Halifax WebSaver & Faster Payments

Azrael_1701

noh wrote: »

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.

Not for long....

Doondie

opinions4u wrote: »

Halifax Web Saver accounts do support inward faster payments. I can only assume there was a system problem (either at HSBC, Halifax or with the whole FP network) that caused your payment to go via BACS.

While they are not supposed to support immediate Faster Payments (yet) they will later this year. That said, I'm surprised that they would test this prior to moving on to the Lloyds TSB platform.
[...].

You're quite right - the payment has reversed, because the account details, according to HSBC, are unknown, although they are correct. Probably because the Web Saver is just 3 days old. The guy said things like that happen with their new accounts sometimes as well.
I spoke firstly to Halifax and they said the Web Saver indeed accepts FP's in and out.
Just made the transfer to the current account and via an internal transfer to the savings account.

Cheers!

[Deleted User]

Azrael_1701 wrote: »

Not for long....

hmm whys that then?

Azrael_1701

vinh1000 wrote: »

hmm whys that then?

After they LBG integration the faster payments limit is dropping to £500 for all outbound payments.

rb10

Azrael_1701 wrote: »

After they LBG integration the faster payments limit is dropping to £500 for all outbound payments.

...any ideas when it will return to a reasonable level??

opinions4u

rb10 wrote: »

...any ideas when it will return to a reasonable level??

It's the first I've heard of a £500 cap.

By 1st Jan 2012 all UK payments up to £10k or £15k (I think it's the latter, can't remember, it might even be higher) will go by Faster Payments, unless the customer prefers to pay for a CHAPS.

Azrael_1701 wrote: »

After they LBG integration the faster payments limit is dropping to £500 for all outbound payments.

Can you put a bit more meat on the bones for this? Is that for all accounts (as you suggest) or just for savings accounts?

Is it a short term thing?

What about the legal requirements of the Payment Services Directive and 2012?

How will it affect standing orders?

How will it affect the payments described in this thread?

noh

Lloyds faster payments limit is now £25k for retail customers.

http://www.ukpayments.org.uk/faster_payments_service/value_limits/

Is the Halifax limit likely to be less after integration?

Milarky

opinions4u wrote: »

What about the legal requirements of the Payment Services Directive and 2012?

How will it affect standing orders?

How will it affect the payments described in this thread?

As far as I know, HBOS now uses faster payments to leave your account the next working day (where they arrive instantly) rather than BACS. This (so-called 'D+1' system) is all any bank/organisation will have to do to comply after 1st Jan. In other words, 'immediate faster payments' are [still] not a 'right'.

opinions4u

Milarky wrote: »

As far as I know, HBOS now uses faster payments to leave your account the next working day (where they arrive instantly) rather than BACS. This (so-called 'D+1' system) is all any bank/organisation will have to do to comply after 1st Jan. In other words, 'immediate faster payments' are [still] not a 'right'.

Spot on.

Although I'd expect most payments to go same day.

Azrael_1701

opinions4u wrote: »

It's the first I've heard of a £500 cap.

By 1st Jan 2012 all UK payments up to £10k or £15k (I think it's the latter, can't remember, it might even be higher) will go by Faster Payments, unless the customer prefers to pay for a CHAPS.

Can you put a bit more meat on the bones for this? Is that for all accounts (as you suggest) or just for savings accounts?

Is it a short term thing?

What about the legal requirements of the Payment Services Directive and 2012?

How will it affect standing orders?

How will it affect the payments described in this thread?

Its for all accounts.

Dont know whether its short or long term, it just says "post integration, ALL outbound faster payments from HBOS branded accounts will be subject to a £500 limit, otherwise the payment will debit via BACS, subject to a £10000 limit. Transfers between accounts held within the LBG will be immediate regardless of branding."

Dont know about the PSD, the same limit applies for SO as far as I am aware.