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

ekimnas

Lokolo wrote: »

Theres not mass confusion. Different banks have different rules on FPS at the moment as its only just been implemented. As I pointed out, this information was available:

http://forums.moneysavingexpert.com/showpost.html?p=16003421&postcount=20

I agree its pretty lame that it didn't tell you in the transaction, by which time it is too little too late but the infos available.

HSBC tells you if your payment will go through as FPS or not, Lloyds does too (not so easily, just tells you it won't leave until tomorrow and will arrive 3 days later, in payments section). I don't bank with Halifax (well I do but I only put money in, not out yet) so not sure how their payments work (although I do now )

All I want the Halifax to do is:

1. Make it clear at the point of making the transfer that there is a £500 limit

2. Make it clear that if you exceed the £500 limit that the payment could take 3 bank working days.

3. Train its staff properly so that they know how FPS works

Customers should not have to search the internet to find out how a bank operates its FPS - that information should, surely be available, in a pop up box, maybe, for all to see. Its all about being transparent instead of secretive.

Lokolo

ekimnas wrote: »

All I want the Halifax to do is:

1. Make it clear at the point of making the transfer that there is a £500 limit

Agreed, all banks should do this.

ekimnas wrote: »

2. Make it clear that if you exceed the £500 limit that the payment could take 3 bank working days.

I think they should do this as HSBC to do, say how long it will take and then you have to confirm the payment.

ekimnas wrote: »

3. Train its staff properly so that they know how FPS works

No bank does this so I doubt Halifax would lol. :rotfl:

moominyak

DesG wrote: »

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.

Hi Des,

We use BOS at work, and when the FP option appeared I rang them to check the cost, I was told it was £5 per FP.

Needless to say I've stuck with BACS!

On the Business a/c there is a check-box to tick if the user wants to send the payment as an FP (and pay for the privilege).

With personal banking I think they send them as FPs when possible (under the £500 limit and to an FP-receiving sort code) - as it's free for personal customers I suppose there isn't much point in offering the choice as to whether it goes by FP or BACS.

I have found (with the HBOS personal banking) that for future-dated payments, even though I get the message saying the payment will take up to 3 working days, it will go by FP as long as the receiving end's sort code is FP-friendly.

I have also found that payments sent as BACS from the HBOS business account will arrive in the receiving a/c the same day if the receiving a/c is also HBOS (although it generally doesn't show online until the following day (but with the previous day's date). Future dated payments from HBOS to HBOS show in the receiving a/c on the day they've left the business a/c (eg. my wages ).

lesley1960

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.

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.

bank of Scotland charge £5 for every fast payment or rather they charge me as a business account ( not sure if personal accounts get charged the same )


Barclays fast payments are brilliant , have known them to arrive in a halifax account within seconds ....and they dont charge me

jennifernil

malc_b wrote: »

Nope, not there. I've just tried to make a payment and on the page where you enter the sum and date there is a link to FP faq here http://www.halifax.co.uk/onlinebankinghelp/fasterpaymentsfaqs.asp but on that page there is no mention of a limit. And I've tried a google search of halifax.co.uk for 500 faster payment. All that finds in some pdfs where faster payments are mentioned and £500 phone insurance cover (ultimate account benefits I think).

And having done 3 FP yesterday I cannot do a FP today. So I'm not sure the limit is 3 FP per day, perhaps it is 3 per week since the last time FP stopped for me it stopped for 7 days.

Hmmm....no I can see it is not there! Sorry, I must have found it somewhere on the site or I would not have known. I found the same info as Lokolo gives in his 3rd link SOMEWHERE!

I will need to try out your 3 per week theory as I also could not make more FPs after making 3 last week.

YorkshireBoy

Halifax wrote:

When a payment is sent via BACS all funds are sent in the early hours of the morning, therefore any requests made before 6pm will be sent at the next available time, being the next working day.
Any payment submitted after this will be sent on the second working day. This is in line with standard UK banking procedures.

Absolute claptrap! It's in line with Halifax's and A&L's "banking procedures" only...the 'real' banks operate a day less.

ekimnas wrote:

All I want the Halifax to do is:

1. Make it clear at the point of making the transfer that there is a £500 limit

2. Make it clear that if you exceed the £500 limit that the payment could take 3 bank working days.

With regard to 1), you can deduce (by experimentation) the limit. Not good, but it is possible.

With regard to 2), you're always informed "at the point of making the transfer" of the timescale, ie whether the payment is going by FP or by BACS.


Halifax Bank of Scotland could learn an awful lot from the likes of FD and HSBC, both of whom have impressed me greatly with their FP systems.

ekimnas

YorkshireBoy wrote: »

Absolute claptrap! It's in line with Halifax's and A&L's "banking procedures" only...the 'real' banks operate a day less.
With regard to 1), you can deduce (by experimentation) the limit. Not good, but it is possible.

With regard to 2), you're always informed "at the point of making the transfer" of the timescale, ie whether the payment is going by FP or by BACS.


Halifax Bank of Scotland could learn an awful lot from the likes of FD and HSBC, both of whom have impressed me greatly with their FP systems.

Sorry but with regard to 2) Halifax do not inform you whether the payment is going by FP or BACS at any point - even when you phone and ask 2 days later they don't know!!!

rb10

ekimnas wrote: »

Sorry but with regard to 2) Halifax do not inform you whether the payment is going by FP or BACS at any point - even when you phone and ask 2 days later they don't know!!!

Really??? Every time I've sent a payment I've been told before I click submit.

If it's going FP, it'll say:

Your payment will be sent immediately and should reach the recipient within 2 hours*. We'll advise you of the outcome after submitting the payment.

Fedz

When I send small amounts +/- £100 between different bank accounts with Halifax online banking it always tell me before I click 'submit' if it's going using FP.

YorkshireBoy

ekimnas wrote: »

Sorry but with regard to 2) Halifax do not inform you whether the payment is going by FP or BACS at any point...

I didn't say they did. If you read my post again you'll see I said...

"you're always informed "at the point of making the transfer" of the timescale, ie whether the payment is going by FP or by BACS"

It's then blatantly obvious, without the need to inform you specifically, whether the payment is going by FP or BACS...isn't it?

rb10 has reminded you of the FP message. Here's the BACS message for a payment >£500 requested today, Wednesday...

You have selected today's date. On this occasion we're unable to send this as an Immediate Faster Payment.

Your payment will be sent on 05/12/2008 using our bill payment service.