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Santender: Faster Payments 3 days!

Yet another restriction from Santender and their FPS limits:

In order to overcome their £300 FPS limit, to pay a CC, I did one £50 payment on Wednesday, which went by FPS, they only allow 1 FPS per day per payee. So I followed that by £299 on Thursday which hasn't gone by FPS.

Phoned Santender - Yes Sir, repeated daily transactions to the same destination 'may not' (ie definitely will not) go via the Faster Payment System but it should take 3- but definitely 4 days!!!. Advisor inferred that the computer cann't cope??

So when will you increase the FPS limit ? Don't Know sir

Maybe I need to try a two day delay between FPS payments!!

If only they would state this restriction clearly some where rather than the weaselly words they hide behind, at least we'd know and cope. Its this underhanded approach to their customers the frustrates so!!

Comments

  • DrSyn
    DrSyn Posts: 899 Forumite
    Part of the Furniture 500 Posts
    Switch to the "Co-op Bank" or "First Direct or another bank!"

    :money:
  • Santander:
    1st payment will always go by FPS (not always) and future payments will use BACS
    some advisors had told me this
  • blueberrypie
    blueberrypie Posts: 2,400 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Name Dropper
    edited 2 January 2024 at 4:00PM
    vinh1000 wrote: »
    Santander:
    1st payment will always go by FPS (not always) and future payments will use BACS
    some advisors had told me this

    There was a policy whereby the first payment went by BACS, and subsequent payments would (possibly) be FPS.

    There has never been a policy such as you describe, and such a policy would be stupid. But then it is Santander, so...
  • JuicyJesus
    JuicyJesus Posts: 3,832 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    DrSyn wrote: »
    Switch to the "Co-op Bank" or "First Direct or another bank!"

    :money:

    The Co-op bank are just as bad - not able to tell you if a payment is going by FPS before it's sent, and often not.

    First Direct, meanwhile, are very reliable.
    urs sinserly,
    ~~joosy jeezus~~
  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    Complain to anyone and they will say there is 'competition' in this area. That has to be the case because there are no real 'standards'

    Movement to Faster Payments by all banks for all payments is only coming about by a coincidence of factors: i) a European-inspired payment services directive with a final date for adoption of 1 Jan 2012 for at least [at most?] 'D+1' transfer times and ii) the lack of any actual 'D+1' transfer scheme (BACS is 'D+2') in existence. Thus we have universal adoption of Faster Payments 'by the back-door' but not as a result of any regulatory [if you don't count European Directives as 'regulation'] action by HMG OR as a result of 'competition' [we've seem exactly how much that has achieved!]

    Faster Payments is great where it works but the banks are the gatekeepers to a system we all 'own'.
    .....under construction.... COVID is a [discontinued] scam
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