Is there a minimum payment?

agrinnall

simax wrote: »

If a payment doesn't go by FP it will transact the next working day as per new guidelines.

Utter nonsense. The only electronic payment methods available to personal customers are FPS and CHAPS. FPS is guaranteed by end of next working day but generally happens within 2 hours (if both FIs are full members); CHAPS is guaranteed same day if the transaction is done before the cut off time. There is no alternative to FPS that would "transact the next working day".

Chrisblue1962

NowRetired wrote: »

I have to transfer a large amount of money to a friend's bank account but want to make a test payment first in case I get the details wrong.

What is the minimum payment I can transfer or is there no minimum, i.e. can I transfer 1p?

Both accounts are with BOS if it makes any difference.

Some of the responses have gone a bit off track...so, is there a minimum amount that can be paid via FPS as I too wish to "sweep up" (move) small amounts from four basic bank accounts into a savings account at the end of each pay month?

YorkshireBoy

Chrisblue1962 wrote: »

Some of the responses have gone a bit off track...so, is there a minimum amount that can be paid via FPS as I too wish to "sweep up" (move) small amounts from four basic bank accounts into a savings account at the end of each pay month?

Your question was (kind of) answered in the first reply over a year ago, but why not try and send 1p yourself?

Then come back and tell us if the first reply was wrong (with reference to your own banks, so we'd need to know which they are).

adindas

NowRetired wrote: »

I have to transfer a large amount of money to a friend's bank account but want to make a test payment first in case I get the details wrong.

What is the minimum payment I can transfer or is there no minimum, i.e. can I transfer 1p?

Both accounts are with BOS if it makes any difference.

I have tried 1p FPI/FPO and SO among the following accounts. LLoyds, Santander, HSBC, Baclays, Coop, Halifax, TSB. All have worked fine sofar. I do not have BOS account, so could not say.

I normally do this as a test payment to create a link and I will be using it for a larger amount next time.. ....

Chrisblue1962

Update:

Last night I successfully made a 74p transfer from Lloyds Bank to Co-operative Bank (they need every penny they can get! lol :rotfl:)I'm not sure what the absolute minimum is but my query has effectively been answered. Thank you for all your replies.