Halifax - Bill Payments and payment dates

OnlyMe_08

Hi

I'm trying to get my head around this.

If you had to make a BACS payment today - Sunday (over the FP limit), the system presents you next available date of 22 Aug 11. However, it doesn't allow this at the final confirmation stage, suggesting next earlist date will be 23 Aug 11?

I don't understand this. If I initiated a payment tomorrow morning, will it go on 22 Aug 11 or the following day - 23rd?

Does the Halifax treat a Sunday as the next working day or something?

Any experience with their payment dates welcomed.

bengalknights

It would be transmitted the next working day (22rd) for receiving by the other account on the 24th, although it could be they have a cut of time for bacs transmits.

OnlyMe_08

bengalknights wrote: »

It would be transmitted the next working day (22rd) for receiving by the other account on the 24th, although it could be they have a cut of time for bacs transmits.

As I said, although it gave the earliest date of 22nd, it actually cannot go through till 23rd. I'm assuming Halifax treats Sunday as a Monday?

I suppose the main question is whether Halifax always treat BACS (not FP) as the next available day, rather than on the day it's initiated?

If it goes out on the 23rd, I guess it won't reach destination account till the 26th?

Can anyone with experience in this matter shed any light?

YorkshireBoy

OnlyMe_08 wrote: »

I suppose the main question is whether Halifax always treat BACS (not FP) as the next available day, rather than on the day it's initiated?

That's been my experience, yes. A&L used to operate the same way, meaning BACS transfers from these two organisations took 4 days rather than the standard 3 days.

If it goes out on the 23rd, I guess it won't reach destination account till the 26th?

No, if it goes on the 23rd it'll arrive two days later on the 25th, as once it's in the system it takes the standard 3 days I mentioned above. The extra day is at the front end (22nd in your case) whilst it waits as 'pending'.

I seem to remember someone on here once asked Halifax why they operated BACS transfers this way and they were told "it's in case you change your mind"!

Azrael_1701

It debits the folowing business day (unless you do it after 6pm, then its the next business day after that), then its 3 working days.

OnlyMe_08

Right, I think I'm starting to understand it.

So the only way I would have been able to select the 22nd for it to leave my account would be if I initiated the BACS instruction sometime on Friday 19th (up to 5 - 6pm)?

If I initiated a BACS after the end of the business day on the 19th and over the weekend, the first available BACS date would be the 23rd? And I'm assuming if I processed the instruction tomorrow morning, the first available date will always be 23rd, despite 22nd being the default date?

pinkdalek

How much are you sending?

Have you not tried sending smaller amounts,

EG If you are sending £4000, try sending 4 payments of £1000 each, tend to find the faster payment option would work in this case.

You can cancel the pending payment at any time before 6pm Monday by the way.

Azrael_1701

OnlyMe_08 wrote: »

Right, I think I'm starting to understand it.

So the only way I would have been able to select the 22nd for it to leave my account would be if I initiated the BACS instruction sometime on Friday 19th (up to 5 - 6pm)?

If I initiated a BACS after the end of the business day on the 19th and over the weekend, the first available BACS date would be the 23rd? And I'm assuming if I processed the instruction tomorrow morning, the first available date will always be 23rd, despite 22nd being the default date?

Bang on OnlyMe.

opinions4u

Post-dated bill payments join the standing order run and usually go via Faster Payments.

YorkshireBoy

opinions4u wrote: »

Post-dated bill payments join the standing order run and usually go via Faster Payments.

So if the OP cancelled the pending transaction now...and set it up again for the 24th...it could actually arrive a day sooner?

Is there a limit for this type of transaction? (embarrassed that I don't know despite having 4 current accounts with them!).


EDIT: Looks like it's £2.5K ?

noh

I think it is £1K for standing orders via FP with HBOS .
£2.5K is the immediate FP limit.

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