BANK TRANSFER: My Mrs Feels Sick And Needs A Quick Answer

cockneysean

Hi there guys,

I hope one of you can give me a quick answer to show my better half that everything will be OK.

We have been making payments from her Santander account to my Barclays account as my account has a debit card facility whereas hers does not.

Now what the stressful issue is as follows:

We have misplaced the Santander card so we have just transferred all of our money, £963.68 from the Santander account to my Barclays account. We did not know that the scabby Abbey have a Faster Payments limit of £300, LOL what a joke!

Now it is telling is that the money has been transferred via normal channels and will take up to four working days to be in my account at Barclays.

This is more than unacceptable as we only have £10.66 in cash and two kids to feed so it's not going to cut it is it LOL?

Now what I would like a clear answer to, so I can show her, is this (I'm pretty sure it's correct): Can we phone up the Santander idiots and tell them that we just want to plain cancel the the £963.68 transfer so that it will be back in our account and I can then make a Faster Payments transfer of a smaller amount so that we have money to live on in the mean time and then the remaining funds can then quite happily spend 3 or 4 days getting from Santander to Barclays?

Please can someone help me out with an answer, preferably ASAP so the poor woman can get some sleep as she is super stressed about it!

Many, many thanks in advance,

Sean:(

sharpy2010

If I was you, I'd stop blaming the banks and start realising that you were to blame for putting into place a transfer whose terms and conditions you didn't fully understand.

With that out of the way, you'd be better off going into your bank, explaining you've made a mistake, and asking them to grant you a small overdraft until the situation is sorted.

But don't go in all guns blazing, as you made the mistake and you'll just upset them if you kick off. With the net result that they won't want to help you. And thus won't.

erdd2

Transfers cannot be cancelled minutes after submitted

The restriction of £300 is news to me, I transferred 1900 from Santander account to another bank in the FP scheme last week!
Did you do the transfer online or phone?

Lith

why not use a standing order? isn't there limit 10k? or have i read something wrong on my bank ? ....

erdd2

Lith wrote: »

why not use a standing order? isn't there limit 10k? or have i read something wrong on my bank ? ....

SO take time to set up. FPs are excellent for moving money....fast.

Yes there is a 10k per day limit but op is talking less than 1k

pcombo

Well come friday you will be able to afford a buffet.

Lith

erdd2 wrote: »

SO take time to set up. FPs are excellent for moving money....fast.

Yes there is a 10k per day limit but op is talking less than 1k

I know, but the OP states £300 limit on FP


he has just UNDER 1k, i would of used an SO and go the safe route.... you say it takes time? 0_o a few clicks and walla !

erdd2

Lith wrote: »

I know, but the OP states £300 limit on FP


he has just UNDER 1k, i would of used an SO and go the safe route.... you say it takes time? 0_o a few clicks and walla !

I know OP was told £300 limit on FP and addressed that.

I stated less than 1k

FPs are a safe route

I said SO takes time to set up not feeling the need to elaborate that whilst its clickety click job done to enter the details, there is a process behind the scenes and customers are advised to set up SOs a couple of days prior to first payment in the event there may not be any "walla"

The op clarified this transfer was to accommodate the misplacing of a card intimating a rushed/one off/immediate need and as FPs have less clickety click than SOs, it would be the preffered choice in the majority of cases.

OP, I would seek a second opinion of this 300 limit

cockneysean

Well thank you for all of your replies!

And sharpy2010, crikey mate, I hope you never make a simple hasty mistake, I think you were a bit harsh with your opening line!

But anyway, the £300 limit is stated here: http://www.ukpayments.org.uk/faster_payments_service/value_limits/

I hope that some of you find that valuable!

I don't understand why the payment didn't go down the Faster Payments route as we make transfers at least a few times a week using this method but this time on the statement it just says:

BILL PAYMENT TO SEAN ******** REFERENCE BARCLAYS, MANDATE NO 0005

As opposed to:

BILL PAYMENT VIA FASTER PAYMENT TO SEAN ******** REFERENCE BARCLAYS , MANDATE NO 5

Now, I had no intention of going into the bank with guns blazing as you mention, but having two small kids and only a tenner in cash we need the money back in our account so that we can arrange a Faster Payment that is within their limits, and as far as I'm concerned, the rest can be transferred in three or four days as the case may be.

If I have to wait till Friday, yes I will be able to afford a super sized buffet lol, but I don't think a four year old and two year old's bellies will appreciate that fact!

So this is what I have done. They always say they want requests in writing, so I have pre-printed a letter requesting the bill payment be stopped. We are both going down there together. We will both be taking ID, and I have printed statements from BOTH accounts showing all the other payments that have gone through the Faster Payments system.

Will also be going armed with the kids lol. I think it may help them to recognise our plight!

What do you guys think?

e2a: BTW I wasn't blaming anyone for anything I don't think. If I was can someone point out where I blamed and what I blamed for?

I simply thought that this payment would go as smoothly as all of the others, but sod's law being what it is, made this situation happen, so yes, if I'm going to blame anything, I'm blaming Mr. Sod for his law!

erdd2

Thanks for the link Sean, I wont be phoning Abbey to check as perhaps old accounts do not have this restriction

Good luck at the bank! Let us know how you get on please

cockneysean

Will do, two of the payments that went into her account yesterday are from the social security and child tax credits and have my name on them as a reference, so I'm thinking if anything we can get them to cancel on that basis and get access to those payments at the minimum.

Thanks for your reply mate. I will post as soon as I get back.