Faster Payment Service at Weekends.

noh

It is not the FP system that is at fault.
NatWest credit card services receive the payment into their account immediately.
They then take up to two working days to show it on your credit card statement but date the payment the day it was received.
Read the link I posted above.

pmduk

artbaron wrote: »

but the upshot is I've made around a dozen FP transfers, mostly from NatWest, and the average time taken is around two working days with only one (from memory) taking less than 24 hours.

Like you, I've made many FP transfers between banks, but only once had to wait more than 2 hours. It was explained to me that lunchtime on the last Friday of the month is a peak period for business. Even then it only took 3.5 hours.

pqrdef

xkpa wrote: »

Actually I am experiencing delays with Nationwide Faster Payments few times. I send money from Barclays to Nationwide for example on Saturday, Barclays shows that the transaction is marked on next working day (Monday), but the money are not in my Nationwide account. Sometimes they arrive on Sunday afternoon, sometimes on Monday. So clearly there is some glitch with Faster Payments some times.

If the money appears in your available balance, it's arrived. With savings accounts at building societies, including Nationwide, it's quite normal that the transaction doesn't appear straight away - they just don't keep their websites up to date in real time. At Nationwide this happens even with internal transfers from a current account to a savings account - the transaction doesn't show up at the savings end.

Also, there are two ways of sending money to a savings account at Nationwide - using the BACS account number, if there is one, or using the collection account (33333334) and roll number. If you go the collection account route, your money will sit in the collection account until they process it.

rb10

pqrdef wrote: »

If the money appears in your available balance, it's arrived. With savings accounts at building societies, including Nationwide, it's quite normal that the transaction doesn't appear straight away - they just don't keep their websites up to date in real time. At Nationwide this happens even with internal transfers from a current account to a savings account - the transaction doesn't show up at the savings end.

Also, there are two ways of sending money to a savings account at Nationwide - using the BACS account number, if there is one, or using the collection account (33333334) and roll number. If you go the collection account route, your money will sit in the collection account until they process it.

Are you sure? Transfers to Nationwide savings accounts that I've done have always been instant.

And with the collection account piece, you do realise that the process is automated? So it'll sit in the collection account for a fraction of a millisecond before being put into your account.

You may be thinking of those building societies that are not Clearers, and who use a third party to process payments.

pqrdef

artbaron wrote: »

I had a look but the CC payments don't go back far enough so I don't know if the date was backdated. Not sure that backdating is any sort of solution, either. Either the money's there to use or it's not, and as the available balance didn't alter, it wasn't.

The back of my NatWest credit card statement assures me that money sent by online banking will be added to my available balance within 2 hours, and money sent by FP from another bank will be added to my available balance within 2 hours of receipt.

Haven't actually tried it, because I pay by Direct Debit.