Faster Payments to Nationwide - delay?

jpb77

On the understanding FPs take up to 2 hours for the recipient to receive the funds. The funds have left Santander 2 hours 30 mins ago to Nationwide and both sort codes are FP enabled according to the payments council website and the funds are well with in the sending limit of Santander.

On Santander on the realtime statement it says payment made via FASTER PAYMENTS.

Now, is it because the Nationwide website takes a while to update? Is NW internet banking in realtime? Or is there a delay? OR is Santander being awkward and being slow making the payment?

All account details have been tripled checked and are correct before posting this.

Thanks

pcombo

hmm nationwide maybe like Cahoot.

Cahoot send work in payment batches i.e

Batch 1 is sent at 7AM, that would be received at 8am.
Batch 2 is sent at 10AM that would be received at 11am
Batch 3 is sent at 2PM that would be received at 3pm
Batch 4 is sent at 4PM and this is the last batch of the day which is received at 5pm.

Any payments sent after to a cahoot account after 5pm is credited at 8am the next day.

Im not sure if nationwide work like this, but just given you the idea of how faster payments can work.

Very annoying system cahoot use!!!

Gromitt

Your Nationwide "Available Balance" should update within minutes, but the transaction can sometimes take until the end of the next working day. You can spend the money (or transfer it elsewhere) as soon as it shows in your "Available Balance".

jpb77

Gromitt wrote: »

Your Nationwide "Available Balance" should update within minutes, but the transaction can sometimes take until the end of the next working day. You can spend the money (or transfer it elsewhere) as soon as it shows in your "Available Balance".

No Nationwide Available Balance has not been updated yet! Very odd - I wonder if Santander are being slow!?

innovate

jpb77 wrote: »

On the understanding FPs take up to 2 hours for the recipient to receive the funds.

The committed arrival time is "by the end of the next business day". The fact that many FPs are literally instant is neither here nor there.

If you make your payments inside "normal" UK business hours (8am to 5pm, 9am to 5pm, 9am to 6pm, whatever the banks involved consider "normal UK business hours"), you stand a fair chance that your payment arrives almost instantly.

If you make your payment outside those 'normal' hours, and/or if there is a communication problem between the sending and receiving bank, things might take a few hours more. Don't fret, if you have used the correct sort code and account number, if you had cleared funds, and if your sending and/or receiving banks didn't think your payment was unusual, your payment will arrive ok before long, i.e. before the end of the next business day.

jpb77

Money arrived around 11am finally

paulofessex

Not sure if it has been posted before. There is a sort code checker that enables you to check that the sort code you are making payments to accept Faster Payments. Heres the Link