'Instant' Instant Access Savings

addinsell

I have a instant access saving acct with Egg and it takes 3 days to get money into my HSBC account. A friend has a Tesco savings acct and money moves from there into his Natwest acct instantly. Does anyone know which 'savings' organisations deliver money instantly and to which banks' current accounts?
Thx

Stompa

Here's a list of banks that can send faster payments:

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

and if you pop a sort code in here:

http://www.ukpayments.org.uk/sort_code_checker/

it'll tell you whether the account can receive faster payments.

Sceptic001

Check out this thread on Faster Payments:
https://forums.moneysavingexpert.com/discussion/985463
Not many savings accounts use FP for withdrawals.

alanq

Is there anywhere in the Egg documentation that describes the account as "instant access"? The only truely instant access to cash comes with a branch account or an account that comes with an ATM or debit card. Otherwise I think at best it can be described as "easy access".

There are many savings accounts that can receive faster payments but (apart from Tesco) I am unaware of any accounts that can send them. With some savings accounts the money appears in a savings account within a couple of hours with others at the beginning of the next working day.

http://www.chapsco.co.uk/faster_payments/-/page/fpslimits/

opinions4u

Tesco and RBS use FP from savings accounts. These are the exception.

Most of the high street banks will allow instant transfers from savings to current accounts and then FP from the current account to a third party.

The likes of Egg, ING, BM etc who are direct providers use BACS. They don't claim to be instant access - merely easy access.