From Halifax websaver to Natwest Current Account

James129

Hiya everyone,

Recently I moved all of my savings (over 10k) from Natwest e-savings account to Halifax websaver as it enjoys much better interest rate. When I completed the transfer, monies appeared instantly in Halifax web saver account depsite that it was Saturday and late evening

Anyway I needed to move couple of grands back to Natwest current account and made a payment on Monday morning but still it hasn't appeared on the account. Do I need to leave couple of more days and need not to worry?

When I log into Halifax online banking, I can see the transaction being completed on 1st March but still no traces of money in Natwest current account.

rb10

Savings accounts do not usually offer outgoing faster payments, whereas current accounts do.

So when you sent the money from the current account to the savings account, that would go by faster payments (i.e. within 2 hours). Transfers from a savings account to a current account will go by BACS, which normally takes 3 working days.

If you have a Halifax current account, transfers from the websaver to the current account are instant.

opinions4u

Payments out of a Halifax savings account currently go by BACS, not faster payments. Before you clicked <send> you will have got a message saying it will take 3 working days. Expect the money to turn up today and tomorrow.

Two ways round it:

1) Transfer the money in to a Halifax current account first and then send the payment. This should (subject to relaibility of the Halifax systems which do have their moments) go via Faster Payments.

2) Date the payment out of the savings account for the next day. This will then go as an overnight Faster Payment the following night at the close of business the next day.

James129

Thanks both. That would explain it.

Cheers for your help.