Natwest Faster Payments over Bank Holiday Weekend?

michaels

I transferred some money by FP to my Natwest savings AC with the intention of moving it into my ISA. It arrived within a few hours but now if I try and make the internal transfer the only date I can use is 2nd April so I thought I woud move the money back to my offset and do the transfer on the 2nd instead but again I am not it seems able to transfer the money out immediately by FP but instead can not choose a date before the 2nd?

So my question is is do Natwest not support FP out when the banks are closed? Every other bank I have accounts with will allow money to be moved instantly (even if sometimes the effective withdrawal date is not till the next working day)

YorkshireBoy

You may find that, in banking terms, today is Tuesday 2nd April...the next bank working day

Try moving £1 back out. You may find it goes (and arrives) instantly, yet is date-stamped the 2nd April. Then bring it back again on Tuesday.

dalesrider

Holidays make no diffrence to faster payments.

What the issue maybe that you are making a payment to a ISA and that may require manual action to transfer. Hence the date of the 2nd.
I would be careful leaving it, as you may soon find all the slots used up by the 6th.

212

I sent a faster payment to myself (to a current a/c) earlier today from Natwest Online - was pre-filled as 2nd April, but it arrived instantly. It's just any manual stuff that may be an issue.

The_pc_tech

Quite normal to see that stuff on Nstwest/RBS

zerog

The Tuesday after Easter Monday is 120 hours long, for Lloyds group and (it seems) Natwest.

michaels

212 wrote: »

I sent a faster payment to myself (to a current a/c) earlier today from Natwest Online - was pre-filled as 2nd April, but it arrived instantly. It's just any manual stuff that may be an issue.

Ok - but:
1) Suppose I actually wanted the payment to go on 2nd rather than now
2) I couldn't see anything on screen that indicated that I was requesting a FP and not a payment for Tuesday...

The_pc_tech

You don't have a choice in the matter, if the sending and receiving accounts support it it WILL be sent by faster payments.

Natwest/RBS show any pending payments due to go on Monday on Friday evening.

chambta

It will show the next working day as the date but will go straight away as a FP.

agrinnall

dalesrider wrote: »

What the issue maybe that you are making a payment to a ISA and that may require manual action to transfer. Hence the date of the 2nd.
I would be careful leaving it, as you may soon find all the slots used up by the 6th.

It's not the payment to the ISA (which is an internal transfer not FP) that the OP is questioning, it's moving the money back out of the savings account to wherever it came from in the first place.

I'd agree with chambta that it will happen immediately although the posting date will be the 2nd.

It may be a bit late but I'd ask the OP why bother to transfer it back for a couple of days then do the whole process again on Tuesday? You might lose a small amount in interest but at least you would be sure that the money was in the right bank for you to be able to get your ISA funded.[My supplementary question would be why use NatWest for an ISA when there are better rates elsewhere, but if it's a this year ISA that you opened earlier in the year you may not have much choice].