Why cannot bank transfers be made on Saturday's

nilrem_2

Waste of time moving money Sat and Sunday, the money I moved to NR on Saturday morning has still not been cleared, seems it would have made little difference had I waited until this morning (mon) !

amiehall

This issue is caused by NR not your own bank though. They seem particularly slow at showing transfers/clearing them. I have 2 current accounts and move money freely between them and that money is always showing by the time I've signed out of one account and into the next. When I transfer money to a NR account, it can sit for days as uncleared at any time of the week.

nilrem_2

amiehall wrote: »

This issue is caused by NR not your own bank though. They seem particularly slow at showing transfers/clearing them. I have 2 current accounts and move money freely between them and that money is always showing by the time I've signed out of one account and into the next. When I transfer money to a NR account, it can sit for days as uncleared at any time of the week.

Yes indeed I gathered that as the money arrived quite quickly from Natwest, however it makes a bit of a mockery of Faster payments if it takes days to clear in NR.

nilrem_2

What a farce! It seems that my original comment that transfers cannot be made at weekends is for all intents and purposes quite correct, that is as far as transfers from Natwest to N-Rock are concerned!

Yes you can make such transfers but the cash will not clear any sooner with NR than if you transferred it on the Monday, further more if you make a transfer of £10,000 on the Saturday they will not let you transfer any-more even on Monday so in effect if I transfer 10k on Saturday it is 3 whole days before I can transfer more.

This is the situation -: The money I transferred from Natwest to NR on Sat has still not been cleared for use yet (Monday evening) and Natwest will not allow me to transfer any more as they only allow 10k per day, yet in effect it is 3 days.

So the answer to my original question is that transfers can be made at weekends but in effect you may as well wait and do it on the Monday as it makes zero difference.

Piccyman

It would seem that Clydesdale don't comply with what they advertise on their website, 24 hrs a day seven days a week , they refused a payment on Friday 29th March(bank holiday) and didn't transfer the next payment on the Saturday 30th March until tuesday 2nd April

They said that Saturday and Sunday were not business days, and i guess not part of the seven days a week, I did ask them how many days they have in their week.

agrinnall wrote: »

What makes you think you can't do a transfer today? While the final reconciliations won't take place until Monday evening the money will leave your Natwest account and be in your NR account today.



How long will it take for a Faster Payment to go from one Bank to another?


The system enables you to use the branch, internet or telephone to make a payment that will reach the beneficiary bank account within a few hours. For internet and telephone service this service is available all day every day and means that you have the convenience of moving money between accounts within a few hours of initiating the payment, seven days a week. In branches the service is available during branch opening hours.
The new system also speeds up Standing Order payments – money moves from your account on the due date and arrives at the beneficiary’s account on the same day.

Edit: The reason may be that you want to transfer more than the FPS value limit, which for NatWest is still £10K, see . Anything above that has to go by CHAPS which is a Monday - Friday system (and you'll probably have to pay a fee to use it).

Milarky

nilrem wrote: »

What a farce! ..they will not let you transfer any-more even on Monday so in effect if I transfer 10k on Saturday it is 3 whole days before I can transfer more.

So the answer to my original question is that transfers can be made at weekends but in effect you may as well wait and do it on the Monday as it makes zero difference.

It's probably worth asking Natwest [on Tuesday] whether they can do a larger transfer on your behalf. I would assume they make a transfer 'overnight' at the end of the business/bank/working day that you request it.

talexuser

oldvicar wrote: »

You have to feel sorry for the little IT gnomes. In the (g)olden days they had all weekend to polish the computer valves and test that everything was working OK for Monday morning.

And make sure the rotors still spin ok and no breaks in the paper tape!