Faster Payments System FPS - Current state of play

blueberrypie

Milarky wrote: »

Has ANYONE out there has actually sent £2500 by FP from a Halifax?

I made a payment of £2476 on January 17th, from one of my Halifax accounts - it went by FP.

chexum

premierfella wrote: »

Citi's diary card must have come out recently to update the date on their Faster Payments FAQ page.
Now planned by the end of March 2011 (credibility attached to this date: zero)
http://www.citibank.co.uk/personal/banking/customerinfo/usingyouraccount/movingmoney/fasterpay_faq.htm?merchant=citi

Just to keep tabs on them - March drew too close, so it's now "by" June...

"When will Citi offer Faster Payments? We are planning to go live with a Faster Payments service by June 2011"

[Deleted User]

hopefully metro bank will offer it soon
upshot - lloyds tsb limit is now £15,000

proeleche

vinh1000 wrote: »

hopefully metro bank will offer it soon
upshot - lloyds tsb limit is now £15,000

Metro Bank have informed me that they will go live with faster payments when they have hit a customer theshhold set by the FSA, and that this will be in the next couple of months.

premierfella

proeleche wrote: »

Metro Bank have informed me that they will go live with faster payments when they have hit a customer theshhold set by the FSA, and that this will be in the next couple of months.

I'm liking the references to "will" rather than the worthless "planning" commitment that Citibank has. I'll certainly take another look at Metro Bank if and when they implement Faster Payments.

dougz_2

Just had letter from Chelsea Building Society saying my savings account will have FPS incoming on 26 April, and FPS outgoing at "end of 2011". I am hoping similar will come with my Yorkshire BS accounts but not heard anything yet.

King_Of_Fools

Milarky wrote: »

Has ANYONE out there has actually sent £2500 by FP from a Halifax?

I have sent a number of £2500 FPs from Halifax in the past with no problems. Until today, the first time I have tried using the new Lloyds-style online banking and it would not send even £1000 by FP.

I am a bit annoyed if they have moved over to the Lloyds-style banking with all its disadvantages and we do not even get the advantage of being able to send FPs for up to £2500, let alone £15000!

Also, credits to my account are taking one day longer than they used to!

Akom

Transferred £12 from A&L/Santander current account on Friday and it arrived in my Halifax current account on the Wednesday!!!

Am i missing a trick here???

YorkshireBoy

Akom wrote: »

Transferred £12 from A&L/Santander current account on Friday and it arrived in my Halifax current account on the Wednesday!!!

Am i missing a trick here???

Was it the first time you'd sent money to that account? If so, I believe these always go by BACS from Santander. Future transfers will go by FP, subject to any limit applying at the time.

Chris2000

dougz wrote: »

Just had letter from Chelsea Building Society saying my savings account will have FPS incoming on 26 April, and FPS outgoing at "end of 2011". I am hoping similar will come with my Yorkshire BS accounts but not heard anything yet.

YBS already do inbound FP and, like everyone else, from 1 Jan 2012 they will be legally required to process outbound payments within 1 working day. A lot of banks and building societies seem to be leaving this until the last possible minute.