Lloyds TSB Delay in showing faster payments

typistretired

Perhaps I've been spoilt by First Direct, Santander and Natwest by faster payments showing immediately. Even Nationwide and Coventry BS are pretty quick. But both BOS and Lloyds TSB seem to have a delay in showing faster payments. The other week I transferred £1 as a test payment to BOS from First Direct and it showed immediately. Decided it was okay to move £4999 then, but despite going by faster payment it did not appear in BOS account until the next day.
Today I did the same with my newly opened Lloyd's TBS account, the test £1 was there immediately but the £4999 payment is not showing and it is now after 5pm, five hours after the payment was sent. Going to be a long exercise transferring £1000 in and out of accounts if it takes so long to show up.

Gromitt

I don't think it's TSB, but rather than the sending bank. Typically sending a small payment followed by a large one often gets delayed.

When I send 1K from FD to TSB, its always there by the time I logout out of FD and into TSB. However if I send multiple payments, then some might be missing unless I leave it a few hours or maybe until the next morning.

typistretired

Okay I'll make a note of that, but in the past I have made several payments on the same day from first direct to the other banks I mentioned and they all arrived instantly.

Hominu

£1 followed by £4999 or another largish transfer to a new payee will typically trip up fraud sensors and require additional checks to be carried out. The same will happen if you made the transfer from Santander. First Direct will sometimes tell you "This payment can not be made today, it will be made tomorrow. Is that ok?" or words to that effect. The difference being that you can ring up and 'push' the transfer through.

Once you've done it a few times the transfers will start showing up instantly.

innovate

Agree with the other posters.

Lloyds are no worse (or better) than the others mentioned when it comes to FPs. All of them can take until the end of the next business day, anyway, without breaking any rules or laws. This allows them to make any checks they feel appropriate.

typistretired

All the transfers have now completed to both Lloyds Vantage accounts opened. Going to ring them now about setting up a third. First Direct when I made the payment just showed the message that the payment had been sent but may not show in other account until next working day. Mad really that current accounts are paying more than savings account even if they are limited amounts.

marlewuk

lloyds & bos are part of same group so it wouldnt surprise me if they take around the same amount of time to show

pjread

LTSB shows the inward payment almost immediately, but doesn't update the account balance for a while.

Check the actual statement online and see if you can see the incoming FP. If so, and you really want to update the balance, do an internal transfer on the account and it'll immediately update.

typistretired

pjread wrote: »

LTSB shows the inward payment almost immediately, but doesn't update the account balance for a while.

Check the actual statement online and see if you can see the incoming FP. If so, and you really want to update the balance, do an internal transfer on the account and it'll immediately update.

Thank you that is handy information to know never look for any inward payments normally as FD do not show them. Opened a 3rd vantage last night and moved a £1 to it from First Direct and it took an hour. Just moved the other £4999 and is not showing will do what you advise to update the balance. At the same time as I moved the £4999 to Lloydstsb I sent a similar amount to Natwest and it was there instantly.

typistretired

Did what you advised about making an internal transfer between accounts it updated with the transfer amount but not the external payment. This message was showing when I clicked the account name.

"Sorry, but we can't show you some recent transactions as your name wasn't on the account when these transactions were processed."

typistretired

Just rang Lloydstsb and they told I was getting that message as it was under 24 hours since the account was opened.