Faster Payments question?

poppie123

Hi,

I sent a faster payment from my halifax account on Friday for £290 to my Dad's Alliance and Leicester account. It is the very 1st time i have transfered money from my account into his.

On my account it shows it being sent as a faster payment but he has still not received it. We have checked that i have the right account number and sort code and we do.

Any ideas??

anna42hmr

poppie123 wrote: »

Hi,

I sent a faster payment from my halifax account on Friday for £290 to my Dad's Alliance and Leicester account. It is the very 1st time i have transfered money from my account into his.

On my account it shows it being sent as a faster payment but he has still not received it. We have checked that i have the right account number and sort code and we do.

Any ideas??

have you checked to see if your dads bank is set up to accept and send faster payments and if any limit on them? i know when i used to have an account with a&l they only could send/accept FP's of up to £200 at that time (going back a while though)

put your dads sort code in this may give you an idea http://www.ukpayments.org.uk/sort_code_checker/

poppie123

I think i may have found the answer thanks for that.

It says that Alliance and Leciester have a limit of £250 i presume that is not only for sending but also for receiving?

Mine was for £290 so if £250 is the limit for receiving also (doesn't clarify) then that would be why

anna42hmr

poppie123 wrote: »

I think i may have found the answer thanks for that.

It says that Alliance and Leciester have a limit of £250 i presume that is not only for sending but also for receiving?

Mine was for £290 so if £250 is the limit for receiving also (doesn't clarify) then that would be why

no problem glad to help, thats probably why.

noh

No.
The A+L FP limit of £250 is for sending only.
There is no receive limit.

anamenottaken

In the morning of Friday 21 May I sent an FP from RBS to A&L for over £350. It appears on the statement now with the same date. I recall that my available balance increased in line with FP but it did not show as an amount on the statement until later.

I'm not sure but I think you may find that it will appear, with the 28 May date, on the next bank working day.

Have you checked the available balance figure, not just the statement balance?

Hurri

I can confirm the above happened with me, even for a smaller amount (less than £200). Was sent by FP to A&L, showed almost immediately in the 'available balance', but didn't appear on the statement till the next working day.

poppie123

To be honest i am not quite sure how he checked it. He doesn't have the internet (old and can't use it) so it would have either been by phone or via a statement (cashpoint) probably the latter out of the 2 to be honest.

I will give it a couple of days and go from there.

System

The first payment to each payee only goes via BACS, which takes 4 working days from A&L.

The next time you pay him under the limit, it will go via Faster Payments.

poppie123 wrote: »

Hi,

I sent a faster payment from my halifax account on Friday for £290 to my Dad's Alliance and Leicester account. It is the very 1st time i have transfered money from my account into his.

On my account it shows it being sent as a faster payment but he has still not received it. We have checked that i have the right account number and sort code and we do.

Any ideas??

rb10

Heng_Leng wrote: »

The first payment to each payee only goes via BACS, which takes 4 working days from A&L.

The next time you pay him under the limit, it will go via Faster Payments.

No - this applies to payments from A&L to other banks. The OP sent the money from Halifax, going to A&L.

If it shows on your Halifax statement as a Faster Payment, then it will have gone as a Faster Payment. As others have suggested, it is probably just that A&L don't update their systems in real-time.

zppp

Heng_Leng wrote: »

The first payment to each payee only goes via BACS, which takes 4 working days from A&L.

The next time you pay him under the limit, it will go via Faster Payments.

The limits for each bank can be found at the following link;

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

On the same page, there is a list below the table of organisations that recieve faster payments.