Faster payments slow between FD and Santander?

takewhatyoucan

Buzby wrote: »

Nationwide isn't a bank in the accepted sense. They use a third party to process their payments

Not true in most cases. Nationwide is a member of BACS and FP and they process payments themselves. They use a third party for, e.g. CHAPS.

dalesrider

adindas wrote: »

if this is the first time you do FPO with your Santander AC to external ac there is no wonder there will be a delay. .

Why?

Santander use one time code when you set up a new payment.
Set up 3 yesterday from new 123 acc and all arrived in the time it took to login to the other acc.
So your above comment does not hold water in my experiance.

mumbles87

Think the OP biggest mistake here was having a santander bank account full stop! FD are one of the best banks around.. I personally have barclays and halifax. with nationwide for my golf. wouldnt touch santander even if they paid me

10_66

adindas wrote: »

if this is the first time you do FPO with your Santander AC to external ac there is no wonder there will be a delay...

dalesrider wrote: »

Why?

Santander use one time code when you set up a new payment.
Set up 3 yesterday from new 123 acc and all arrived in the time it took to login to the other acc.
So your above comment does not hold water in my experiance.

Santander operate a system where a first payment for a newly set up payee will go straight away, but there will be a delay on the second payment made to the same payee (apparently due to security checks). Payments thereafter (ie third payments etc, and after the second payment security checks are completed) should then go immediately, providing they're within their limits.

artbaron

artbaron wrote: »

You're right, it is showing in the "Available balance" (plus 1p for some reason, but I guess it's a rounding error).

Actually I was wrong, it didn't show as available balance. So in summary, I made the transfer Friday evening and it appeared Tuesday morning. This can be accounted for by the 5pm cut-off and the "night after the next working day", but yesterday at 10am I transferred some money from a savings account to my current account and guess what? It still hasn't arrived despite the blurb saying "usually two hours, otherwise overnight." It really is beyond pathetic.

cranston

I transferred £1 between Santander and my bank to test it out, went almost instantly. Then sent £4000 minutes after, now still hasn't reached my account 10 hrs later-checked at 3.30 in branch they said nothing they could do it could take up to 24hrs! I then phoned the Santander online peope who said 'yes its security', they took me through security (they said the branch could have done this!) and said it would go more or less straight away. Now 2hrs later...still no show. I've transferred another £1.00 and thats overtaken the £4000 and is in my account, so the details are fine. They tell me not to worry it will get there in the end! I cetainly hope so, £4000 is a lot of money for a pensioner. So beware Santander Faster payments, never ever had this trouble with any other bank or ISA provider.

innovate

This is a well known bugbear with Santander. They will stay withing the law and get the money to its destination within 24 hours but it is mildly (!) annoying in this day and age, when all other banks can get it there within minutes, if not seconds, now. I think we should start complaining to the Santander UK CEO, Ana Botin because none of her CS folks are listening. I think the email is ceo at santander dot co dot uk (forum software doesn't like proper CEO email addresses for some reason).

BMN

cranston wrote: »

I transferred £1 between Santander and my bank to test it out, went almost instantly. Then sent £4000 minutes after, now still hasn't reached my account 10 hrs later-checked at 3.30 in branch they said nothing they could do it could take up to 24hrs! I then phoned the Santander online peope who said 'yes its security', they took me through security (they said the branch could have done this!) and said it would go more or less straight away. Now 2hrs later...still no show. I've transferred another £1.00 and thats overtaken the £4000 and is in my account, so the details are fine. They tell me not to worry it will get there in the end! I cetainly hope so, £4000 is a lot of money for a pensioner. So beware Santander Faster payments, never ever had this trouble with any other bank or ISA provider.

Well done for doing the sensible thing and sending a £1 test payment.

According to others on the forum, it's usual for a 2nd payment which is for a more significant amount to take longer.

Legally your payment has until close of business the following working day to reach its destination and I'm sure that it will!

(EDIT: Oops beaten to it)