First Direct Faster Payment to Natwest

mustang1

I thought that First Direct used faster payment for transfers? It's taken 3 days for a transfer of £150 to go from my FD account to Natwest and they've processed it as a BACS payment.

Is there anyway to ensure a transfer goes as a faster payment?

Thanks

EarthBoy

I've made lots of payments from First Direct to NatWest, and they have all arrived within seconds. When you make the payment it says on the screen what day it will arrive in the respective sort code, and if this sort code can accept Faster Payments it will be the same day. After you have completed the payment, you get a message saying "if the payment is to a current account it will arrive within two hours".

Did you check the date showing for when the payment would arrive?

smartiedriver_2

EarthBoy is correct.

You can check beneficiary accounts at http://www.ukpayments.org.uk/sort_code_checker/

Not all banks participate, and even for the ones that do, not all of their sorting codes are eligible. You cannot ensure it goes faster payment unless both sender and recipient are participating.

Similarly, if you hold a business bank account and have the facility to send in excess of the £10k internet banking limit, it will not go via faster payment even if both sender and recipient participate.