bank payment from someone elses account

renobabeslab

the payment is made automatically, i think from her account its a standing order or direct debit, (not sure), it shows up on my statement as a "bank credit", she banks with natwest, i bank with nationwide

agrinnall

renobabeslab wrote: »

the payment is made automatically, i think from her account its a standing order or direct debit, (not sure), it shows up on my statement as a "bank credit", she banks with natwest, i bank with nationwide

Well that was my other thought, that it might be a SO. In that case as it is probably set up to be weekly on a Friday then I'm pretty sure NatWest won't process it until the early hours of Tuesday morning, so it should be in your Nationwide account by about 6 a.m. on Tuesday. I don't use SOs myself any more but I don't think it will be showing as having left her account yet, although it might have been earmarked so could have reduced her available balance.

renobabeslab

many thanks for that, will see what happens on tuesday, have a good easter :jxx

agrinnall

YorkshireBoy wrote: »

Indeed. The PSRs, as a SI, are deligated, or secondary, legislation, sitting under the Financial Services and Markets Act 2000.It should also say '(bank) working day', not 'day'.

Yes, looking at the FPS page more closely it seems to be an attempt to put the scheme rules (which the banks will have a contractual obligation to, and which one would hope are fully compliant with the PSRs) into layman's language, but not terribly successfully if you want accurate details.

Buzby

Considering I make AND receive payments to/from disparate accounts on Sat & Sun, the whole premise of a 'business day' is nonsensical. The need to remove all ambiguity, rather than the 'who knows' situation we find ourselves in!

innovate

If you are you saying because you make and receive payments at weekends, the law has to be changed, you should be speaking to the lawmakers.

Until you can convince them and the industry that costly enhancements to the current implementations would be beneficial, the law stands as is and is very clear and unambiguous: the requirement is that funds arrive by end of the next business day.

jonesMUFCforever

If it is a standing order due to have debited an account on a bank holiday IT WILL be debited on Tuesday (the next available bank working day).
As a faster payment it should rech the OP's account by Tuesday.