Natwest BAC due today (Sunday), will it be in tomorrow?

preciousillusions

Hey,

Just a small query really, but wondering if anyone had an answer for me as am a tad worried:

Basically every month my Dad transfers me £55 from his account which is credited to mine on the 1st (BAC payment). So it was due today but has not appeared. Is this simply because it is a sunday and so should i expect it tomorrow? Only worry is i have something due out tomorrow so need the funds there.

I only wonder about this because when i used to be with HSBC the payment would go through even if the 1st was a Sunday, so i was confused when it didn't with Natwest.

Thanks in advance for any replies xxx

stclair

preciousillusions wrote: »

Hey,

Just a small query really, but wondering if anyone had an answer for me as am a tad worried:

Basically every month my Dad transfers me £55 from his account which is credited to mine on the 1st (BAC payment). So it was due today but has not appeared. Is this simply because it is a sunday and so should i expect it tomorrow? Only worry is i have something due out tomorrow so need the funds there.

I only wonder about this because when i used to be with HSBC the payment would go through even if the 1st was a Sunday, so i was confused when it didn't with Natwest.

Thanks in advance for any replies xxx

Any payment due to debit or credit a natwest account on a monday will either credit or debit the account on a saturday. If the money did not go into the account on saturday it wont credit the account until tuesday depending on the date the payment was sent Via BACS.

benbranson

stclair wrote: »

Any payment due to debit or credit a natwest account on a monday will either credit or debit the account on a saturday. If the money did not go into the account on saturday it wont credit the account until tuesday depending on the date the payment was sent Via BACS.

Unless it is actually sent via faster payment, not BACS? In which case it may credit OP's account tomorrow. Sounds like it's a standing order and therefore will probably be delayed until next working day (tomorrow)

stclair

benbranson wrote: »

Unless it is actually sent via faster payment, not BACS? In which case it may credit OP's account tomorrow. Sounds like it's a standing order and therefore will probably be delayed until next working day (tomorrow)

I suspect its a Faster payment however if it is BACS it wont show until tuesday..

preciousillusions

It comes up on my statement as BAC...what does that mean? As i said it is usually there on the 1st, no delay. Confused.

Paul_Herring

preciousillusions wrote: »

Only worry is i have something due out tomorrow so need the funds there.

Strictly speaking, and for most banks, the money for that transaction should have been in the account Friday (the 'working day before.')

Mikeyorks

But you've changed Banks? Presumably you were also with HSBC when it was on the 1st regardless? So it was d/w as an internal transfer. Now you're with a different Bank it has to negotiate the fact that only Faster Payments works at weekends - BACS (Bankers Automated Clearing System) has every weekend off! And it will take 3 / 4 days that way as opposed to relatively instant for an internal transfer or FP

preciousillusions

^yes but that was two months ago. Last month it went in fine on the first into my Natwest!! Plus i have no clue what bank my dad is with.

preciousillusions

So basically i am screwed?

simax

If it normally comes up as a BACS transfer, then no, it ain't gonna appear in the morning. Sorry.

rb10

simax wrote: »

If it normally comes up as a BACS transfer, then no, it ain't gonna appear in the morning. Sorry.

Natwest show FP credits as having gone through BACS, their system doesn't differentiate between the two.

As when the OP was with HSBC, the transfers went through on a Sunday, it is likely that their father's bank is HSBC too, as they'll have gone through as an internal standing order.

HSBC's implementation of Faster Payments is good, so I imagine that they send standing orders by Faster Payment, in which case I would expect it to arrive first thing tomorrow morning.