Standing order by Faster Payments on 1 Dec (Mon)

firsttimestudent

Hi,

I have a Natwest account and also a Barclays Monthly Saver. I use my Natwest account to feed the Barclays Monthly Saver by Standing Order (Faster payments).

My next S/O will leave on 1 Dec, which is a Monday.

I remember in the old BACS days, funds for the S/O on Monday will be reserved by Natwest on Saturday night/Sunday.

I was wondering - if my S/O were set to leave on 1 Dec, will Natwest process them on Saturday/Sunday, and as a result, my payments will reach Barclays on Saturday/Sunday (which means I'll risk breaking the T&Cs) - or will it not happen, and still reach Barclays on 1 Dec?

I don't have a current account with Barclays, hence can't check it by online banking!

Thanks for any help here.

Milarky

Standing Orders by all the banks are now only set to go on Monday-Friday. This was always part of the Faster Payments proposal. Only single payments can go on the weekend. So you shouldn't ever get caught out.

Where you need to take care is in ensuring that the NatWest account has a sufficient balance or a sufficient overdraft limit to cover any automated payment.