Warning!! Lloyds no longer take fast payments

opinions4u

Paul_Herring wrote: »

Faster payments are only applicable between accounts (in this case from your current account to the provider's account, which is distinct from your credit card.)

It provides no guarantees (and never did) to how long a credit card provider takes to move the money to your credit card having received it.

http://www.lloydstsb.com/ways_to_bank_with_us/faster_payments_faq.asp

Don't let the facts get in the way of some worthy hysterics!

Paul_Herring

opinions4u wrote: »

Don't let the facts get in the way of some worthy hysterics!

larkim

BACS is never 4 working days either. BACS payments initiated before a specified cut off in the evening (from my experience, up to 7pm in a commercial environment) will be processed the next day and credited to the recipient's account on the following day.

That's exactly the experience I've had both with my commercial hat on (in work as a finance professional) and in private sending money from my personal account from one bank to a different bank.

(Though don't sue me if I'm wrong!)

My experience is that companies receiving payments always advise customers of a longer payment processing time than is necessary just in case something goes wrong in the system.

Matt

Ben8282

I have seen this when I have paid my own Lloyds/TSB credit card. It means nothing and the payment still goes through exactly as before and is credited to the credit card account the same day as it leaves the current account.