Barclays Business Account

jasperconran

Well my OH and I have not long opened a Barclays business account and we are due to receive our first payment for a job OH has done.

But my question is, the company sent the payment yesterday morning (Tuesday) and we still have not received it yet:eek: I rang the company in question, and they advised we should get it tommorow. So I rang Barclays up just now and they say they cannot see anything pending on our account until it actually hits the account!!! I have never known a bank not to show pending transactions online! so my question is, how long do these things usually take?? we are waiting to pay people thanks

ChiefGrasscutter

Conversely
I've never heard of a bank making available a listing to the user on any "pending funds incoming page" online facility listing monies which have not yet hit the account from an external source.
With Faster Payments anyway they simply appear - there is no pending stage.

For a BACS payment (which is a 3 day cycle) the bank do get private knowledge of incoming funds the day before they actually registered on your account - when I had large sums coming in my Bank sometime rang me up the day before I knew the monies would arrive.

Others on here know far more than me..... but even if the company "sent the payment on Tuesday" do we know whether it was processed by their bank on Tuesday or was it like some Building Socs where the processing stage starts the next day ie today - and was it sent by BACS, FP or even CHAPS.

Edit - then there is the sad point that all companies tell porkies about when they will pay you and try and delay payment every time - so even if you have been told this by your contact - the payment might even now be still in some credit control dept awaiting authorisation and indeed your company contact would genuinely be unaware of this.

iluvsaving

Faster Payments arrive within 2 hours. You can see transaction pending to go OUT but you cannot see transaction waiting to come in. :S

Where have you ever seen transactions waiting to come into an account before?

InsideInsurance

With our HSBC business account we can see payments that have gone by BACS (rather than faster payment) that are to be credited the next working day.

Was with Barclays business banking for the whole of 1 month before switching - it would have been 3 months but it took 2 months to open the damned account.

jasperconran

I agree with InsideInsurance, we have been with HSBC business banking before and you could always see pending transactions, ie, money coming and money going out of your account on a daily basis.

Im just surprised that Barclays dont do it!

jasperconran

ChiefGrasscutter wrote: »

Conversely


Edit - then there is the sad point that all companies tell porkies about when they will pay you and try and delay payment every time - so even if you have been told this by your contact - the payment might even now be still in some credit control dept awaiting authorisation and indeed your company contact would genuinely be unaware of this.

I do understand what you are saying but i am glad to say that this company in particular we have been doing work for them for over 20 years and have always been paid on time.

I rang barclays last night and was advised they were performing additional security checks due to being a new account. The money arrived early this morning:j