Missing £10k

JanCee

I transferred £10k this afternoon from Santander to RBS using the faster payment system & it hasn't arrived.

It is a transfer I have done before so no problem with the details. Santander tell me it was sent without problems but RBS are saying they haven't received it yet. Someone isn't telling the truth.

Does anyone who works for either bank have an explanation? I am thinking that it may be being held up for a fraud investigation, but if anyone can tell me how long this will take I would be most obliged.

The annoying thing is if these banks didn't keep dropping their interest rates to 0.5% then I could leave my money where it is. :mad:

Lith

hmmm

What does it say on ya statement ? it could just be a glitch in RBS

they are always updating/changing etc.

al25

There were reported problems with Natwest FP side of things this afternoon. Not sure if it would effect RBS.

Mikeyorks

JanCee wrote: »

I transferred £10k this afternoon from Santander to RBS using the faster payment system & it hasn't arrived.

It has until close of business tomorrow to get there - under the regulations. Most are under 2 hours but some - particularly Santander initiated - take the full allowance.

Would point you at another thread where this has been discussed to nauseating length - but you wouldn't want to read it.

stclair

al25 wrote: »

There were reported problems with Natwest FP side of things this afternoon. Not sure if it would effect RBS.

Anything that effects Natwest will effect RBS and vice versa as they operate on the same system.

meer53

Mikeyorks wrote: »

It has until close of business tomorrow to get there - under the regulations. Most are under 2 hours but some - particularly Santander initiated - take the full allowance.

Would point you at another thread where this has been discussed to nauseating length - but you wouldn't want to read it.

Please don't ! It's only just slipped away :rotfl:

JanCee

al25 wrote: »

There were reported problems with Natwest FP side of things this afternoon. Not sure if it would effect RBS.

Thanks for the info. The money eventually turned up about 3 hours after it left Santander, I know this is probably within the t&cs but it usually takes a lot less time than this. It's a pity that customer services at RBS couldn't have mentioned the technical problems instead of blindly repeating that it was nothing to do with them & they couldn't do anything to help.

pmduk

The CS staff won't always know. It once took 3 hrs for a transfer from Natwest to RBS, almost unheard of, the staff could only suggest that as it was lunchtime on the last Friday of the month the systems would be under great pressure. Sods law it was the one time I needed the money urgently.

stclair

JanCee wrote: »

Thanks for the info. The money eventually turned up about 3 hours after it left Santander, I know this is probably within the t&cs but it usually takes a lot less time than this. It's a pity that customer services at RBS couldn't have mentioned the technical problems instead of blindly repeating that it was nothing to do with them & they couldn't do anything to help.

If the funds was sent from Santander to RBS then RBS would not be under any obligation to investigate the missing funds it would be the duty of the sending bank regardless of any technical issues or not. Under the new PSD the payments has until the close of business the next working day to credit the account.

JanCee

stclair wrote: »

If the funds was sent from Santander to RBS then RBS would not be under any obligation to investigate the missing funds it would be the duty of the sending bank regardless of any technical issues or not. Under the new DSRs the payments has until the close of business to credit the account.

When using internet banking what time is classed as close of business?

Gromitt

stclair wrote: »

Under the new DSRs the payments has until the close of business to credit the account.

I thought it was close of business on the following working day

JanCee wrote: »

When using internet banking what time is classed as close of business?

Depends on the bank, but I'd expect something like 3:30pm or thereabouts. Ie, the time after which credits and debits are processed the following working day.