Cashplus business ac payment transfer question

Melodyjames

Hi

This is probably a simple question but I can't find the answer on the net.

I transferred money online from my cashplus business account to my personal Santander account Thursday pm (after three) and it still hasn't cleared into my account at Santander yet, now Friday evening.

Does anyone know how long payments take to transfer and clear? It shows as having been transferred from cashplus at about 4pm today (Friday) despite having done it the previous day. I'm a little concerned now. This is the first time I've done it btw

Any help would be appreciated please.

Thank you

Melodyjames

Anyone? Lots of looks but no answer?

pmduk

What do cashplus say? 3pm may be after their cut-off point for the day. Are they even part of the faster payment scheme? If not you may be talking about a 2-3 day wait. Their website refers to a delay of 2 days for registering to use the service.

Melodyjames

It says faster payment when I transferred the payment, plus I have the upgraded account (Total Access). Not that prob means anything, it's just a lot of money that I transferred so I'm worried now.

Melodyjames

Also I only said after three because I thought that was the cut off time for banks?

pmduk

You're really best asking cashplus, they're not a mainstream bank and I'm not sure they've many business customers using this forum.

jsmith9156

I find that you need to do your transfers before 2pm for them to be auctioned the same day.
You should get two emails, one saying payment setup and one for payment processed.

Melodyjames

I transferred on Thursday evening, so I pretty much wrote that off anyway but it's now Sunday and it has yet to go in to my account. It was £5000 so I'm really worried now.

agrinnall

If their business day ends at 3 p.m. then the transaction date would have been Friday. The scheme rules say that the payment has to arrive by end of next business day, so that gives until end of Monday to get there.

jsmith9156

Melodyjames wrote: »

I transferred on Thursday evening, so I pretty much wrote that off anyway but it's now Sunday and it has yet to go in to my account. It was £5000 so I'm really worried now.

Have you had any emails at all from mycashplus regarding the transfer?

Jamo

Melodyjames

Yes there was. I've phoned them this morning to find out what's going on and they've told me it should clear by about two today. I wait with baited breath.