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BACS Transfer to account has not cleared

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Comments

  • Debt_Robot
    Debt_Robot Posts: 344 Forumite
    stclair wrote: »
    Either the person has not sent the payment or they have sent it to the wrong details.

    Whos is sending you the payment? payments dont just vanish into thin air :eek:

    Update for everyone who was so kind to respond to this thread!

    --The sender's bank sent the payment back! I know why: it was sent to my First Reserve account, and it is my fault because I did not know that FR accounts from NatWest cannot have BACS transfers sent into them.

    --Payment was resent into my step account on Friday which I received today!

    Happy days and cracking way to start the week :)

    Thanks for the support everyone :T
    Credit Card paid back in Full (June 2011): :j £500 in the clear -

    Part of the £11,000 in 2011 challenge: £3,284 done so far.
  • System
    System Posts: 178,426 Community Admin
    10,000 Posts Photogenic Name Dropper
    Glad you've got the cash now.

    I don't know what you've been told, but that's simply not the case - First Reserve accounts can't have salary/wages paid into them, but can have Faster Pyaments and BACS paid in.

    Normally, if Natpest find out you've been paying in wages, they just close the account with 30/60 days notice.
    Debt_Robot wrote: »
    Update for everyone who was so kind to respond to this thread!

    --The sender's bank sent the payment back! I know why: it was sent to my First Reserve account, and it is my fault because I did not know that FR accounts from NatWest cannot have BACS transfers sent into them.

    --Payment was resent into my step account on Friday which I received today!

    Happy days and cracking way to start the week :)

    Thanks for the support everyone :T
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • Debt_Robot
    Debt_Robot Posts: 344 Forumite
    Heng_Leng wrote: »
    Glad you've got the cash now.

    I don't know what you've been told, but that's simply not the case - First Reserve accounts can't have salary/wages paid into them, but can have Faster Pyaments and BACS paid in.

    Normally, if Natpest find out you've been paying in wages, they just close the account with 30/60 days notice.

    Thanks for pointing this out. Natwest have been very annoying about this whole thing, but I think for now, I won't chance BACS transfers into a FR account.

    the stress of bank accounts = my life!
    Credit Card paid back in Full (June 2011): :j £500 in the clear -

    Part of the £11,000 in 2011 challenge: £3,284 done so far.
  • jen245
    jen245 Posts: 1,606 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    It must have been a different type of payment. I make BACS transfers into my First Reserve all the time. Its only a salary payment you cant have paid in
    Debt free and staying that way! :beer:
  • stclair
    stclair Posts: 6,856 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    To my knowledge First Reserve accounts can accept BACS / FP.

    However not to worry atleast the issue has been resolved now ;-)
    Im an ex employee RBS Group
    However Any Opinion Given On MSE Is Strictly My Own
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