Halifax say today is 1st of june

farang12

I logged into my Halifax accounts and they have transfered £500 into my 10% regular saver and have listed that the transfer happened on 1st of June,however today is the 31st May or have I lost the plot?
It is their mistake however technicaly I have had £1000 transfered in May.

hotkee

Its the same with barclays - the weekend is causing these banks an issue - or they are pretending it is. I see no reason why their systems cant work on weekends at month ends.

Am thinking about complaining to both of them - its not necessary - inadequate systems.
What would happen if you suddenly wanted that money that was in your paying account?

opinions4u

Don't lose any sleep over it.

It always does that when month end is a weekend.

All will look right when you log on tomorrow.

They basically process a day ahead (without impacting on the customer or applying charges etc) to free up processing capacity for the first working day of the month which is always busier.

hotkee

It doesn't impact the customer? But what if someone goes to the cashpoint now and withdraws money thinking there is money there when there isnt?

The online systems should not show those transactions till the correct day.

Lansdowne

By dating the transaction 1st June they are telling you it will processed on that date. Why not to go the Atm and request a balance? That will tell you whether or not your account has been debited early.

opinions4u

hotkee wrote: »

It doesn't impact the customer? But what if someone goes to the cashpoint now and withdraws money thinking there is money there when there isnt?

Good question - never tested it but I suspect it won't allow a withdrawal against the funds.

The online systems should not show those transactions till the correct day.

I don't particularly think it matters. It sure as hell beats being a few days behind.

In absolute fairness, it clearly states the correct date. 1st June.

In a world where you read threads on MSE about banks being slow to do things, there is a slight irony in them getting it in the neck for being ahead of the game.

What would happen if you suddenly wanted that money that was in your paying account?

Your terms and conditions require you to fund the account the day before a payment (e.g. standing order) is due. So you have already committed those funds. Ensures you don't get charged for withdrawing early too!

hotkee

I don't need to go to the ATM - the current accounts I am using are showing online as having been debited.

The dates are in the future. My point is simply that the bank systems should be designed to cope with weekends - its not too much to ask.

apt

Mine also shows the regular payment debited, but if Halifax want to pay me 10% on the £500 rather than 1% in the 'High' interest account that's fine by me.

oldfella

as far as Barclays are concerned weekends dont exist, any transactions after Friday are dated the Monday, and standing orders and deposits are visible over the weekend.

so if you are paid on the Monday, you can FP it out on the previous Saturday. Presumably if the bank you are sending it to credits it on Saturday, you can then get interest over the weekend for cash not actually paid to you until the Monday.

withnell

There's no way you could pay the money in to cover those debits now. They have not transferred over yet, as they are dated the 1st, but they need to be taken out of available balance because it's no longer available!

TREVORCOLMAN

oldfella wrote: »

as far as Barclays are concerned weekends dont exist, any transactions after Friday are dated the Monday, and standing orders and deposits are visible over the weekend.

so if you are paid on the Monday, you can FP it out on the previous Saturday.

Yeah weekends dont exist - unless they are charging daily interest!

:T