Instant Payment Failed!

redhat

I tried to send an instant payment via coop business account to HMRC for self assessment end of July payment. Seemed to go through but when checked five days later showed failed. coop advisor said HMRC had changed their bank and now didnt accept instant payments which stay in the system up to two hours til they show as failed. is this really true?

pmduk

nothing would surprise me with HMRC. The fact that they don't show as failed immediately probably stems from the fact that unless the other bank rejects the transaction immediately, your bank will wait the full 2 hours allowed before assuming that the transaction has failed.

Biggles

Not sure why it didn't default to a BACS payment in that case.

premierfella

Biggles wrote: »

Not sure why it didn't default to a BACS payment in that case.

[STRIKE]
I could be mistaken, but I think it is because this didn't fail on the basis of the Faster Payments service itself failing but because the OP used the old bank details for HMRC, which were changed a while ago (although whether the old details should have thrown up an immediate fail on the Faster Payments service is an open question I guess).
[/STRIKE]
The OP makes clear below that they used the bank details from the demand sent, so the above appears not to apply.

redhat

i carefully used the details on the statement they sent me.
i'm annoyed that now i will be charged interest even though i tried to send it speedily. there is nowhere on the statement that says do not use immediate payment!!!

Biggles

If I send a payment via my Lloyds, or any other current account I have, to a valid bank account, it automatically sends via BACS if the account doesn't accept FPS.

If Co-op (who have always been a cranky one of a kind when it comes to banking - they should stick to groceries) ask you to select FPS or BACS without you knowing whether the account accepts FPS, then that's doomed to create problems.