Faster Payments to Nationwide - Just not faster

gibbon123

I made a payment into my Nationwide mortgage of £500 from the Halifax which left as a faster payment. It is the following day and it hasn't arrived yet. I have checked the sort code and it is fine to receive a faster payment.
Is there an agreement by the bank that is should be made within 2 hours?
Does anyone else have this problem?

agrinnall

There have been a few posts on the credit card board in the last couple of days about HBOS having problems making Faster Payments. I would check your sending account to make sure it's not still pending. Some people have cancelled it and made the payment again successfully.

The expectation is that Faster Payments will arrive within 2 hours but it's not a guarantee. Under the new payments directive that came into force at the start of the year all payments have to be completed by the end of the next working day, although I'm not sure what happens if they're not.

Gromitt

gibbon123 wrote: »

I made a payment into my Nationwide mortgage of £500 from the Halifax which left as a faster payment. It is the following day and it hasn't arrived yet.

If you sent it on Friday, its not guaranteed to arrive until close of business on Monday.

alanq

Gromitt wrote: »

If you sent it on Friday, its not guaranteed to arrive until close of business on Monday.

The OP was made today. Today is Sunday. The OP says "It is the following day and it hasn't arrived yet. " I take this to mean that the payment was made on Saturday and is therefore not guaranteed to reach its destination until close of business on Tuesday. It may arrive earlier than that but until then there is no cause for complaint.

Rupert_Bear

gibbon123 wrote: »

I made a payment into my Nationwide mortgage of £500 from the Halifax which left as a faster payment. It is the following day and it hasn't arrived yet. I have checked the sort code and it is fine to receive a faster payment.
Is there an agreement by the bank that is should be made within 2 hours?
Does anyone else have this problem?

We have a Nationwide mortgage and have always paid them by dd.

Be financially savvy and save the stress.