Santander Faster Payments

jakesuk

rb10 wrote: »

You can easily get around it, and send payments of up to £5000 by FP, by sending the payment as a Standing Order.

That doesn't sound very convenient..

Do you have to set up the standard order at a set interval and can you change it as and when you want to make a payment?

Are you saying that what you do is set up standing orders for all your payees and whenever you need to pay one you adjust a standing order and make the payment that way?

Toe-Jam

bcfc1710 wrote: »

If i did a £550 standing order would that go FP?

The first one will go by BACS the slow 3 day one and after that it will be Faster Payment.

If you alter your existing payments in anyway whatsoever , it resets them and the first one will go by BACS again.

rb10

Toe-Jam wrote: »

If you alter your existing payments in anyway whatsoever , it resets them and the first one will go by BACS again.

That's not the way it worked for me.

I set up an annual SO for £1. It went by BACS.

A few days later I amended the SO to be for £1000, to come out the following day - so I changed both the date and the amount, to be higher than their 'bill payment' limit.

That second payment went by FP.

Toe-Jam

rb10 wrote: »

That's not the way it worked for me.

I set up an annual SO for £1. It went by BACS.

A few days later I amended the SO to be for £1000, to come out the following day - so I changed both the date and the amount, to be higher than their 'bill payment' limit.

That second payment went by FP.

Well i tried it will a bill payment not a s.o so maybe its different

adindas

Good to know this

rb10 wrote: »

That's not the way it worked for me.

I set up an annual SO for £1. It went by BACS.

A few days later I amended the SO to be for £1000, to come out the following day - so I changed both the date and the amount, to be higher than their 'bill payment' limit.

That second payment went by FP.

motoko

rb10 wrote: »

I amended the SO to be for £1000, to come out the following day ... That second payment went by FP.

Same here. I amended the date on the SO I set up from Santander to Natwest, and it still went as a faster payment despite the change. Haven't tried changing the amount yet, will do that this week. Also need to do some testing to see how far in advance it needs a to be amended, Santander website suggests 2 clear working days, but if you have managed to do it the previous day then that is looking good to me, I will try this too.

The other thing I'm wondering is this... if you have say a weekly SO set up to go out on a Monday, then after it has gone you change it to go out on a Friday, will it go out that Friday or not until the next Friday because it considers it has already made the payment for that week? Similarly if you have an SO set up for early in the month & change it to later in the month. This is another thing i need to test, before I can rely on this system.

motoko

Just to second what rb10 found...

This week I changed both the day (from Fri to Thurs) and the amount (from £5 to £400) of the SO, and it did still go by FP. I only made the change online the previous day (Weds) and despite this it went out with the new amended details the next day.

Seems like for anyone who wants to send more than £300, or just hasn't been switched over to the new online system yet, SO is the way to go.

Baldur

motoko wrote: »

Just to second what rb10 found...

This week I changed both the day (from Fri to Thurs) and the amount (from £5 to £400) of the SO, and it did still go by FP. I only made the change online the previous day (Weds) and despite this it went out with the new amended details the next day.

Seems like for anyone who wants to send more than £300, or just hasn't been switched over to the new online system yet, SO is the way to go.

I sent an initial £1 SO to Natwest on 24th May, usual BACs transfer arriving on 26th.

Changed the date to 1st June and amount to £1,000 and that was sent via FP.