Bank of Scotland / Halifax - Faster Payments

thumshie

rb10 wrote: »

FP not working here from Halifax either, only the second time since they started FP that they've refused me!

Your lucky.. I couldn't get a FP - any amount - out of my account at all last month- and I was trying almost daily. Strange as an EasyCash account of mine allowed transfers to the same external account minutes before and after trying my 'normal' current account yesterday....Think they've blocked FP on one account for some reason :mad:

Speculator

Just an update to my earlier post. The missing £500 faster payment from my Tesco a/c has just appeared in my wifes Halifax regular saver account after a 10 hour delay.

JoeCrystal

I am confused.

My Standing order to Barclays Monthly Saving have not arrived yet (it always been quick) and my Faster Payment to Barclays Current Account few hours ago have not generated Faster Payment Confirmation email, straight away. Or does it happened IF the money go out or just when you finished the Transfer payment?

And no, I can't just ring them up either.

MWW

I had no idea there was a limit on the amount they would transfer under the Faster Payment arrangement, I also had no idea that payments to credit cards are also excluded!

I made a payment via the internet on the 30th, to my credit card for £1032 and it is still somewhere earning interest for someone other than me. Because it did not go as a FP, due to the amount, it will apparently take up to 7 days. :eek:Meanwhile I have been hit with a late payment charge by my credit card provider, they did say they cannot even see the money on it's way to my account.:mad:

withnell

Halifax is pretty clear on the payment screen if a specific payment will go FP or BACS - I don't know anyone else who states that the payment WILL go FP before you hit confirm

Tommo781

I am a Private Banking customer with BofS. What difference does that make - NONE! I will tell you about my Faster Payment experience in the last month. This post is not designed to be about money, but to show the unreliability of the system.

On 20 April, I had several thousand pounds I wanted to transfer to an account elsewhere which actually pays me some interest.

I was able to do 2 Faster Payments a day of £1,000 each, and so from 20/4, for several days, I made 2 payments, which reached the other account immediately.

On 1st May, a cleared payment from a matured investment was paid into my BofS account. I wanted the funds to go to the same account as the previous transfers. If I had done this as a bill payment, it would not have left my account until today, 5th May, and so would not have been in the other account until Thursday 7th.

At the rate of £2,000 per day that I did before, I decided to go through the arduous system of sending a pathetic £1,000 at a time. At least this meant the final transfers would have been made on 6th May, and so the whole sum would have gradually been earning interest from 1st May, and fully earning interest on 6th May, instead of nothing until 7th May by snail payment.

This is what has happened.

1st May - Faster Payment system unavailable all day
2nd May - £2,000 transferred
3rd May - £2,000 transferred
4th May - £1,000 transferred, then the system refused to let me do another Faster Payment.
5th May (today) - I have tried 3 times, but the system refuses to let me do a Faster Payment, and will only send a bill payment tomorrow (why not today????????). I did not complete these transactions.

So, whereas I should by now have transferred £10,000, only £5,000 has gone, and I have no idea when I will be able to transfer the rest, unless I use a bill payment which is not what I want.

I have contacted my manager, but he can't tell me what is wrong.

This system is clearly deeply flawed. BofS are holding on to customer funds, without paying interest, and the customer is powerless to do anything about it. With every day that the system does not work, we are losing interest. Agreed, with interest rates as they are, this is not a huge sum of money, but there is still an underlying principle, and lack of service.

masonic

Tommo781 wrote: »

5th May (today) - I have tried 3 times, but the system refuses to let me do a Faster Payment, and will only send a bill payment tomorrow (why not today????????). I did not complete these transactions.

Did you try transferring in smaller batches than £1000? I've found on a few occasions I'm unable to do a £1000 FP transfer, but splitting it into two £500 transfers has worked for me (it's also useful having 3 accounts as when one fails to do a FP, I generally find I can send the money from another with no problems)..

Tommo781

masonic wrote: »

Did you try transferring in smaller batches than £1000? I've found on a few occasions I'm unable to do a £1000 FP transfer, but splitting it into two £500 transfers has worked for me (it's also useful having 3 accounts as when one fails to do a FP, I generally find I can send the money from another with no problems)..

Yes I did. Still no joy. My manager can't understand why this won't work (neither can the system people) so is doing a chaps payment for the full amount free of charge.

sloughflint

Tommo781 wrote: »

5th May (today) - I have tried 3 times, but the system refuses to let me do a Faster Payment, and will only send a bill payment tomorrow (why not today????????). I did not complete these transactions.

Having previously completed a FP, when offered the option,I allowed the account details to be stored.
The next time I tried to do a transaction, I was only offered a next day transaction. I cancelled the pending transaction and tried to set up a payment again ( ie not using the stored info) and it went by FP.
No idea why but at least it worked.
Maybe try that next time?

G_M

It IS frustrating. I just tried tranferring 1K and was refused FP. Tried about 20 times, all differing amounts, and still refused.

Spoke to a manager at Halifax who blamed the recipient bank (I don't think so!!).

Then did an internal transfer to my 2nd c/a and from there FP was accepted. What is that all about?