four payments went to different account numbers. It's not possible to send multiple payments to the same account at all online with A&L, faster payments or otherwise.

My guess is A&L does not process FP on standing order. (just pure guess)

You guessed correctly (last time I checked).