Co-Operative Bank and Faster Payments

SuiDreams

Hi, I have made 2 payments so far into my new Co Op Current account and both times the payments haven't been instant as expected.

The 1st one I sent about 9am on the morning and it didn't appear in my account until after 5pm
The 2nd I sent at about 8am this morning and it hasn't appear yet (although still within 2hour time scale so far).

All the other Banks I am with quote faster payments should be in recipient account within 2hrs, but when I queried the delay with co op they are stating faster payment time scales are between 2 hours and 1 day.

Is this delay normal with co op?

grumbler

SuiDreams wrote: »

All the other Banks I am with quote faster payments should be in recipient account within 2hrs...

Should be "normally", not guaranteed.

pmduk

I find faster payments to be a little slower into Co-op accounts, but never more than 30 minutes in my experience.

cheexy

Yes this has been my experience too. Good thing I am switching my account.

anoncol

My 20p tester took a good hour.

SuiDreams

Glad its not just me, transferred money still not showing up. Will be switching away as soon as incentive paid. I suppose its a good reason to provide to say that I'm switching due to payments into your accounts take longer than other banks.

Just find it odd that payments to them take longer than other accounts, and its a litrle frustrating.

badger09

I've had a Co-op account for over 40 years

Haven't noticed any delays in FP - money often arrives before I've had chance to log out of sending bank and into Co-op

SuiDreams

badger09 wrote: »

I've had a Co-op account for over 40 years

Haven't noticed any delays in FP - money often arrives before I've had chance to log out of sending bank and into Co-op

This is my experience with every other bank but not so with co op so far, money still nt there after 2 hours.

This morning sent 2 payments from FD one to Lloyds on to Co op. Logged out of FD and the Money was already in lloyds when I logged in, now 2hours later money still has not reached my Co Op account.

PasturesNew

I've used it just because that's how they do it, not because I had time constraints, so never checked how long it took.

What I do like about the Co-Op is being able to phone up and transfer up to £100k over the phone without any fuss, it's the same to transfer £1 as £100k. That was handy when I was moving money around to buy a house.

Unfortunately, my lifestyle means I'll never be doing it again

anoncol

badger09 wrote: »

I've had a Co-op account for over 40 years

Haven't noticed any delays in FP - money often arrives before I've had chance to log out of sending bank and into Co-op

SuiDreams wrote: »

This is my experience with every other bank but not so with co op so far, money still nt there after 2 hours.

This morning sent 2 payments from FD one to Lloyds on to Co op. Logged out of FD and the Money was already in lloyds when I logged in, now 2hours later money still has not reached my Co Op account.

Why do you both log out when you will be logging back into check its arrived? You can be logged into multiple websites at once in this day and age.

SuiDreams

anoncol wrote: »

Why do you both log out when you will be logging back into check its arrived? You can be logged into multiple websites at once in this day and age.

I always log out of an account when I no longer needs to be in it. Once I've sent payments from FD account I no longer need to use that log in so log back out again