Nationwide SO's

jayjay21

Hi guys set up 2 SO's in branch for a tenner each to send money to my Lloyds accounts so I can do my switch to the Co op for the £100 joining reward.

Checked the balances this morning and sure enough £10 went into each, but they appeared as FPI's, is this correct?

Thanks

grumbler

What's 'FPI' and where did they appear?
Faster Payment ... something?
If appeared at Lloyds, then they cannot know if it was a SO or just a one-off Faster Payment.

jayjay21

It stands for 'Faster Payment Inwards'.

The Standing Order was set up to send £10 into 2 of my bank accounts, however it didn't appear as 'SO' on my Lloyds statements, I was just wondering how they usually appear as I'm trying to do a switch that requires 2 SO's.

YorkshireBoy

It doesn't matter what it says on your Lloyds statements/recent transactions.


It will be showing as a SO at Nationwide, and that's all that matters!

jayjay21

That's what I needed to hear!

Thanks, I'll proceed and try to obtain my £100 now!!

agrinnall

Standing Orders have all been sent through the Faster Payments system for several years now, so at the incoming end, as grumbler says, Lloyds will just mark them the same as any other received FP (I think they probably do know that they originated as SOs but haven't felt the need to specifically identify them as such on your statement).