Faster Payments System FPS - Current state of play
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FPS FAILURES:
- HBOS: Seems to be a limit of £1000 per day/transaction, some users reporting other issues.
Remember that whilst their immediate payments are being a little slower than some other banks in being set up, many, if not all, standing orders from HBOS are going by FP, whereas HSBC (listed as a 'success') are still sending standing orders by BACS.0 -
No, not at all so far (with online banking, anyway, though anecdotally it is available by phone banking).
So, are we 100% sure on this? I've just moved to LTSB and have set up a SO for the ex wife who banks with Natwest. Was told it was OK and FP will work on it - might be worth clarifying this with them later on....I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂0 -
Update to the first post: HSBC are accepting FPS for their credit cards as well. I THINK First Direct are the same, not sure.0
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[/list]I wouldn't call being able to do multiple immediate transactions of £1000 in a day a failure. Can they really be put in the same category as Abbey?
Remember that whilst their immediate payments are being a little slower than some other banks in being set up, many, if not all, standing orders from HBOS are going by FP, whereas HSBC (listed as a 'success') are still sending standing orders by BACS.
I suspect most people will judge success/failure be looking at how institutions deal with the speed/amount of immediate payments rather than standing orders.
Its really quite disappointing that more don't allow you to transfer upto £10,000 but impose a lower limit.
Looking at the first post though - I thought that the Lloyds TSB system was broken.. so that these payments could only be done by telephone banking and not online.
Regards
Sunil0 -
I had a flyer with my statement from nationwide saying that fp are nearly here. Did not give an exact date but indicated sooner rather than later.£2.00 Savers Club = £34.00 So Far
+ however may £2 coins I have saved in my Terramundi since 2000.
Terramundi weighs 8lb 5oz0 -
I have updated the first post with the following changes:
Added Citibank to the failures.
Added Lloyds TSB to the failures.
Added HSBC to the credit card list.
Cheers, Des.0 -
I wouldn't call being able to do multiple immediate transactions of £1000 in a day a failure. Can they really be put in the same category as Abbey?
Up until a couple of days ago their limit was £500, and their system regularly stops working. Others have reported only being able to send up to a total per day, not multiple amolunts of the total. Can anyone confirm if you can send multiple £1000 to different accounts on the same day with Halifax?
I do however agree with your point that they should not be in the same category as Abbey. I propose 3 categorys then, Failures, Getting there, and Fully compliant.Remember that whilst their immediate payments are being a little slower than some other banks in being set up, many, if not all, standing orders from HBOS are going by FP, whereas HSBC (listed as a 'success') are still sending standing orders by BACS.
I have mentioned in the first post that I havn't listed future dated FPS or standing orders as information about them is hard to get as not many people use future dated FPS or standing orders.
Can you confirm that all HBOS SO's up to £100,000 are going by FPS?
I was tempted to add HBOS into Lloyds TSB as they are now owned by them, but they still seem to be different as far as FPS goes.
Cheers, Des.0 -
So, are we 100% sure on this? I've just moved to LTSB and have set up a SO for the ex wife who banks with Natwest. Was told it was OK and FP will work on it - might be worth clarifying this with them later on....0
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I have mentioned in the first post that I havn't listed future dated FPS or standing orders as information about them is hard to get as not many people use future dated FPS or standing orders.
Then you'll be astonished by the APACS consolidated figures? (as I was)
That, allegedly, reveal 11M SOs sent by FP in Dec 08. Compared to 7M 'immediate' payments and close to 2M bill payments.
http://www.apacs.org.uk/resources_publications/documents/2008Q420Feb09statsrelease.pdf
(Page 4/4) .... unlikely to copy well, hence the (slow) link.If you want to test the depth of the water .........don't use both feet !0
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