Weekend Payment

supermanjo

Hi,

I just realised that my payment is due by the 30th (Monday) if I send the full payment tomorrow (sat) or the 29th (sun) will it still go through for the 30th without missing payment?

Thanks!

DevilPigeon

Depends what it is, and how you choose to pay...

If it's a bill using online banking I'd suggest not, may be better to phone the company direct or pay on their own website... Even then it may not register in time, but it's your best chance.

Buzby

It all hinges on who the issuing bank is, and how you pay it. If you have online banking, and as a result have access to Fast PAyment Transfer, it can be made instantaneously - EVEN over a weekend.

The issue is more with the CC company, if a 'real' bank then the payment is credited immediately. But id an intermediary, that uses a different bank, it can take a few days before the funds actually reach your account. In which case, phoning on monday with a card payment gets round this, as DevilPigeon mentions.

YorkshireBoy

DevilPigeon wrote: »

If it's a bill using online banking I'd suggest not, may be better to phone the company direct or pay on their own website... Even then it may not register in time, but it's your best chance.

I disagree.

The best chance is an FP from your bank account. The PSR's dictate a payment made this way must be received by the end of the next working day. Technically this would be Tuesday, because they are allowed not to send it until Monday.

However, many banks will send the money now (ie 22:20 Friday) with a timestamp of Monday. Your CC provider will receive the funds Monday, and update overnight Monday night showing the transaction on Tuesday but with an entry date of Monday.

Debit card payments, whether made over the phone or via the CC providers website generally take 2 working days to clear (MBNA take 3 working days if the payment is made this way after 4.30pm Friday).

In summary, make an FP now.

...and then set up a DD so you don't forget in future!

supermanjo

Sorry for not making it clearer.

Money will be from Barclays to Barclaycard.

I know fast payment exists I was just wondering if it worked over the weekend. So if I phone up on Sunday and ask to transfer some money over via FPT to clear my balance, it happens that second?

PS: When Barclaycard says "payment due by" does it mean the money must reach them by 00:01 on the 30th or you have until bank closing 15:30 to make the payment?

So if for example I forgot to make the payment and realise it was due on that day, do I have until the end of the bank hours to make payment?

Thanks!

supermanjo

YorkshireBoy wrote: »

...In summary, make an FP now.

If I have to make the payment now, that means I'll have to make it from my Lloyds TSB account, not from my barclays. I was going to go to barclays tommorow to put the money in, but if you're saying it needs doing now then I'll have to pay through Lloyds.

HOWEVER, seen as I'll be paying through another bank, will this not slow the process down?

YorkshireBoy

supermanjo wrote: »

If I have to make the payment now, that means I'll have to make it from my Lloyds TSB account, not from my barclays. I was going to go to barclays tommorow to put the money in, but if you're saying it needs doing now then I'll have to pay through Lloyds.

By "now" I meant as soon as possible. However, by initiating the payment on 'Friday' it may help your cause if the payment doesn't arrive Monday.

But why go to Barclays tomorrow? Just FP the money there from LTSB now and save your petrol!

HOWEVER, seen as I'll be paying through another bank, will this not slow the process down?

Shouldn't do, but then I don't have a Barclays current account (even though I have 13 current accounts!) so don't know their workings on a weekend.

Anthorn

How long is a piece of string? It all depends on how long it takes for the issuing bank to send the money and how long it takes for the receiving bank to put it onto their system. Typically it's 3 - 5 working days (Monday - Friday) with the final update of the week being after midnight Friday applying received funds on a Saturday.

A Faster Payment on Monday is your best bet which should put the money into the account the same day assuming that Barclaycard accept Faster Payments.

callum9999

Anthorn wrote: »

How long is a piece of string? It all depends on how long it takes for the issuing bank to send the money and how long it takes for the receiving bank to put it onto their system. Typically it's 3 - 5 working days (Monday - Friday) with the final update of the week being after midnight Friday applying received funds on a Saturday.

A Faster Payment on Monday is your best bet which should put the money into the account the same day assuming that Barclaycard accept Faster Payments.

How could a faster payment in Monday possibly be preferential to a faster payment right now? I agree that it's likely sending one now would "officially" arrive the same time it did if you sent it Monday, but if there does end up being a problem, sending the payment on Friday - or now Saturday - makes them look better to the agent who then decides whether they should refund any late/default fees.

flowerpots

supermanjo wrote: »

Sorry for not making it clearer.

Money will be from Barclays to Barclaycard.

I know fast payment exists I was just wondering if it worked over the weekend. So if I phone up on Sunday and ask to transfer some money over via FPT to clear my balance, it happens that second?

PS: When Barclaycard says "payment due by" does it mean the money must reach them by 00:01 on the 30th or you have until bank closing 15:30 to make the payment?

So if for example I forgot to make the payment and realise it was due on that day, do I have until the end of the bank hours to make payment?

Thanks!

If you pay Barclaycard on Monday 30th from a Barclays account it should debit your account and credit Barclaycard the same day. If you were paying from any other bank account it would take two working.

flowerpots

6.30pm is Barclays cut of. Anything paid after that time will not be processed until the next working day.