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what time will it debit?
Starting
Posts: 332 Forumite
If I schedule a bank transfer for tomorrow to another person's account, what time will the payment actually be debited from my account. I'm not talking about a Standing Order or Direct Debit. Is there a particular time that such a payment would be likely to be processed? This would be from a Halifax account.
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Usually the second you authorise it (if online). As a faster payment, it will be received within the hour, if not minute.0
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Usually the second you authorise it (if online). As a faster payment, it will be received within the hour, if not minute.
No. I mean if I set up a future payment, to leave my account tomorrow (ie 15th October) - what time will it debit? Would it be out of my account right after midnight or are these things usually processed at the start of the business day, 9am etc?0 -
If it is actually dated for tomorrow, it should leave between 3 and 4 amwhen the systems update, well this was how it a year ago or so, mind you, now it is on the same system as Lloyds, they might process them at the same time as Lloyds which can be from 11pm onwards tonight.I have numerous qualifications in Business and Finance, Accountancy, Health and Safety and am now studying Law.
Don't rely on anything I write as it may be wrong!!!0 -
Most banks systems already think it is the 15th, so if you make a payment for the 15th it will go now. I did one today from Natwest to Barclays, and then to Halifax, all went instantly, with the date of the 15th on my statementDebt free and staying that way! :beer:0
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Usually the second you authorise it (if online). As a faster payment, it will be received within the hour, if not minute.
not the question though - which relates to a payment that you say you want to go on a future date.
OK it will go as a faster payment when sent - but when will it be sent?
Don't know the answer though0 -
Scheduled payments by FP (including standing orders) are only processed 5 nights a week, Monday to Friday. If after midnight, then Tuesday to Saturday a.m.
To schedule an inter-bank payment for Monday, you would have had to do it before your bank's cut-off time on Friday afternoon/evening. Then it would go out overnight Fri/Sat and would be credited to the receiving account either Saturday morning or Monday morning, depending on the receiving bank. Banks that credit on Saturday don't do it again on Monday.
Having missed that boat, the earliest you can now schedule a payment for is Tuesday. That is, the next working day. In bank terms, Monday is already the current working day any time after Friday night, and you can't schedule a payment for later in the current working day."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
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