Halifax WebSaver & Faster Payments

welshlad

Hi, I am wanting to send some money from my web saver account. When I fill out all the details of the recipient it states that the earliest date is tomorrow and that the monwy will be sent via bacs. However I remember last time I did this, it said exactly the same but actually sent the money through Faster Payments at around midnight.

Can anyone advise if this is still the case, and also if so are there any known sending limits for transfer via fast payment?

Many Thanks

AJ

opinions4u

Savings accounts with Halifax don't do faster payments.

Transfer the money in to a current account and move it from there.

welshlad

Thanks for the reply. I don't have a current account with the Halifax so thats not an option. Anyway the money is due to leave my saving account tomorrow so will update as to the method it uses!

Cheers

welshlad

Looks like you were right!! BACS it is!

However it was for over £1000 and I've heard that's their limit for Faster Payments, so have 2 smaller amounts being sent tomorrow to see if that makes any difference.

welshlad

They used to last time I used it. I have to transfer the money either way so will see what happens...

noh

HBOS faster payments limit is £2500 now
http://www.chapsco.co.uk/faster_payments/-/page/762/

As stated above websaver accounts do not and never have, to my knowledge, support FP out.

welshlad

I made 2 transfers from Halifax Web Saver yesterday, one for £100 and another for £900. For both the online system said they would be sent on the next available day (today) via BACS. However as I thought they used to, both amounts appeared shortly after midnight in the receiving bank (lloydstsb) via Faster Payments.

So it seems there is a £1000 threshold for FP out from the Websaver, even though it says it will be transferred as BACS...

opinions4u

If it's turning up the next day, it's hard to agree that it's a Faster Payment.

Perhaps they have found a way to route payments from Halifax to LloydsTSB (both part of the same group) overnight rather than via BACS.

They managed it with Halifax to BOS transfers.

Anyone else able to confirm this theory?

welshlad

Its only turning up the next day because its not actually leaving my Halifax account until midnight, the same as it would if it was a BACS transfer. It's definitely Faster Payment, the code on my Lloyds statement is FPI which means Faster Payment In

opinions4u

So you sent it from an account that doesn't do FP.

It didn't arrive at its destination within 2 hours.

It didn't say it was going to be sent by FP.

But you still reckon it's an FP.

I suppose it is possible that it's been treated as a standing order which would usually be paid by Faster Payments overnight.

welshlad

Where did I say it didn't arrive within 2 hours? It was sent from Halifax at midnight and arrived at Lloyds at about 12.01am. The account clearly does do Faster Payments. I don't reckon it was sent via Faster Payments, I know it was.

No need to get in such a huff, we all get it wrong sometimes. The point of this thread was just to let people know what will happen to their money sent out from a Web Saver account...