Transferring from Santander to another bank account

BoroPhil

I recently set up a new Santander account, tempted by the £100 cash and 5%. On Friday I transferred £200 back to my old Barclays account and it hasn't appeared yet. Googling found some threads on here from 2010 that suggest Santander don't do faster payments so this will take 3 days via Bacs. Can anyone confirm this?

I've transferred payments the other direction (up to £3k) and they have been credited instantly.

MasterPJ

From what i've seen 'just' today about Santander they don't live up to the expectations that people expect.

AbbeyDhabi

BoroPhil wrote: »

I recently set up a new Santander account, tempted by the £100 cash and 5%. On Friday I transferred £200 back to my old Barclays account and it hasn't appeared yet. Googling found some threads on here from 2010 that suggest Santander don't do faster payments so this will take 3 days via Bacs. Can anyone confirm this?

I've transferred payments the other direction (up to £3k) and they have been credited instantly.

If this is your first transfer to your old account, then it will go by BACS. The next one, if it's under £300, should go via faster payments.

Having said that, don't forget this is Santander we're talking about. Best of luck, you'll need it.

erdd2

santander has signed up to the faster payment scheme and get the credit, but their performance in this area is like getting through to their customer services....slow!

cottager

BoroPhil wrote: »

I've transferred payments the other direction (up to £3k) and they have been credited instantly.

Each "end" of the transaction must be FP-enabled for it to be instant -- the paying bank and the receiving bank. As others have said, Santander are FP-enabled both ways, but your problem outwards will be their daily payment limit till they up it. Most of the big banks have £10,000 payment limits by now (or at least more than Santander), hence no problem receiving larger amounts inwards from Barclays.
http://www.ukpayments.org.uk/faster_payments_service/value_limits/

GooliesOfFire

Santander doesn't really offer full Faster Payments service.. That's the reason why it's not my main account anymore.

exel1966

BoroPhil wrote: »

I recently set up a new Santander account, tempted by the £100 cash and 5%. On Friday I transferred £200 back to my old Barclays account and it hasn't appeared yet. Googling found some threads on here from 2010 that suggest Santander don't do faster payments so this will take 3 days via Bacs. Can anyone confirm this?

I've transferred payments the other direction (up to £3k) and they have been credited instantly.

Santander operate FULL FP's and have done so for a long time.

Inbound payments are unlimited, outbound payments are currently limited to a paltry £300* due security concerns.

First time payments to a payee will always go via BACS, subsequent payments will go via FP. You will be advised prior to confirming the payment of which method will be used.

*It is possible to send higher amounts via FP when sending payments via a S/O, but it will only work when following a specific method.

hermante

exel1966 wrote: »

You will be advised prior to confirming the payment of which method will be used.

Really? Mine only says "please allow 4 working days" even for payees which I have already paid

exel1966

Initially (first page) it will state "please allow 4 working days" but on the following page just prior to confirmation it will state whether FP or BACS.

jadex

exel1966 wrote: »

outbound payments are currently limited to a paltry £300*

to make it worse this is not a daily limit but 24hours limit

MoneySaverLog

Lloyds TSB offer a full £25,000 faster payment service out and accept incoming too. Not that I'll ever really need it but nice to know it is there ;-)

Only ever experienced problems with the service once, but that was when systems were down. Other than that by the time I'd logged into the other account the money was showing as available :-)