Bank took standing order late

NFH

YorkshireBoy wrote: »

As per post #27...but NFH seems to believe otherwise. Why?...I'm not quite sure when presented with the facts?

See the OP's first post. Lloyds did not send the payment until Wednesday 4th. My understanding (OP, please clarify) is that the payment did not leave his Lloyds account until Wednesday 4th, regardless of which day it arrived in the destination account.

I've just checked what Barclays did, and was not surprised. I have two standing orders scheduled for 1st of every month. Barclays paid both standing orders on Tuesday 03/01/2012 by FPS, and the payments were received in the destination accounts likewise on Tuesday 03/01/2012. This is how it should work. Barclays got it right in my case and Lloyds got it wrong in the OP's case.

YorkshireBoy

vindicated wrote: »

http://m.direct.gov.uk/syndicationController?action=subcontent&param=DG_073741&section=3&utn=e0e1cdff3f1749f8a647201201061823

Confirms what I said and that I am giving the correct information. Please don't give out info without facts to confirm as it misleads others

I'm bemused by your stance.

Firstly, your link doesn't work for me.

Secondly, when I look at (perhaps) the correct link from direct.gov it clearly shows the 2nd Jan as a Bank Holiday for 2012. It does show 2011 as having the 3rd Jan as the substitute day in the first column. Maybe you misread it?

http://www.direct.gov.uk/en/Employment/Employees/Timeoffandholidays/DG_073741

YorkshireBoy

NFH wrote: »

Lloyds did not send the payment until Wednesday 4th. My understanding (OP, please clarify) is that the payment did not leave his Lloyds account until Wednesday 4th, regardless of which day it arrived in the destination account.

The PSD doesn't define when a payment must be sent...only when it must arrive by.

I'd be unhappy too in the OP's position, but as the 'rules' stand I don't think LTSB have contravened the relevant legislation?

zenmaster

vindicated wrote: »

http://m.direct.gov.uk/syndicationController?action=subcontent&param=DG_073741&section=3&utn=e0e1cdff3f1749f8a647201201061823

Confirms what I said and that I am giving the correct information. Please don't give out info without facts to confirm as it misleads others

No, you are giving incorrect information.

I guess you are looking at 2011 - we are now in 2012.

So, in this instance, not vindicated

vindicated

YorkshireBoy wrote: »

I'm bemused by your stance.

Firstly, your link doesn't work for me.

Secondly, when I look at (perhaps) the correct link from direct.gov it clearly shows the 2nd Jan as a Bank Holiday for 2012. It does show 2011 as having the 3rd Jan as the substitute day in the first column. Maybe you misread it?

http://www.direct.gov.uk/en/Employment/Employees/Timeoffandholidays/DG_073741

Apologies, new year was taken as the second and the seconds was taken as the third so in essence what I was saying was correct as the third was a bank holiday

NFH

YorkshireBoy wrote: »

The PSD doesn't define when a payment must be sent...only when it must arrive by.

I'd be unhappy too in the OP's position, but as the 'rules' stand I don't think LTSB have contravened the relevant legislation?

Absolutely correct. However, I don't think this excuses Lloyds' failure to transact on the instructed date. See my other post about Cater Allen, who seem to be doing similarly odd things. Where a payment is instructed well in advance, there is no excuse for waiting until the following banking day for both the debit and credit.

vindicated

Ah, further apologies just realised I was looking at Scotland - thought the banks had moved in line and all bank holidays were now taken at the same time

NFH

vindicated wrote: »

Apologies, new year was taken as the second and the seconds was taken as the third so in essence what I was saying was correct as the third was a bank holiday

No, you're still wrong. Your explanation is correct only in Scotland, and even then this difference doesn't apply to bank transactions. Tuesday 3rd January 2012 was a valid banking day throughout the United Kingdom. Stop arguing about it.

Mikeyorks

YorkshireBoy wrote: »

As per post #27...but NFH seems to believe otherwise. Why?...I'm not quite sure when presented with the facts?

Because - as post #20 - NFH seems oblivious of the fact SOs are processed in Batch mode overnight?

And allied that instead of working overnight between the 2nd and 3rd - it's clear Lloyds chose to go into Batch early on the evening of the 3rd. As I had some Debit Card payments (from the 2nd) processed onto my account around tea time of the 3rd. So they presumably got to SOs etc later in the evening and finished them overnight. Which is why SOs are not to be trusted. On another thread someone is bemoaning the lack of a £5 Reward. Again from a missing credit via SO dated for the 1st of an earlier month. Very indicative that the SOs would have commenced processing the 31st and (Lloyds to Halifax) finished early and therefore the credit was dated the 31st. Ergo no payment of £1k for the target month and no £5 reward.

Fortunately Vantage interest still has not appeared!

Mikeyorks

NFH wrote: »

I've just checked what Barclays did, and was not surprised. I have two standing orders scheduled for 1st of every month. Barclays paid both standing orders on Tuesday 03/01/2012 by FPS, and the payments were received in the destination accounts likewise on Tuesday 03/01/2012. This is how it should work. Barclays got it right in my case and Lloyds got it wrong in the OP's case.

You don't appear to have yet caught up with the fact that SOs do not work on weekends or Bank Holidays. Documented extensively by Faster Payments and the Payment Council.

So how are Barclay's 'getting it right' by processing SOs on the 2nd - which was a Bank Holiday!