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Standing order times from Halifax to HSBC
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JimmyTheWig
Posts: 12,199 Forumite
I'm confused.
Wages go into Halifax. Bills come out of there.
Standing order set up from Halifax to HSBC weekly for spending money. This means that balance on HSBC is a pretty good indicator of how much we have available to spend.
Anyway, we've had this standing order set up for months. Used to leave on a Tuesday and arrive on a Friday. Perfect.
Then a while ago it arrived earlier - either Tuesday or Wednesday. This isn't too good as it meant we had to think about how much money we had and not spend "next week's" money.
I figured this wa due to "faster payments" so changed the SO to leave Halifax on a Friday. It didn't arrive until about Tuesday! Even worse than being early - we had to "borrow" money from Halifax and then pay it back - very confusing. Same thing happened for a few weeks.
So have now changed it back to leaving on a Tuesday. And it's coming in early again!!
So, anyone know when I should set up a standing order to leave Halifax to arrive in HSBC on a Friday? Or do we just need to leave it as it is until faster payments have settled down and then change it to leave on a Friday?
Both accounts are joint current accounts.
Wages go into Halifax. Bills come out of there.
Standing order set up from Halifax to HSBC weekly for spending money. This means that balance on HSBC is a pretty good indicator of how much we have available to spend.
Anyway, we've had this standing order set up for months. Used to leave on a Tuesday and arrive on a Friday. Perfect.
Then a while ago it arrived earlier - either Tuesday or Wednesday. This isn't too good as it meant we had to think about how much money we had and not spend "next week's" money.
I figured this wa due to "faster payments" so changed the SO to leave Halifax on a Friday. It didn't arrive until about Tuesday! Even worse than being early - we had to "borrow" money from Halifax and then pay it back - very confusing. Same thing happened for a few weeks.
So have now changed it back to leaving on a Tuesday. And it's coming in early again!!
So, anyone know when I should set up a standing order to leave Halifax to arrive in HSBC on a Friday? Or do we just need to leave it as it is until faster payments have settled down and then change it to leave on a Friday?
Both accounts are joint current accounts.
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Comments
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I'd had a similar issue before, so opened another current account with the Halifax, so any money is sent instantaneously and I always know exactly how much is left available to spend.
That doesn't really answer your question sorry, don't know if it's any help though?
Perhaps you should contact Halifax/HSBC and ask the reason for the fluctuations in the transfer periods.Sometimes I feel like a pelican. Whichever way I turn, I've still got an enormous bill in front of me.0 -
Good thinking. If things don't settle down then may go down that route.0
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It is 'Faster Payments'. Halifax appear to be switching it on and off a bit like the bathroom light.And varying the values which go via FP, to confuse customers more. It's supposed to be fully operational by the end of October ..... at which point you should be able to move the SO back to Friday.
There's a thread on it here :
http://forums.moneysavingexpert.com/showthread.html?t=1143485If you want to test the depth of the water .........don't use both feet !0
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