Money transfers from Natwest to Halifax

Nemesis28

Hi there,

I was wondering if anyone could offer some advice as to how long it would take to transfer money from a Natwest account to a Halifax account. The money was supposedly transferred in a Natwest branch last Wednesday but still hasn't cleared in my Halifax account. Is this normal??

Would appreciate any advice! Thanks

MoneySaverLog

Assuming it went by faster payment maximum of 2 hours

agrinnall

There is no payment method that takes that long if everything has gone well, so something has gone wrong. The first two things that come to mind are:

1) You entered the Halifax account details incorrectly and the money has either gone to someone else's account (bad) or is in a suspense account at Halifax (not so bad). If this has happened then you need to get NatWest to trace the payment so that it can be recovered.

2) It's been caught up in some sort of money laundering or security check. It seems a bit of a long time for that but it may not be possible for either bank to tell you if that is what's happening.

Actually, having re-read the OP, I suspect the NatWest account belongs to someone else, in which case they would have to initiate the trace in 1). However, that then brings reason 3 to mind:

3) The other person lied to you and hasn't done the transfer at all.

lancashirelassie

I got this problem at the mo with LLoyds transferring to my Nationwide acct. Checked with my payer the money is showing not available to him as though partway through the transaction. That too was done last wednesday. Still not there yet will have to call my bank. GRR

Nemesis28

Thanks to everyone who replied!

I was beginning to suspect it had been too long and I am the Halifax account. My boyfriend has the Natwest account and was due to transfer money to my account for his share in bills and rental deposit but the old fashioned 3-5 business days was mentioned which would make it tomorrow at the very latest so will keep some faith and worry tomorrow.

Thanks

Dr_Cuckoo3

BACS sent on a Wednesday would arrive on Friday (or Monday if instigated after the cut-off time)

Most people use faster payments and this means that the "payee" is listed in their list of payees unless the account holder opts out - so you may wish to check this and ask for a 1p payment to test for any problems

Most people would send a faster payment using internet banking - anything else is unusual

Using Paypal or Western Union would be an unusual way of performing the transfer when faster payments can be executed within minutes - visiting a branch to perform the transaction is backwards too

I don't think Nat West offer a payment to other people in branch and other banks which do offer this service eg Santander , Metro Bank will send the funds using faster payments

agrinnall

The only payment methods between UK banks available to bank retail account holders now are cheque, FPS and CHAPS, there is no option to use the old BACS system any more.

opinions4u

Check you've used the right sort code and account number.