Do Santander follow a consistent logic for when they do/don't use FP?

intalex

I've read posts around when outward transfers from Santander accounts go as FP, and when they go as BACS, but can't seem to find any common themes.

This makes it quite dangerous to ever rely on being able to do a FP, as it appears impossible to predict when it will work and when it won't.

I thought it might be useful to create a thread and share our thoughts and experiences, to see if there are any common themes which may help us define a consistent logic that Santander may be applying.

Once we've gathered a fair amount of experiences, I'll be more than happy to test the logic and experiment with other scenarios using my other bank accounts, and report back my findings.

Hurri

My personal understanding is (and also from my own experience):

Santander doesn't send via FP to external bank accounts for transfers (unless you arrange by telephone) - these go via BACS.

Santander can receive FP from external bank accounts.


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

According to that link, Santander SO's go via FP. I've never tried this.

intalex

I've just attempted a few sub-£250 transfers from my Santander account - 2 to my HSBC account, and 1 to my Barclays account. None of them went through immediately, but I'll monitor over the day.

Also, just spoke to Santander over the phone, and they weren't 100% sure of the logic it follows. They did give me some general indicators around FP being set up with only a couple of banks, credit cards, store cards, etc but not yet set up for transferring to personal accounts with other banks.

Also, the UK Payments link indicates that Santander use FP for Standing Orders up to the amount of £1000, but my sub-£1000 rent a few days ago went across using BACS despite my landlord's account being capable of accepting FP (worked fine when I used to pay it from my HSBC account). Hence, I may email UK Payments to get this checked out and corrected.

Silaqui

I have just come on here to ask a similar question! I had an A&L account which seems to have just switched over to Santander 'properly'.

This is the account that my salary is paid into, but I also have a HSBC account which is my 'spends' account, and I usually transfer money over at the start of the month which previously, was available instantly. (As in, I could log out of A&L and log into HSBC and the money would be showing).

However, I transfered an extra £80 yesterday, logged into HSBC and found that it hasn't shown up! I can only surmise that this is due to the switch to Santander, and it's gone by BACS instead.

The Santander account did accept a FP from another Santander account earlier in the week though, I guess they must just not be sending them.

It's actually pretty annoying because I like the fact that I can switch my cash around without having to worry about keeping track of it, and waiting for it to show in the other account.

dzug1

I understand that part of the logic is that the FIRST payment to any one external account goes via BACS, and that subsequent ones go FP. But ICBW.

In the case of an account transferred from A/L the first payment is the first one after the switch - the older ones made by A&L don't count

Silaqui

dzug1, so the next time I make a payment to HSBC it should go FP? I might transfer a quid and see if it works! Thanks

Silaqui

Yes - the £1 went by faster payments and was immediately visible. Wish I'd have sent the £1 first and the rest after now! Still, live and learn! Thanks

intalex

Silaqui wrote: »

Yes - the £1 went by faster payments and was immediately visible. Wish I'd have sent the £1 first and the rest after now! Still, live and learn! Thanks

Glad to see this thread is already adding value!

Hurri

Silaqui wrote: »

Yes - the £1 went by faster payments and was immediately visible. Wish I'd have sent the £1 first and the rest after now! Still, live and learn! Thanks

That's quite nice.

I've never had such luck, my subsequent ones have always gone via BACS too....

pmduk

The only consistent thing about Santander is their ability to screw everything up! And then deny it's their fault

sparkle03

My OH has a A&L account (transferred over to santander).

I transferred £280 to my natwest account yesterday afternoon and it still isnt showing on my natwest account.

Does this mean it has gone by bacs? Even though it left his account and came off the balance right away?

If so when can I expect the money to reach my account? Monday I guess?