transfer betweeb same bank query?

Herbalus

One potential point of confusion is the difference between a transfer and a payment. Typically a transfer is between your own accounts within one institution, and a payment is to an account with another institution. Hence I can transfer money between my two Santander accounts, but would have to pay money from Santander to my account with First Direct.

Transfers are instant, and payments are not always instant.

Interestingly, I recently added a new payee and sent 50p to check I had the details correct before sending more money. Both were available with my friend instantly, despite reports saying that initial low payments could trigger bank alerts. That was within the same bank.

planteria

Santander say 2 hours, but should be instant...unless there is a delay as they think that there might be a problem. 2nd transfer onwards (if there are any) should certainly be instant. just be careful what you are wiring the money for:)

badger09

Herbalus wrote: »

One potential point of confusion is the difference between a transfer and a payment. Typically a transfer is between your own accounts within one institution, and a payment is to an account with another institution. Hence I can transfer money between my two Santander accounts, but would have to pay money from Santander to my account with First Direct.

Transfers are instant, and payments are not always instant.

Interestingly, I recently added a new payee and sent 50p to check I had the details correct before sending more money. Both were available with my friend instantly, despite reports saying that initial low payments could trigger bank alerts. That was within the same bank.

It is not usually the first small 'test' payment which is held up, but the second larger 'real' one

zagubov

Armorica wrote: »

It depends on the bank. HSBC will do instantly. While Halifax/Bank of Scotland merged years ago, they didn't merge IT systems for a very long time.

With Faster Payments, the very longest should now be 2 hours for any of the major banks but it comes down to whether payments are internal or whether even internal payments are sent through the banking sytems.

That's interesting. I had a bank account and a credit card with two building societies that were bought up by Santander. I can see my credit card account and its details when I visit my current account online. but I wonder whether the IT systems have fully integrated because there is no easy way I can just transfer money from my bank account to pay off my credit card. I have to physically walk into my nearest bank and they faff around with my debit card.

They also use the opportunity to ask me if I want a new type of credit card. I should have suggested I'd like one that was actually electronically connected in some way to my bank account so I could do stuff with it. I'm probably going to switch elsewhere as I don't need the frustration.

planteria

current account > credit card ought to be easy:think:

zagubov

planteria wrote: »

current account > credit card ought to be easy:think:

One was originally Alliance & Leicester and they other was Abbey. The formerly A and L website doesn't let you pay directly into the Abbey credit card. The site's pretty user-hostile about it.

I've various accounts with FD and they just seem better-organised about things like this.

mgdavid

can't you log on to Abbey, register the A&L account as a payment method, and 'pull' a payment from A&L into the Abbey card?
That's how Barclays/Barclaycard works, piece of cake.
(Afterthought - from what I read on here an awful lot of banks etc seem to be hopeless at exploiting technology.)

zagubov

mgdavid wrote: »

can't you log on to Abbey, register the A&L account as a payment method, and 'pull' a payment from A&L into the Abbey card?
That's how Barclays/Barclaycard works, piece of cake.
(Afterthought - from what I read on here an awful lot of banks etc seem to be hopeless at exploiting technology.)

I never had the option to open an online account for the Abbey card. I was surprised to see it appearing when I logged onto my A&L account. Got my hopes up too soon though as the accounts don't seem to talk to each other.

Actually it's coming back to me that setting up the Abbey card for telephone banking was a complete faff and the one time I had to sort a problem with it, it took ages to confirm who I was by phone.

It's more likely I'll reactivate my dormant bank account I've got at another bank and chuck away the credit card and close the current account. Life's too short for me to wait for the systems to integrate.