Faster payments from A&L savings a/c

leaphaze

I've just sent the following secured message to A&L about my savings a/c: "Have you suspended the faster payments service? On 17/7/10 I sent £150 and it went as an outgoing faster payment; I did the same today and it didn't. Are you still operating the faster payments service for savings a/cs or has the payment limit been reduced?"

Has anyone else had problems sending payments from A&L savings accounts recently?

jordan_ash

I didn't know A&L had a faster payment option but the payments process does seem quixotic. Any payment of over £100 from my A&L account always takes at least three days to arrive in another bank account - payments of less than that often arrive the same day they leave my A&L account. I can't break the payments down into sub-£100 chunks because the account will only allow me to make one payment on any given day.

atypical

leaphaze wrote: »

Has anyone else had problems sending payments from A&L savings accounts recently?

It used to be practically guaranteed that any outgoing payments of £250 or less would go as a faster payment. I even used to send multiple batches of £250. Since the Santander integration is seems to happen randomly.

With faster payments in, they used to appear immediately after sending them. They now appear the next day and are dated the next day, so I guess you lose a days interest where you never used to before. It's only a small amount I know, but an unnecessary change.

dave461_2

I had one work on friday for £250, but straight after one for £180 went by bacs. Then today another £230 to the same account as the £250 went by bacs too.

christh

Since A&L became Santander, outward Faster Payments are gone. History. Fortunately I figured this out before it cost me.

As far as I know, Tesco Savings is the only savings account left that supports outgoing Faster Payments, and I'm in the process of opening an account.

leaphaze

christh wrote: »

Since A&L became Santander, outward Faster Payments are gone. History. Fortunately I figured this out before it cost me.

Interesting - a step back into the past. We'll see A&L's reply to my secure message.

christh wrote: »

As far as I know, Tesco Savings is the only savings account left that supports outgoing Faster Payments, and I'm in the process of opening an account.

Yes, I can confirm that, I have a Tesco savings a/c as well. Interesting thing is they don't appear to have a Faster Payments limit. The largest amount I've transfered out instantly was £1000. Brilliant service. :T

MarkFromCornwall

christh wrote: »

As far as I know, Tesco Savings is the only savings account left that supports outgoing Faster Payments, and I'm in the process of opening an account.

... and they even use FP in and out with Clubcard Plus accounts.

YorkshireBoy

leaphaze wrote: »

Interesting thing is they don't appear to have a Faster Payments limit.

It's currently £10K...

http://www.tescofinance.com/personal/finance/savings/savingsaccounts/internetsaver/summary-box.html (scroll down to the bottom of the summary box)

TwistedPsycho

Errrrrm.

I know on my current account that I have NEVER had faster payments on A&L, small and large payments to my wifes Lloyds a/c have always taken 3 days, although when the wife transfers into mine its "faster"

hallmark

A&L are uttlerly random. i sent two payments the other day within 5 minutes of each other from the same acct, both to the same receiving bank. One took 20 minutes & one took 3 days.

christh

TwistedPsycho wrote: »

Errrrrm.

I know on my current account that I have NEVER had faster payments on A&L, small and large payments to my wifes Lloyds a/c have always taken 3 days, although when the wife transfers into mine its "faster"

A&L had an outgoing Faster Payment limit of £250.