Bank transfer failed- Fast payment

raja_no_1

I opened an Account with Halifax 2 days back..logged in to the account on the website then I transferred a very small amount from Alliance and Leicester bank which did show up when I logged in to the Halifax website.

24 hrs later I transferred more then a 4000 pounds to the Halifax from the same AL account and went in to the Halifax to check if the amount had been credited.

I was shocked to find out that the initial small payment had vanished. And so was the bigger amount.

AL confirms that the money has been credited. I checked with Halifax and now they say that the account has been rejected.And hence the money is not showing up in the account.

In both the cases of transfer the Instant Fast payment method was used.

Can anyone guide me as to how I can recover the money paid.

charlieboycat

If it had been BACS the money would have reappeared in the sending a/c about a week later. I don't know about faster payments - but would expect it to be the same principle (albeit hopefully a little "faster").

exel1966

raja_no_1 wrote: »

I opened an Account with Halifax 2 days back..logged in to the account on the website then I transferred a very small amount from Alliance and Leicester bank which did show up when I logged in to the Halifax website.

24 hrs later I transferred more then a 4000 pounds to the Halifax from the same AL account and went in to the Halifax to check if the amount had been credited.

I was shocked to find out that the initial small payment had vanished. And so was the bigger amount.

AL confirms that the money has been credited. I checked with Halifax and now they say that the account has been rejected.And hence the money is not showing up in the account.

In both the cases of transfer the Instant Fast payment method was used.

Can anyone guide me as to how I can recover the money paid.

Max permissable FP amount over the internet iwith A&L s £250. Anything higher will follow normal BACS transfer times i.e 3-4 working days.

BiggaThanBen

exel1966 wrote: »

Max permissable FP amount over the internet iwith A&L s £250. Anything higher will follow normal BACS transfer times i.e 3-4 working days.

I don't think so, I used to send higher amounts and many times, and normally to Halifax. As A&L explained they are still testing FP, so some random payments may still be sent with normal BACS .... Another story with Halifax, which have stopped sending outbound FP at all (

Milarky

exel1966 wrote: »

Max permissable FP amount over the internet iwith A&L s £250. Anything higher will follow normal BACS transfer times i.e 3-4 working days.

In which case, the OP has been told a load of old rubbish as in: "Halifax.. now.. say that the account has been rejected. And hence the money is not showing up in the account." A BACs payment (2 days) from A&L on Thursday won't be showing up yet at Halifax (Probably Monday)

exel1966

BiggaThanBen wrote: »

I don't think so, I used to send higher amounts and many times, and normally to Halifax. As A&L explained they are still testing FP, so some random payments may still be sent with normal BACS .... Another story with Halifax, which have stopped sending outbound FP at all (

OH, I think so, I know so, they told me so and there is a thread here on MSE where numerous people have confirmed that this is the case.

Subject: Re: Internet Banking - payments/transfer

Thank you for your e-mail regarding Faster Payment amounts.

We are currently transferring Faster Payments of £1 - £250. When we are using the service fully we will be advising all our customers, as of yet we have no confirmed date.

If you have any further questions or need any more help in the meantime please do contact us again.

Kind regards

Customer Services
Alliance & Leicester plc

naijapower

As far as i am aware, some banks have limits for faster payments. Some are yet to even introduce it. Hence they are bound to be hiccups like this.
It would help to check with your bank before initiating any faster payment

raja_no_1

I called up AL today and they confirmed that its BACS as the amout is more then 250

They also asked me to wait for 8 days before the money finally is returned back to AL.

But I am not sure if the payee account(Halifax) has the status => "account has been rejected" will the money flow back to the sender bank without any problems..

Please can someone comment. Will the money vanish into ether??

cocktail

why was the halifax account set up and then rejected?

withnell

cocktail wrote: »

why was the halifax account set up and then rejected?

Halifax assign a sort code/ account number combo on application, before the final accept/reject decision has been made

cocktail

is money transfer to the account permitted since the OP had managed to transfer the initial small amount