Lloyds TSB faster payments -internet banking

jambosans

Crap_with_money.com wrote: »

Lloyds process their payments Mon-Thu at 10pm, and Mid-day - 4pm on a Sunday (For everything over the weekend and a Monday), so if you try to transfer around this time, the FPI will generally not go through as it's too close to the deadline - but should be ok the rest of the time

Faster Payments by definition is a near real time transfer service. Therefore, the cut-off times for batch processing will not apply to FP as they process per transaction. If FPS is unavailable during processing then I would imagine this is a conflict between Lloyds TSB's batch processing system and FPS.

duggie1982

I done a test with lloyds last week. send via internet never left my account till next day (to RBS) When I phoned them they said it would leave at midnight but will not be FP as RBS not accepting, same as A&L when set a payment on the same call. Logged into RBS and sent payments to both A&L and Lloyds and both sent and recieved within minutes.

I think Lloyds are being fly and keeping the money as long as possible but accepting right away.

Dagobert

I once phoned TSB asking them to transfer to personal Barclays, RBS, HSBC accounts. Their system told the advisor that none of these destinations were capable of FP, which is utter nonsense.

naijapower

I think LTSB is somehow inconsistent with these payments as they have told me several things in the past. Lets hope they develop some consistency and clarity

jambosans

naijapower wrote: »

I think LTSB is somehow inconsistent with these payments as they have told me several things in the past. Lets hope they develop some consistency and clarity

I agree. To be honest I think the advisors at PhoneBank aren't really sure what the problem is with Lloyds TSB's FPS. A natural answer would be to blame the receipient account but I think generally - due to the incosistentsy of FPS via PhoneBank and the complete lack there of via Internet Banking - LTSB is suffering from some serious system issues in regards to FPS.

Internet Banking FPS was made available and then withdrawn immidiately, either due to system difficulities, or security issues. Seeing all the other major banks have managed (bar Abbey and Nationwide) to (with varying degrees of success) excute Faster Payments suggests an issue with Lloyds TSB's system rather than security. Security via PhoneBank in my opinion is no more thorough than security via Internet Banking.

Perhaps, I will stand corrected, but surely it doesn't take this long to put sufficient security procedures in place? I don't think they are doing it deliberately but it is disappointing from a bank I have never had a problem with. Abbey, however, knows Faster Payments is a service that would benifit customers, and that, would go against everything Santander stands for, clearly.

alanclarke

On the the Lloyds TSB web site at http://www.lloydstsb.com/ways_to_bank_with_us/faster_payments_faq.asp there is no mention of Internet Banking, only Telephone Banking for Faster Payments.

When I read this web page last year it stated Faster Payments would operate with Internet and Telephone Banking.

Have they abandoned Faster Payment with Internet Banking?

mrmajika

alanclarke wrote: »

Have they abandoned Faster Payment with Internet Banking?

Nope. As stated above, they have withdrawn internet FPS for the time being whilst they sort out their system issues.

Dagobert

Last night I arranged £4000 worth of payments online to leave my Lloyds TSB account to-day (earliest possible day to go out).

All payments were sent to different FP-capable personal accounts of mine varying between £250 and £500. All were sent by FP.

D1zzy

Just set up a payment for £500 - its scheduled for tomorrow. Silly me for thinking that a FP would go same day.

jambosans

D1zzy wrote: »

Just set up a payment for £500 - its scheduled for tomorrow. Silly me for thinking that a FP would go same day.

Contact PhoneBank on 08453000000 or 02077857654 (international number, which is free with inclusive calls/ minutes on a landline or mobile), I've just done a FP straight away.