Money not getting to Nationwide accounts!

Midzone

xxdeebeexx wrote: »

Hi I did my Flexdirect funding this morning in order to qualify for the 5% interest and 7 hours on, it still hasn't reached my account.


I have phoned the helpline and have been told that there is a problem with the system and that the credits are 'queuing' but might not reach accounts until Monday some 36 to 48 hours time!


dx

Same here transferred cash to Nationwide this afternoon - just checked and the funds have still not arrived. Nationwide website is now saying:

'We’re sorry to have to tell you that there are currently delays to all outgoing and incoming Faster Payments. Payments are being queued and will be processed as soon as possible. We apologise for any inconvenience this will cause you.'

xxdeebeexx

Well, the money has finally arrived in my Flexdirect account.


( I am delighted that I didn't have to wait until Tuesday before it reappeared)


dx

Midzone

xxdeebeexx wrote: »

Well, the money has finally arrived in my Flexdirect account.


( I am delighted that I didn't have to wait until Tuesday before it reappeared)


dx

Must be a big back log of transactions - I'm still waiting

xxdeebeexx

Midzone wrote: »

'We’re sorry to have to tell you that there are currently delays to all outgoing and incoming Faster Payments. Payments are being queued and will be processed as soon as possible. We apologise for any inconvenience this will cause you.'

Ah I didn't see that on the website. Thanks


dx

Desperate_Housewife_2-2

thanks for posting this as I have done the same for the first time and been checking often and no money gone in yet, I thought I had put the wrong details in!

xxdeebeexx

Midzone wrote: »

Must be a big back log of transactions - I'm still waiting

Just to let you know that my payment has taken over 9 hours to arrive. It might speed up now that some transactions have been completed.


dx

Midzone

xxdeebeexx wrote: »

Just to let you know that my payment has taken over 9 hours to arrive. It might speed up now that some transactions have been completed.


dx

And its arrived

agrinnall

innovate wrote: »

The Faster Payments website suggests that xxdeebeexx is most right of all the posters! They are advertising that the faster payments system is available on a 24x7 basis 365 days a year and that payments "must arrive within 2 hours". No mention of weekends and working days.


http://www.fasterpayments.org.uk/

http://www.fasterpayments.org.uk/about-us/benefits-faster-payments

I wonder what the truth is since they don't seem to be telling it.

Interesting. You're right that the second link does indeed say that, but it must be a mistake as that has never been the case. While 2 hours was always the target there's never been any "must" about it.

In the entry for January 2012 on this page http://www.fasterpayments.org.uk/about-us/historytimeline it states that the PSD requires payments to "reach the beneficiary account no later than the day after the remitter account being debited" (although even that isn't strictly correct, as it should say business day rather than day).

EarthBoy

innovate wrote: »

The Faster Payments website suggests that xxdeebeexx is most right of all the posters! They are advertising that the faster payments system is available on a 24x7 basis 365 days a year and that payments "must arrive within 2 hours". No mention of weekends and working days.


http://www.fasterpayments.org.uk/

http://www.fasterpayments.org.uk/about-us/benefits-faster-payments

I wonder what the truth is since they don't seem to be telling it.

The rules of the faster payment system are not the same as the law. The law is the EU Payment Services Directive which specifies "by the end of the next business day", although faster payments usually operate much quicker than the legal deadline.

pmduk

The moral to be learned from this thread is not to leave transfers til the last minute if interest/bonus payments depend upon the money being received.