Faster Payments - Is it working?

savetilibleed

I was surprised! I wanted to move £5000 to another account at another bank so a cheque could be safely written and presented. Just thought I'd ask if I could transfer that much by FP (I couldn't) so I decided to do it by BACS online. Before I did I phoned LTSB Phonebank again because I decided to do £500 yesterday, £500 today. The operator was actually able to do 10 FP's of £500! Job done :j

D1zzy

savetilibleed wrote: »

I was surprised! I wanted to move £5000 to another account at another bank so a cheque could be safely written and presented. Just thought I'd ask if I could transfer that much by FP (I couldn't) so I decided to do it by BACS online. Before I did I phoned LTSB Phonebank again because I decided to do £500 yesterday, £500 today. The operator was actually able to do 10 FP's of £500! Job done :j

..............Well done, but can they make it any more difficult for us poor customers to understand what's going on.-

I think a sticky with LTSB rules for FP would be in order :rolleyes:

savetilibleed

D1zzy wrote: »

..............Well done, but can they make it any more difficult for us poor customers to understand what's going on.-

Yeh the first person I spoke to gave me the impression I already had from previous dealings with trying to make FP - i.e. that it was haphazard, that sometimes it works and sometimes not, depending on the time of day. Makes a bit of a nonsense really if it is possible to fool the system making one after another FP's like that. They said it would go through in 2 hours but they were still able to be certain that the receiving bank would accept it. Nevertheless I got the recipient to check this morning and it did work OK (just asked for a balance).

Interestingly, I phoned to pay a bill (PC went wrong) on 4 July (a saturday in the evening). They told me it went by FP and my statement now shows an FPO at 19.54 on 4 July. But in the date column it shows 6 July (because of the weekend I suppose).