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Citibank - Faster Payments
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Worrying. I mean, the odd bit of teething trouble is common, but what sort of mess are they in, if (after so many postponements) they go live with a system they can't fix in a week?"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
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If I enter 30-00-45 in the sortcode checker at
http://www.ukpayments.org.uk/sort_code_checker/
it ticks the box for Faster Payments, but says (underneath)
Please note that payments [by any method, I wonder?] to sort code 30-00-45 cannot currently be accepted.
A chap at the call centre told me that Citi are aware there is a technical problem, and the 'technical team' are working to resolve it. He suggested asking other banks to send payments as BACS Direct Credits instead. I'll be surprised if call centre staff at other banks know how to do this.
Barclays are warning that no payments can be made to this sort code by any method. They expect this to be cleared by today.0 -
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Sort code checker updated http://www.ukpayments.org.uk/sort_code_checker/
Citibank are not listed as accepting faster paymentsHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
The Citibank website says that their FP limit will be £100,000 once setup.
Once the teething problems are sorted, seems like they will be one of the best for FPs!This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Also from the website
"Any online instructions received by us after 3pm on a Banking Day will be treated as being received on the next Banking Day for the purposes of calculating clearance times."
Does this imply that they're only going to offer an overnight service, rather than a real-time service?"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
I tried again last night via Smile, and no sign of a rejection yet....
Hopefully they've fixed it.10lb to lose & keep off in 20204.5lb/10lb:rotfl:0 -
Someone at the customer service desk at 3 Hanover Sq told me (though I have no idea whether she was just making it up) that
1. The attempt to get Faster Payments to Citi to work last week had not worked. (As we knew!)
2. Citi will let us know when Faster Payments in and out are really going to work.
3. Citi is aware that it will have to work by 1 Jan 2012, hence the date of 21 Dec on the website.
4. BACS Direct Credits to and from Citi are working.
It is all rather worrying. Citi has been saying for about 2 years that FP in and out will work, but not yet, and what 'not yet' means has kept shifting. As I understand it Citi is not a member of BACS, but has an arrangement with Lloyds for the 30-00-45 Lloyds code (and the 30-00-00 Lloyds head office bulk collections code plus a Citi head office account number) to route payments to Citi. I can believe it is not straighforward for Citi to join Faster Payments, but continue to use the 30-00-45 Lloyds code. I wonder if it is negotiations with Lloyds, rather than technical incompetence, which have caused these repeated delays.
Or maybe Citi has so far just had a work-experience student on it, and now they are pulling out the stops and getting someone back from retirement one afternoon a week to check the student's code?This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Now got an online message apologising for the problems, pointing out that (a) I may need to chase people to make payments again (b) with incoming payments going missing, I may have missed outgoing payments owing to insufficient funds.
Sorry, but I don't normally check my Citibank online messages daily. And if people are expecting their accounts to be running on autopilot (and why not?) , I don't think an online message is an adequate way to call their attention to the fact that urgent action may be needed.
We need to resist this creeping notion that people are supposed to check their online banking daily and it's their fault of they don't."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
The Citibank website says that their FP limit will be £100,000 once setup.
Once the teething problems are sorted, seems like they will be one of the best for FPs!
EGG are launching faster payments on 6 December 2011 with a limit of £100,000 too - the cut off point appears to be 6pmHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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