Santander - xmas payments

dmh301

Hi,

Just out of curiosity was Santander the only bank NOT to put Wednesday transactions through overnight last night.

Thanks David

stclair

Natwest and RBS have done it to? along with all the other banks I can imagine.

They will do as Monday and Tuesday are a bank holiday so Wednesday will be the next working day.

dmh301

Thanks for reply, this is what I thought would happen however Santander haven't done that for whatever reason.

samwsmith1

I thought banks only processed transactions during the night that they were due, so next Wednesdays would be processed in the early hours of Wednesday.

At least FD/HSBC have never processed anything earlier than due.

stclair

dmh301 wrote: »

Thanks for reply, this is what I thought would happen however Santander haven't done that for whatever reason.

I do apologies I misunderstood what you was saying.

Yes santander do not appear to have brought forwards credit etc due to the christmas period.

dmh301

samwsmith1 wrote: »

I thought banks only processed transactions during the night that they were due, so next Wednesdays would be processed in the early hours of Wednesday.

At least FD/HSBC have never processed anything earlier than due.

That's what normally happens however alot of banks (yours and mine excluded) skip bank holiday dates and do the next available bank day which is Wednesday on this occasion on the Friday before so some people who are due payments on Wednesday 28th December actually got it on Xmas eve.

Hope that makes sense

jonesMUFCforever

Most benefit/pension payments due on Monday or Tuesday next week went into bank accounts last Thursday/Friday.

chexum

For what it's worth - citi don't show the two direct debits (yet) that are supposed to go out on the 28th. Nor do I see the standing order that's on the 25th each month (though the "next" regular payment is shown to be on 25/1/2012). I'm not quite sure if it's because they won't show the future payments at all or they have any issues with the 4 days bank holiday...

However, they are also introducing faster payments just now (quite late in the game), so that may be a factor as well.

In the long term though (well, in one week), as every payment is going by FP, we're going to lose early access to money arriving on Monday, as it will actually be received on Monday. If you would expect your salary on 31 January, it will still be possible for your employer to send it by 3PM the same day, or even later...

stclair

Thats a good point now that the BACS 3 day cycle has been made defunct (nearly).

There should not be a reason now to do things in advance as most banks have already made the change.

How it will work in theory is another question though....

cockneysean

snip......

freezspirit

I've had the opposite happen with Barclays, a standing order for 24th Dec finally went out of my account on 28thDec. And a cheque put into my account on 23rd Dec was told by cashier to expect money to be available 1st week of Jan.