CC has become faster payments????

pre123

got an Alliance and Leicester platinum card which i pay via barclays online banking, usually it takes 3-5 days depending on the day i pay to show on my a&l online banking statement, showing as 'PAYMENT - THANK YOU' but this month out the blue i paid it thursday night time and i checked my a&l online banking the next day and it had credited my account with the payment saying on my statement 'FASTER PAYMENT - THANKYOU' can i presume it will always reach the account next day using faster payment or is this a one off??? just currious as all my cards have took 3-5 days to reach my account and never seen or heard of this faster payment system

mab2000

The faster payments system is gradually being rolled out across all banks. Its most likely that it all your payments from now on will be part of the faster payments system. But its best to check with barclays and alliance and leicester if you want to rely on it if they both work with the faster payments system.
The faster payments system is a relatively new thing where if someone sends someone else/organisation money online (not sure about in branch) it normally reaches the payees account within 2 hours. The bank sending the money and the receiving bank both need to participate in the faster payment system for it to work. With my natwest credit card, when i do a faster payment to the account it normally shows up next day but dated on the day i made the payment, with my tesco credit card, its starting to show up actually on the day i make the payment!

Paul_Herring

It may be sent using faster payments, but there's no obligation for the receiving CC company to place that payment on your CC account on the day it's received.

You should use Direct Debits if you want payment to be received the same day.

Jemma-T

https://www.bankofscotlandhalifax.co.uk/OnlineBankingHelp/fasterpayments.asp

Been using them for over a year. Very handy but they don't always work (I get an email saying the payment was refused).

Degenerate

The Alliance & Leicester card is run by MBNA. This should mean all their accounts are being enabled to receive faster payments.

PARIS_5000

I paid my capital one bill by HSBC faster payments and checked my online account and it showed up two hours later in my online account and was credited to the balance. I going to use the method from now on to pay CC bills because it is so much quicker than waiting 3 days for a payment to be processed through the bank.