How come Lloyds TSB hold on to my money when I pay on line?

KRIKKIT_2

I bank with Lloyds TSB and also have a Lloyds TSB Credit card that I pay in full every month.
I do this by paying from my current account, on-line, using so-called "Faster Payments". Only it isn't. Lloyds TSB take FIVE DAYS to pay my Credit card account but they take the money from my current account instantly! Meanwhile I lose the benefit of that cash for five days while Lloyds hang on to it until they pay my card account.
Bear in mind this is one Lloyds account to another, yet if I pay some other bill even to a client in France, using "Faster Payments" it is paid within two hours, mostly instantly.
This is definately sharp practice, and I would say little short of fraud, by Lloyds.

Ben8282

This is nonsense. When I pay my LTSB credit card from my LTSB account the funds appear in the available balance during the course of the same working day and the payment is credited to my account when the system updates that evening.

unimaginative_user_name

Often the funds appear in the available balance before the actual transaction appears.

jonesMUFCforever

Same here too.

agrinnall

It's also not possible to pay 'a client in France' using FPS, unless said client has a UK bank account, in which case their location in France is irrelevant.

jonesMUFCforever

agrinnall wrote: »

It's also not possible to pay 'a client in France' using FPS, unless said client has a UK bank account, in which case their location in France is irrelevant.

Don't spoil OP's rant LOL

MABLE

KRIKKIT wrote: »

I bank with Lloyds TSB and also have a Lloyds TSB Credit card that I pay in full every month.
I do this by paying from my current account, on-line, using so-called "Faster Payments". Only it isn't. Lloyds TSB take FIVE DAYS to pay my Credit card account but they take the money from my current account instantly! Meanwhile I lose the benefit of that cash for five days while Lloyds hang on to it until they pay my card account.
Bear in mind this is one Lloyds account to another, yet if I pay some other bill even to a client in France, using "Faster Payments" it is paid within two hours, mostly instantly.
This is definately sharp practice, and I would say little short of fraud, by Lloyds.

Newbies. Dont you just love them!

Paul_the_Painter

Strangely have exactly the same arrangement. A LTSB current account and a LTSB credit card, which I pay off in full every month. In fact paid it Friday via faster payments. Balance updated the following day. Can't say if the available balance updated sooner as I enough"head room" on the credit card account too have never bothered to check.

Methinks the OP doth protest too much. Or there is a problem with the account, which may need addressing! But it is not a general LTSB problem.

sharpy2010

Hang on a minute! The OP is saying this is fraud?!?!?!?! We should be taking him very seriously.

I mean, its not as if the word fraud gets spouted in at least 15 ridiculous threads per day, where no fraud whatsoever has taken place, is it?!?!

lea_t88

Did you pay over the recent bank holiday? This may have taken a few days...

nuriel

KRIKKIT wrote: »

I do this by paying from my current account, on-line, using so-called "Faster Payments". Only it isn't. Lloyds TSB take FIVE DAYS to pay my Credit card account .

This is the same for me and I am/was not concerned . I can't remember if the money leaves my current account immediately but it definitely takes 3 to 5 days to reach the CC account, and they then send a text saying "We have applied your payment to your CC account" or something similar.

All other payments leave and arrive the same day unless they are heading abroad (3 - 5 days as well. No text though).

Nuriel