Standing Orders

Starbug

Hello,

I setup a standing order from my Halifax HI Current Account to take £500 every month into Halifax Regular Saver, details are definitley correct yet the moneys still not moved and the S/O was due to run today. Do they have a certain time they run at or is something wrong?

Thanks
Chris

Starbug

Never mind, i rang halifax and the nice lady told me it can go out anytime today

Mikeyorks

The nice lady was telling you a load of rubbish .... I'm afraid. It can only go out 'anytime' if it's a manual SO and you push it. If (as you describe) it's an embedded SO in your current account (and set up at least 48hrs ago?) .... then it's the equivalent of a Batch based internal transfer and should go in the early hours of the date specified. Well before you posted in fact.

So if it's meant to hit the Reg Saver on the last permissible date of the month (28th .... i.e. today) I would ring them tomorrow and sort it out before they zap the Reg Saver as not meeting the T&Cs?

No hassle - simply set up a standing order so the payment is automatically paid each month (must be on or before the 28th of each month)

Tally-Ho_2

Mikeyorks wrote: »

The nice lady was telling you a load of rubbish .... I'm afraid. It can only go out 'anytime' if it's a manual SO and you push it. If (as you describe) it's an embedded SO in your current account (and set up at least 48hrs ago?) .... then it's the equivalent of a Batch based internal transfer and should go in the early hours of the date specified. Well before you posted in fact.

So if it's meant to hit the Reg Saver on the last permissible date of the month (28th .... i.e. today) I would ring them tomorrow and sort it out before they zap the Reg Saver as not meeting the T&Cs?

Just a quick question if I may. I have a Standing Order set to to go out of my current account on the 30th of every month. Does that mean it actually goes out on the 28th (I manually change it for February but every month it seems to go out on the 30th).

Thanks

Tally

Mikeyorks

No (I'm assuming it's to an account outside the Bank you hold the current a/c with) .... it will go out in the early hours of the 30th. Or the early hours of the next working day if the 30th is a non-Bank working day.

Even if your Bank supports Faster Payments outwards - SOs don't work on non-Bank days. (But the OP is different .... Halifax do internal transfers on non-Bank days).

The reference to the 28th is that the calendar month the Halifax Reg Saver works to .... ends on the 28th. Which obviously is something to do with guarding against problems they've had caused by Feb.

Tally-Ho_2

Mikeyorks wrote: »

No (I'm assuming it's to an account outside the Bank you hold the current a/c with) .... it will go out in the early hours of the 30th. Or the early hours of the next working day if the 30th is a non-Bank working day.

Even if your Bank supports Faster Payments outwards - SOs don't work on non-Bank days. (But the OP is different .... Halifax do internal transfers on non-Bank days).

The reference to the 28th is that the calendar month the Halifax Reg Saver works to .... ends on the 28th. Which obviously is something to do with guarding against problems they've had caused by Feb.

Many thanks for that. It is clearer in my old brain now.

Thanks

Tally