Bank of Scotland / Halifax - Faster Payments

superstar_2

First time FP user here with HBOS. Stupid question really, but how do you make a FP payment thorugh the online banking page?

opinions4u

superstar wrote: »

First time FP user here with HBOS. Stupid question really, but how do you make a FP payment thorugh the online banking page?

On the 'home' screen is a list of your accounts and balances. For the appropriate account (must be a current account) select the drop down menu to the right and select "transfers, bills, standing orders, dds" and under "transfers and bill payments" create a new one and follow it through from there.

Simples!

Less than £1,000 will usually go through as FP, but not always!

Dagobert

superstar wrote: »

how do you make a FP payment thorugh the online banking page?

As explained before you use the same process as for BACS payments. Once you have chosen destination and date the system will tell you whether the payment will be sent as FP. It uses the phrase "will reach the recipient within two hours". There is a whole lot of text. You have to look at it carefully before you press the send button. On occasions where the system decides to send the payment via BACS it says something like "On this occasion we cannot send this payment immediately." It is worth it logging out and trying again later or try sending a smaller amount.

The current threshold for FP seems to be £1000 but that does not mean smaller payments will go through, so read the text everytime!

BruceyBonus

Very weird method of doing things at BoS. I have a savings account with them. Everytime I transfer money out, I'm told the usual can't send it today, must go in x days time by bill payments. So I continue anyway. The money leaves the account on x day but shows as a standing order on my account for 24 hours then reverts to bill payment. It is then in the receiving account (HSBC) immediately, so it must have been sent by FP?!

Dagobert

BruceyBonus wrote: »

The money leaves the account on x day but shows as a standing order on my account for 24 hours then reverts to bill payment. It is then in the receiving account (HSBC) immediately, so it must have been sent by FP?!

This has nothing to do with FP. This has always been the case with BACS payments ("bill payments"). The money is passed to the BACS system on day x (the day you chose for the payment to go out). It arrives 2 working days later.

BruceyBonus

Dagobert wrote: »

This has nothing to do with FP. This has always been the case with BACS payments ("bill payments"). The money is passed to the BACS system on day x (the day you chose for the payment to go out). It arrives 2 working days later.

Perhaps my post wasn't clear. The day the money leaves my BoS account, it shows in my HSBC account. It shows as a SO on my statement at BoS for 24 hours then changes back to bill payment.

Dagobert

BruceyBonus wrote: »

Perhaps my post wasn't clear. The day the money leaves my BoS account, it shows in my HSBC account.

This is interesting. On the day you attempt to send the payment, the system refuses to send it via FP. That, of course, forces you to schedule the payment for the next working day as BACS payments cannot be sent out on the same day from HBOS (nothing to do with BACS per se).

Then, on the day the payment is scheduled to go out, their system decides that it can go via FP after all.

BruceyBonus wrote: »

It shows as a SO on my statement at BoS for 24 hours then changes back to bill payment.

This has always been the case for BACS payments. It's just a question of display, not content. Bear in mind, the online system is not real-time; it's just a shadow system.

BruceyBonus

Dagobert wrote: »

This is interesting. On the day you attempt to send the payment, the system refuses to send it via FP. That, of course, forces you to schedule the payment for the next working day as BACS payments cannot be sent out on the same day from HBOS (nothing to do with BACS per se).

Then, on the day the payment is scheduled to go out, their system decides that it can go via FP after all.

Exactly - has happened on five occassions now.

Dagobert

On such occasions I try smaller amount and/or logging out and back in again.

For instance, when £250 failed to be accepted for FP, I reduced the amount to £100, which still failed, then £50, which went as FP.

Mikeyorks

BruceyBonus wrote: »

Exactly - has happened on five occassions now.

And is that ....

BruceyBonus wrote:

I have a savings account with them. Everytime I transfer money out, I'm told the usual can't send it today

........... direct from the Savings account?

Reason for querying it (from Halifax site) in italics :

Which accounts will I be able to send Immediate Faster Payments from?
All current accounts will be automatically enabled to send Immediate Faster Payments using the Faster Payment Service. However this service is not available for sending payments from savings accounts.