Lloyds TSB faster payments -internet banking

Dagobert

Yesterday I arranged two dozen payments between £1 and £500 to go out on the 1st, all of them to FP-capable destinations.

The payments left my TSB account before 1am. At 8:45 they still did not show up in their destination accounts None of them!

They turned up later in the morning. Has anyone else observed delays?

Milarky

Dagobert wrote: »

Yesterday I arranged two dozen payments between £1 and £500 to go out on the 1st, all of them to FP-capable destinations.

The payments left my TSB account before 1am. At 8:45 they still did not show up in their destination accounts None of them!

They turned up later in the morning. Has anyone else observed delays?

I haven't used LTSB for outgoing payments that much. I can confirm though that sub £500 standing order (as well as 'single') payments have gone through on the same date previously. I assume that the 'problem' orginates at Lloyds' end - their 'loading' batched payments into the FPS much later in the morning than 1am - which is simply the time they took the money from your account. Remember that there are certain batch times associated with pre-arranged faster payments through the day - so your payments will take a least a couple of hours even when it works as designed.

Today, as it happens, was the first time that all my regular savers were topped up by standing order alone - and thus I did not have to arrange any payments manually -a nice stress free feeling. The only payees still on BACS seem to be Bath BS and N&P BS.

teffers

Dagobert wrote: »

Yesterday I arranged two dozen payments between £1 and £500 to go out on the 1st, all of them to FP-capable destinations.

The payments left my TSB account before 1am. At 8:45 they still did not show up in their destination accounts None of them!

They turned up later in the morning. Has anyone else observed delays?

I and at least one other person have :

http://forums.moneysavingexpert.com/showthread.html?t=1984069&page=0&pp=0

premierfella

I make payments from my Lloyds Vantage accounts most days of £500 to Faster Payments enabled sort codes.

They normally go by Faster Payments next day, but none of the payments set up yesterday have arrived today, indicating that they have unusually all defaulted to BACS.

Dagobert

premierfella wrote: »

I make payments from my Lloyds Vantage accounts most days of £500 to Faster Payments enabled sort codes.

They normally go by Faster Payments next day, but none of the payments set up yesterday have arrived today, indicating that they have unusually all defaulted to BACS.

All my 25 payments, mentioned in post #52 arrived late morning.

This was certainly later than usual but so far all <£500 payments have gone via FP.

Check again later. I would appreciate it if you could post tonight whether your payments went by BACS or FP as I need to send funds from TSB, which need to be received by a certain date next week.

vet8

I transfer money from my Lloyds business account into either a NatWest or First Direct private account and it always takes at least 4 days, although it used to go immediately for a short period last year.

I got this leafet in my bank statement from Lloyds yesterday which talks about this new legislation the "Payment Services Regulations" which are supposed to speed up electronic payments.

It says that "the payees bank receives the payment within 3 business days following the day of your instruction" Eh!! It takes that long anyway. So much for new smart legislation. What a waste of time and money

johnmoney05

Yes. I set up two payments £750 and £1000 from my two different LTSB accounts to my First Direct accounts on 30 Sep, they didn't arrive yet. So must be via Bacs. Last month already did once of £1000 to my A&L account via Bacs. It is very annoying if practising like that. How the hell I will know whether the payment will go through Bacs or faster payment! Sometime it does, and other times not!

premierfella

Dagobert,

Indeed, these are now showing as arrived Faster Payments in my non-Lloyds accounts. Puzzling why they are now arriving in the afternoon?!

And I agree with vet8. My reading of the t&c changes that have been flooding my letter box over the last few weeks suggests the new directive is full of lovely get-outs and generous terms - in favour of the banks

Dagobert

johnmoney05 wrote: »

How the hell I will know whether the payment will go through Bacs or faster payment! Sometime it does, and other times not!

As has been stated on this thread, payments up to £500 go via FP, based on peoples' experience.

I have probably made a couple of hundred payments in the last 3 months and I can confirm that every payment <=£500 has gone via FP. A payment of £590 went by BACS.

Dagobert

premierfella wrote: »

... t&c changes that have been flooding my letter box ...

Once the number of accounts you have is a three-figure sum, you can talk about the letter-box being flooded.