Halifax Faster Payments this weekend

glider3560

Lady_K wrote: »

This might be a silly question but does this mean I can't purchase anything online using halifax this weekend as it wont go through? like a tesco online order or buy anything online?

As far as I'm aware, debit card payments will work as normal. Not sure if there will be a small amount of downtime when the switch actually takes place overnight?

Vito_Scaletta

This has given me a huge problem. My girlfriend has a Halifax account and helps pay the bills from my account using this method every month, this month we needed the money to go in on the same day as she was paid it. I am now £130 over my overdraft limit and there is probably more to come out before Monday. I have tried everything I can to get some money into the account in time but I have no options left.

We were not pre-warned about the down time, what are my chances of being compensated for the fines I will receive?

glider3560

Vito_Scaletta wrote: »

This has given me a huge problem. My girlfriend has a Halifax account and helps pay the bills from my account using this method every month, this month we needed the money to go in on the same day as she was paid it. I am now £130 over my overdraft limit and there is probably more to come out before Monday. I have tried everything I can to get some money into the account in time but I have no options left.

We were not pre-warned about the down time, what are my chances of being compensated for the fines I will receive?

Halifax apply credits before debits (provided they occur on the same day), even if the credit occurs after the debit. So if you go overdrawn on Monday, provided cleared funds are in the account by close of business, you won't be charged anything.

opinions4u

Vito_Scaletta wrote: »

We were not pre-warned about the down time, what are my chances of being compensated for the fines I will receive?

As the Faster Payments system isn't guaranteed, they don't have an obligation to compensate. Additionally, the online banking site has been providing warning all week.

Weekend requests for FP at Halifax have a habit of going via BACS at the best of time. What would you have done then?

You can ask them nicely and see what happens.

Perhaps ask for an increase in overdraft on the receiving account?

Then look at how you manage money. Better planning and reduced spending can avoid these situations.

MoneySaverLog

glider3560 wrote: »

Halifax apply credits before debits (provided they occur on the same day), even if the credit occurs after the debit. So if you go overdrawn on Monday, provided cleared funds are in the account by close of business, you won't be charged anything.

How do Halifax know that a credit will go in the same day to cover a debit? If a payment was made from my account and the money was not there for say £1,000 over any available money I some how doubt they would make that payment on the hope that it would be cleared on the same day later on. Assuming you don't go into a unauthorised overdraft.

.1xp

Vito_Scaletta wrote: »

We were not pre-warned about the down time, what are my chances of being compensated for the fines I will receive?

I've been seeing a message online all week to pre-warn me about it? Strange that you didn't see it too?

Vito_Scaletta

glider3560 wrote: »

Halifax apply credits before debits (provided they occur on the same day), even if the credit occurs after the debit. So if you go overdrawn on Monday, provided cleared funds are in the account by close of business, you won't be charged anything.

The bank account in overdraft is HSBC not Halifax.

opinions4u wrote: »

As the Faster Payments system isn't guaranteed, they don't have an obligation to compensate. Additionally, the online banking site has been providing warning all week.

Weekend requests for FP at Halifax have a habit of going via BACS at the best of time. What would you have done then?

You can ask them nicely and see what happens.

Perhaps ask for an increase in overdraft on the receiving account?

Then look at how you manage money. Better planning and reduced spending can avoid these situations.

I have used the faster payments system every month for the last 6 months and had the money within less than a minute. This is the only month when I have actually needed the money on the same day.

As for the warning being on the site all week, we haven't had any reason to use the site in the past few weeks so how could we have seen it? Why on earth didn't they send letters or emails? If we were pre-warned we could have done something about it, as it is there are hundreds of pounds sitting in one bank account and another overdrawn!

steveE2

MoneySaverLog wrote: »

How do Halifax know that a credit will go in the same day to cover a debit? If a payment was made from my account and the money was not there for say £1,000 over any available money I some how doubt they would make that payment on the hope that it would be cleared on the same day later on. Assuming you don't go into a unauthorised overdraft.

Halifax wouldn't know there was going to be a credit paid in but if you did pay in on the day the debit was due the credit would be applied before the debit was taken.

rich_shot2003

Does anyone know if The Faster payments made from Another Bank into my Halifax account today will be ok?

or will it not go into account till Monday?

its ok as just moved some money from a Lloyds account to my Halifax account and it went in within a min.

[Deleted User]

Why don't you just use cash? Or do your banks not open Sundays?