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Faster Banking!!..I don't think so !!!
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...I work on the fraud monitoring of fps...
Surely your fraud (and other) systems are as robust as the others I've listed above?
And what does SIP stand for please?0 -
YorkshireBoy wrote: »Then please could you offer some reasoning as to why I can send £10K FP's from HSBC, FD, Tesco (and therefore presumably RBS/NatWest), et al...and have been able to for some considerable time now...yet with Halifax I'm still limited to £500.
Surely your fraud (and other) systems are as robust as the others I've listed above?
And what does SIP stand for please?0 -
YorkshireBoy wrote: »(and therefore presumably RBS/NatWest)
Yes, you can certainly include NatWest, YorkshireBoy: up to £10K from the start, no phase-in, never any problems, works a treat.~cottager0 -
SIP is single immediate payment,if you set up a bill mayment mandate you can send up to £15k max, you can send more by making multiple £15k mandates to the same account
Could you reply to my first question?0 -
YorkshireBoy wrote: »Thanks.Yes, I've made use of it many times...and suffered the obligatory loss of interest for a day longer than my other accounts!
Could you reply to my first question?
Also to the ops point, the bank will transfer the money only to the sort code and account specified, perhaps the details were wrong and the money has gone to a black hole or somebody elses account0 -
that was the answer
Here's my first question again...Please could you offer some reasoning as to why I can send £10K FP's from HSBC, FD, Tesco (and therefore presumably RBS/NatWest), et al...and have been able to for some considerable time now...yet with Halifax I'm still limited to £500.
Surely your fraud (and other) systems are as robust as the others I've listed above?0 -
Also to the ops point, the bank will transfer the money only to the sort code and account specified, perhaps the details were wrong and the money has gone to a black hole or somebody elses account0
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Going off-track from Halifax for a moment, I wrote to Abbey the other day asking when they would be implementing Faster Payments and their reply yesterday may be of interest:
Thanks for your e-mail.
When you send a payment using a Bill Payment facility you should allow four bank working days for the funds to reach the destination account. Extra time should be allowed for weekends and bank holidays, as these are non-bank working days.
The following explains what happens to your funds when you send a payment:
# Day one, the funds leave your account.
# Day two, the funds are received by BACS (Banking Automated Clearing Service).
# Day three, BACS then forward the funds on to the relevant destination account.
# Day four, the recipient company credit the funds from their account, to your chosen account. The timescale at this stage is dependant on the receiving company distributing funds from their holding account to individual accounts.
Abbey is one of the 13 founding members of the initiative and believes the scheme has significant benefits for our customers. Abbey is committed to making this a success at the earliest opportunity and expect to begin a phased implementation of the Faster Payments service before the end of this year.
If you've any further queries, please don't hesitate to contact us. To find the most appropriate telephone number, please visit our website:
www.abbey.com
From the homepage:
Click on 'Contact Us' in the top right-hand corner
Click on the relevant product type
Click on the red 'By phone' tab
Regards, etc
Hmmm... looking at that word 'phased', another fun experience ahead?~cottager0 -
There is no limit on the amount of transacyions, £500 for a sip and £15000 for a bill payment. This is fact as I work on the fraud monitoring of fps so please get your facts right
I could say the same to you. I'm recording my experiences in this post
http://forums.moneysavingexpert.com/showpost.html?p=16421227&postcount=53
which I'm updating daily at the moment. Since making 3 x 500 transfers to Tesco on 2 Dec FP have NOT worked for any FP to Tesco since. Plus when I have phoned Halifax I have repeatedly been told there is a £500 limit for FP (by the staff that know which is not 100%). And Halifax to Tesco is a bill payment not instant. Plus you don't even have your faster payments info correct. £15k is the BACs limit. If you read the bottom of this APACS page
http://www.apacs.org.uk/payments_industry/how_fps_works.html
It clearly says that the FP system (apacs) has a £10k limit.
As you can see from the post with my results the last time FP stopped working for me it took over a week and this BTW happen when I did 2 FP one day and then 1 the next (I couldn't do a second that day). It took over a week for FP to re-enable. The later time I did 3 FP in one day then FP stopped. It still is not working and it is looking like being a week before it starts again. No one at Halifax ever has an explanation for me when I ring to ask what is going on. Hopeless! As far as I am concerning if it looks like a duck and quacks like a duck then it is a duck - there is some limit which to me looks to be 3x500 FP per week. If you can explain my experiences any other way then do tell!0 -
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