Faster Banking!!..I don't think so !!!

Lokolo

1. Yeh but I don't see the point in spending time going to town when you can do it at home and save time

2. Ok fair enough, sorry for calling you stupid OP. But don't go go saying silly things like 'Banks are all criminals'.

3. I can't. ooo I just did hehe.

4. I can't help being so amazing :rotfl: :cool:

jennifernil

malc_b wrote: »

Halifax have limits. You won't know there are limits because Halifax, almost certainly breaking FSA rules on keeping the customer informed, do not publish the rules online in the FP pages. The current maximum FP is £500 (the system limit is £10k). There is also a limit of 3 FP per day (or may be 3 FP to same account per day).

I found info on the £500 limit on the Halifax website, but not the bit about a limit of 3 payments, so that is useful to know.

moominyak

Lokolo wrote: »

1. Yeh but I don't see the point in spending time going to town when you can do it at home and save time

2. Ok fair enough, sorry for calling you stupid OP. But don't go go saying silly things like 'Banks are all criminals'.

3. I can't. ooo I just did hehe.

4. I can't help being so amazing :rotfl: :cool:

1. Neither do I, but there will always be Luddites :rolleyes: I'm guessing the money isn't available 3 days before it's required.

2. Glad we're all friends again

3.

4. And so modest!

malc_b

jennifernil wrote: »

I found info on the £500 limit on the Halifax website, but not the bit about a limit of 3 payments, so that is useful to know.

Where is it on the Halifax Website? I must admit I did not find it when I looked and I had to ring up to ask why.

Now, on the other hand I have a business account with Bank of Scotland, also part of HBOS. Their limit is 10k same as FP overall limit, plus if to try to use FP for 11k they helpfully pop up a message saying you cannot use FP for sums greater than 10k. There is no excuse for Halifax. IMO they are just trying it on to see how long they can get away with hobbling FP.

DesG

malc_b wrote: »

I have a business account with Bank of Scotland, also part of HBOS. Their limit is 10k same as FP overall limit

Sorry for the OT, but can I just check if they charge for FPS on your BOS business account?

(Getting rapidly peed off at A&L "no FPS at all" business account)

Cheers, Des.

ekimnas

rb10 wrote: »

When you sent the payment from Halifax, the final confirmation screen would have told you whether the payment would be sent by FP or by BACS. So you would have known before clicking Submit whether it would go straight there (or, "up to two hours", as they say) or take 3 working days.

As, presumably, it said it would go by BACS, it can't be a surprise for it not to have arrived yet.

On doing the transfer I got a confirmation that the transfer would be done on December 1st - nothing about how it would be paid

jennifernil

malc_b wrote: »

Where is it on the Halifax Website? I must admit I did not find it when I looked and I had to ring up to ask why.

I am no good at links, but when you get up the "transfer money" screen for your account there is a link to info on faster payments, it talked about the £500 limit at the bottom of the page IIRC.

ekimnas

Lokolo wrote: »

Every month you used to go into town to take money from one bank to the other? Had you not heard of BACS?

And its not being held by the millions of others money that has got lost so the banks are earning interest, stop being stupid.

Can Halifax send via FPS? If you read their Faster Payments page it says this:

Please Note. Some accounts may have special conditions. For example, special conditions could include:
• Accounts which only allow one credit each month
• Accounts which only allow credits up to a certain value each month

Maybe there is a limit of say £500 on your accouunt or something?

http://forums.moneysavingexpert.com/showthread.html?t=1269991&page=3

^^ read the last post on the page, the limit is £500 woo I was right

So come on Mr Clever !!!!!! where is the money that leaves an account on one day and then does not reappear until three days later - it is in a holding account with all the other held payments earning interest for the banks - that is what it is all about STUPID!!

Lokolo

ekimnas wrote: »

So come on Mr Clever !!!!!! where is the money that leaves an account on one day and then does not reappear until three days later - it is in a holding account with all the other held payments earning interest for the banks - that is what it is all about STUPID!!

Because that makes banks a criminal doesn't it......

Try reading the terms and conditions of making FPS with Halifax before yeh? Clever !!!!!!.

Its gone through as a BACS payment, not hard, they've been here for years.

ekimnas

jennifernil wrote: »

The maximum transfer on the Halifax faster payments scheme is £500 at present, so you need to break a larger transfer up into chunks of £500 or less .

And consider yourself lucky if it works at all!!

Aha someone with sensible, factual advice to give!!

Maybe Halifax should make this clear when the customer is doing the transfer but they don't and we all know why!!