Which Banks Do Fast Transfers ?

rb10

New_Collier wrote: »

Thanks to alanq for the CHAPs info
- but the BoS info/ limits do not seem to apply to Halifax. Interesting that others here have had problems / inconsistencies with Halifax faster payments.
I cannot work out why / whether they will send something as a faster payment. It seems to be entirely random. Sometimes they will send £3K, sometimes they won't send £10. In my experience it doesnt seem to be 1 per day or a cash limit. Anyone got any clues? Or is it entirely random?
I just think they want to keep hold of my money for as long as possible..... but don't want to look like that, so they pretend to do faster payments by doing some but not all the time.

I personally believe that it's constraints on the system that are preventing them from doing them properly. Clearly Lloyds Banking Group do not want to spend too much money on developing the Halifax online system, when it'll be defunct by Jan/Feb 2011. It makes more sense to put their efforts into making sure that the new system has a good FP service.

MarkFromCornwall

bigk wrote: »

My question is, which bank or building society offers fast transfer with a similar savings account to the Post Office one?

I find Lloyd, Tesco and NatWest the best. Bank of Scotland and Halifax are extremely unpredictable but at least they tell you in advance whether it's going to go as a Faster Payment so you can cancel if it says BACS. Santander has a low limit and there's no way of knowing in advance if it is going to go as a Faster Payment so sometimes it gets sent as BACS against your wishes. I'm just starting with First Direct - as far as I can see it's good during the daytime but as the light fades they go home and let the Faster Payment wait until tomorrow.

Milarky

The daily pattern with them seems fairly established now

On a first account:
They allow you a single £1000 max FP
They allow a further FIFTEEN £100 separate payments
(For a total of £2500)

IF you have additional current accounts

On a second account:
They allow a further FIFTEEN £100 separate payments
(for a new total of £4000)

On a third account:
They allow a further TEN £100 separate payments
(for a total of 5000)

The following day these 'allowances' seem to reset

The hope has to be that once they are using Lloyds system their limits will 'quietly' fall into place (£10,000 single payments etc)

G_M

Psychic Teabag is right. Use this post here for info.

tony1947

Milarky wrote: »

The daily pattern with them seems fairly established now

On a first account:
They allow you a single £1000 max FP
They allow a further FIFTEEN £100 separate payments
(For a total of £2500)

IF you have additional current accounts

On a second account:
They allow a further FIFTEEN £100 separate payments
(for a new total of £4000)

On a third account:
They allow a further TEN £100 separate payments
(for a total of 5000)

The following day these 'allowances' seem to reset

The hope has to be that once they are using Lloyds system their limits will 'quietly' fall into place (£10,000 single payments etc)

I had stored this technique away for future reference and yesterday was the first time I tried it. I can confirm it worked for me as well. One slight problem today I got a call from the Halifax Fraudulent Activity Dept and had to answer quite a lot of security questions. Commendable on the one hand but a bit off putting when using this workaround.

talexuser

I 've got a Halifax current for the £5 and it has allowed me to do £1500 and 1600 FPs on the first try.

wearside_2

Lloyds Vantage Account to First Direct is instant and the money can be seen after logging out from Lloyds and on to First Direct and vice versa. Lloyds Vantage pays 4% Gross up to £7,000 as well! My transfer to the Post Office in comparison from First Direct took three days!

G_M

Can I suggest again that people keep to one thread on Faster Payments. This one is monitored and the first post updated with changes as each bank joins the scheme or increases (usually!) its limits.