Nationwide to TSB faster payment issues today?

zerog

typistretired wrote: »

2%!!! You don't need to settle for that if you have not yet opened your limit of Bank of Scotland, TSB, Lloyds, Yorkshire or Clydsdale current accounts which are paying either 3% or 4% gross for the latter.

I just made another £10000 in the past 5 minutes so I don't really care about an extra £25 per year

suffolkboy

I transferred money this morning 10.30am from Nationwide Flexaccount to my Barclays current account. It is now 3.30pm and still has not arrived into the Barclays account. So much for faster payments!

colsten

The law requires that payments arrive by the end of the next business day ([STRIKE]Monday[/STRIKE] Tuesday in your case), subject to normal security checks. Although normally FPs are almost instant these days, your payment isn't overdue yet.

There is nothing untoward showing on the Nationwide service availability site:
http://www.nationwide.co.uk/support/ways-to-bank/service-availability

I can't find a similar web page for Barclays, so not sure they are running without problem.

Another possibility for a delay is the use of incorrect sort code/account number - are you certain you used the right data?

mozzy10

essexmate wrote: »

Perhaps they are trying to delay the run on the bank by the many moneysaving experts that are withdrawing their funds due to premature Flex Direct demotion to 1%

What does this mean?
Their website says the account pays 5% for 12 months?

BMN

colsten wrote: »

The law requires that payments arrive by the end of the next business day (Monday in your case), subject to normal security checks. Although normally FPs are almost instant these days, your payment isn't overdue yet.

Actually Tuesday in suffolkboy's case.

Archi_Bald

mozzy10 wrote: »

What does this mean?
Their website says the account pays 5% for 12 months?

essexmate's post is 12 months old and referred to specific actions from Nationwide at the time, so you can safely ignore it now. It's 5% for 12 months.

agrinnall

BMN wrote: »

Actually Tuesday in suffolkboy's case.

Thanks, saved me having to say it.

Although for anyone who doesn't understand why, payments made on Saturday and Sunday are regarded as being part of Monday's business day, so the next business day that colsten refers to is in fact Tuesday.