Lloyds > First Direct Faster Payments

noh

Mr_Goodkat wrote: »

The OP does not want to MAKE a payment they want to RECEIVE a payment.


In your earlier post you said:
So your buyer can make the entire payment of £14,000 in one payment, it'll just take longer than a Faster Payment to clear.

That is totally incorrect, the buyer can make one payment for the entire amount of £14k by faster payment as their bank Lloyds allows this.


I am intrigued as to what payment method longer than a faster payment would be used to transfer this money in your argument in bold above?

First Direct have what they call a bill payment which has a value limit of £49999. It is in fact a faster payment that, if it exceeds £10k, is sent the next working day after, I assume, a fraud check of some kind.
Up to £10k goes via immediate FP. Between £10k and £49999 goes via FP on the next working day.