Account for making "faster payments" ?

Beancounter

I am currently with Santander. I buy and sell a lot of stuff online and use bank transfers to pay. With Santander I am finding that the payments take 4 days but any payments I receive from other banks are received by me instantly.

Can anyone recommend another bank that will do faster ppayments to other accounts?

jalexa

Beancounter wrote: »

Can anyone recommend another bank that will do faster ppayments to other accounts?

Read this...

http://www.ukpayments.org.uk/faster_payments_service/value_limits/

premierfella

If I had to recommend a current account simply based on Faster Payments out it would be Lloyds TSB (if you are happy with receiving an automated telephone call to verify all payments to new account details) or NatWest (if you prefer validating via a card reader).

Beancounter

jalexa wrote: »

Read this...

http://www.ukpayments.org.uk/faster_payments_service/value_limits/

Great stuff apart from Santander being listed there. Despite me making a £76 transfer on Friday the payment won't reach the recipients account until Wednesday.:mad:

erdd2

Beancounter wrote: »

Great stuff apart from Santander being listed there. Despite me making a £76 transfer on Friday the payment won't reach the recipients account until Wednesday.:mad:

Although listed as one of the big banks in the faster payment scheme, it has certainly not lived up to that in my experience. Llyods, RBS and NW do and their faster payment in my experience are instant.

BoroPhil

Really should have read this before making my own thread. I'd say this fact would be worth adding to the bank accounts section of this site as Santander's account is flagged up as great, yet this is a pretty big downside imo.

samwsmith1

First Direct have always been great with faster payments - don't think I've had any go through BACS, would highly recommend them!

Milarky

samwsmith1 wrote: »

First Direct have always been great with faster payments - don't think I've had any go through BACS, would highly recommend them!

Not for their website tough.

jen245

Never had any issues with sending or receiving faster payments with my Natwest current account

Beancounter

Thanks for the input folks, to the peeps saying Natwest, I assume RBS would be just the same as their accounts seems to be the same as Natwest's? Would be handy as I have a branch nearby but i'm 20 miles away from Natwest.

benjus

samwsmith1 wrote: »

First Direct have always been great with faster payments - don't think I've had any go through BACS, would highly recommend them!

I'd second that - no stupidly low limits (with Nationwide I was limited to £1000 in total per day in Faster Payments), no card reader required. OK, the FD website isn't the greatest but it's functional enough.