Santander!!!!!!!!!!!!!!!!!!! Useless sods

withnell

It's up to 4 days. They say that to cover themselves when people make a payment at 6pm Monday and expect it still to be there on Thurs

In my experience, the money has always arrived in the other account within 2 days of being sent, and although its not faster payments, to their credit Santander don't make out that they send by FP anywhere on their site or literature. You have to pick what services you want, personally I find the 6% interest more than offsets having to plan ahead for a large transfer by 2 days!

jayjayef

On Saturday I transferred a large sum of money from my Santander (ex A&L) account to a HSBC account. It appears that they STILL DON'T HAVE a fast payment system although they have informed me that they can do it same day AT A COST of £25. So clearly, they DO have a system for FP but want to rip-off their customers just because they are moving to a BETTER bank and banking system. I've now transferred all of the money out of the Santander account and will close it when this has completed. I would urge anyone else who has had problems to do the same.

wildheart83

Santander DO send payments by FP, although there's a limit on how much you can send this way. The first time you do a transfer to a particular account it will go as BACS, then after that it will go as FP.
The service they charge for is CHAPS, completely different to FP.
It makes me laugh how people don't check these things BEFORE sending a payment!

ChiefGrasscutter

jayjayef wrote: »

On Saturday I transferred a large sum of money from my Santander (ex A&L) account to a HSBC account. It appears that they STILL DON'T HAVE a fast payment system although they have informed me that they can do it same day AT A COST of £25. So clearly, they DO have a system for FP but want to rip-off their customers just because they are moving to a BETTER bank and banking system. I've now transferred all of the money out of the Santander account and will close it when this has completed. I would urge anyone else who has had problems to do the same.

The £25 charge would be for doing it by CHAPS.
This is a manual system normally used for high value transactions which are above the individual bank's FP system limit AND with need to go/receive that day and not go via BACS with the 3 day turnaround.
It costs £25 because it has to be manually inputted by staff into the CHAPS system and cross checked for correctness - however CHAPS is guaranteed that same day receipt. It is not part of the FP - it is a totally different system.

Now I grant you that Santander does have a very low FP payment limit.......

Ilya_Ilyich

Yeah Santander allow up to £300 for one-off payments and up to £10k for standing orders to transfer as FPs. Not sure if you can just split large transfers into lots of £300 ones to make them all go as FP, I'll need to try that. The last couple of times I've done normal transfers they've arrived within 2 days though (and used to take the full 4 days) so maybe they have sped those up a little, purely anecdotal though of course.

MoneySaverLog

wildheart83 wrote: »

Santander DO send payments by FP, although there's a limit on how much you can send this way.

Like £300 limit on FP.

You've been Santandered, time for a proper bank?

Try Lloyds they have a £25K FP limit, and that's been going for over a year.

Sceptic001

Ilya_Ilyich wrote: »

Yeah Santander allow up to £300 for one-off payments and up to £10k for standing orders to transfer as FPs. Not sure if you can just split large transfers into lots of £300 ones to make them all go as FP, I'll need to try that.

No, it's one FP transaction to the same payee in any 24 hour period. So if you do a FP at 3pm Monday, don't try again until after 3pm Tuesday.

wildheart83

MoneySaverLog wrote: »

Like £300 limit on FP.

You've been Santandered, time for a proper bank?

Try Lloyds they have a £25K FP limit, and that's been going for over a year.

Thanks for the advice, but the chances of me wanting to or needing to transfer large amounts of money by internet banking are pretty slim!

MoneySaverLog

Perhaps not now, but you never know and it's nice to know the facility is there.