Faster Transfer Banking - Now Live !

micky007

Hey Guys,

Yay finally faster wire transfers is here. I managed to transfer £500 from one account (Halifax) and another account (YorkshireBank - Who Are utter Rubbish) and the funds showed up in just 10mins !

(did this via Halifax Internet Banking)

eslick

its been live for ages, possibly just halifax not been doing it so long, with First Direct you can transfer right up to the 10K limit with other the limits are much lower

EarthBoy

Old news is no news.

Some banks have been doing Faster Payments (as they are officially called) for the last 12 months. I've doing transfers from First Direct to Halifax for months and the payments are usually credited within seconds. Ten minutes is rather slow.

radox

Iv made a transfer from my lloyds tsb internet banking to hsbc after iv made the transfer it said due date : 18/06/09

What's the procedure with lloyds? will the money be in the account tomorrow or will it take few days.

jambosans

radox wrote: »

Iv made a transfer from my lloyds tsb internet banking to hsbc after iv made the transfer it said due date : 18/06/09

What's the procedure with lloyds? will the money be in the account tomorrow or will it take few days.

Lloyds TSB still doesn't have Faster Payments via Online, you have to use PhoneBank and even that's a bit touch and go. From what you've described (a future payment date) it sounds like it is going to go via good ole' BACS, which takes three to four working days.

D1zzy

It does appear that amounts under £500 pounds now go FP - but as you can only put in a payment to go "Tomorrow" - it would still go the following day.
So lloyds version of FP - "it will go quick -tomorrow" - so check yr receiving account today.

jambosans

D1zzy wrote: »

It does appear that amounts under £500 pounds now go FP - but as you can only put in a payment to go "Tomorrow" - it would still go the following day.
So lloyds version of FP - "it will go quick -tomorrow" - so check yr receiving account today.

Really? I've not sent FP (only received into my LTSB from BoS), so wasn't sure, but hadn't read anywhere on MSE that it was now available. Normally when a payment post dates it means the transfer will go via BACS.

According to Lloyds TSB's Website FPS is still only available via PhoneBank. However, interestingly enough, this page suggests otherwise. Guess for a definite answer we're going to have to see if radox will see the money in the HSBC account today. For the time being however I'm going to stick with FPS still not being available via Internet Banking - if it had been, I would have thought a lot more posts from LTSB customers.

D1zzy

I know I send £600 regularly and that goes BACS - but there are various threads around indicating that smaller amounts go FP - albeit the next day.

10_66 wrote: »

I transferred less than £500 out of Lloyds TSB, and it seems to be half Faster Payments and half BACS. Transaction done on a Monday morning, and appeared in receiving bank the next day. This has happened both times I've done it.

LLoyds seem reluctant to give out any definite information (in case of fraud!!) - try finding out how much you can send FP by phone banking - the general answers is "suck it and see but not much"