Missing Payment

Octoo

I've got a standard HSBC account which I've paid off £500 to my Post Office credit card.

HSBC are saying the payment has been sent and has left my account, Post Office cannot see the payment however. I have received a tracking reference from HSBC to confirm that the payment has been made and since reported this back to the Post Office. They are saying it could take as long as a week to look into the issue though - which is a long time when a lot of my money is now in limbo.

Has anyone ever experienced a problem like this? I'm very worried, can a payment just disappear like that?

grumbler

No, a payment can't disappear. All payments are traceable.

henm2

For payments from a bank account to a credit card you usually need to allow 3 working days for it to be credited to the credit card account.
By contrast payments from a bank account to another person's UK bank account using the faster payment service usually arrive within 2 hours.

bengal-stripe

Did you include your 16-digits account number as reference?

If you did not (or made a mistake in the number) the Post Office CC is unable to allocate the payment to the correct account and the money is hanging-around in a suspense account, until it gets traced eventually.

Armorica

It's not disappeared, it's probably sitting on a Post Office (or their bankers) suspense account somewhere.

Double-check the details were all correct - the sort-code, account number and your 16-digit credit card number would all need to match.

Did you enter the sort-code/account number for the Post Office yourself, or did you use a drop-down menu to select their credit card product (with the bank then auto-completing the details - apart from your 16 digit reference)

YorkshireBoy

henm2 wrote: »

For payments from a bank account to a credit card you usually need to allow 3 working days for it to be credited to the credit card account.

Usually?...more like never.

Because delaying such a payment would contravene the Payment Services Regulations, which state a payment has to arrive and be credited by the end of the next business day.

Gers

YorkshireBoy wrote: »

Usually?...more like never.

Because delaying such a payment would contravene the Payment Services Regulations, which state a payment has to arrive and be credited by the end of the next business day.

Oooh.. my payments from Lloyds current account to my Lloyds Mastercard never show online for at least three days.

grumbler

Gers wrote: »

Oooh.. my payments from Lloyds current account to my Lloyds Mastercard never show online for at least three days.

And what about the available balance?

Dobbibill

Gers wrote: »

Oooh.. my payments from Lloyds current account to my Lloyds Mastercard never show online for at least three days.

Next time you pay your CC check your available credit on your CC prior to making the payment. Log back in a few hours later and you will notice the available credit has altered in line with the payment you have made. It may be posted to your statement a few days later but your payment will have been received and credited to your account in line with PSR. Mine normally updates within 2 hours.

lee111s

Yep agree with above, just because you can't see the credit on your statement doesn't mean the credit hasn't yet been applied to the account. Much in the same way that the available balance of your current account reduces when you spend but transactions can take a few days to appear on the statement.

Atidi

Octoo wrote: »

I've got a standard HSBC account which I've paid off £500 to my Post Office credit card.

HSBC are saying the payment has been sent and has left my account, Post Office cannot see the payment however. I have received a tracking reference from HSBC to confirm that the payment has been made and since reported this back to the Post Office. They are saying it could take as long as a week to look into the issue though - which is a long time when a lot of my money is now in limbo.

Has anyone ever experienced a problem like this? I'm very worried, can a payment just disappear like that?

How are you "in limbo"? :huh:

You paid from an HSBC account. HSBC have given you confirmation where the money has gone.

You owed the Post Office the money, paid it, and it's now in the Post Office hands. I'm sure they will find it in one of their suspense accounts eventually.

If anyone is currently "in limbo", it's the post office.

Stop worrying.