FlexDirect pay in

agrinnall

chris_m wrote: »

Hehe, the fifth album would be appropriate too :rotfl:

Nice one... :j

Westie983

A non faster payment is sent via standing order, and can take three bank working days to be credited. This is mentioned when you make a payment via your online banking, there are also some sort code and account numbers who do not accept FP credits, so SO are used.

Faster payment is used when its credited to the beneficiary account within the two hour time frame, if it cant be confirmed that it will be 2 hours then it may take three bank working days this is no longer a FP transaction.

agrinnall

Please tell me which bank operates in this way? I am not aware of any, because it would be against the Payment Services Directive, and their UK implementation in the Payment Services Regulations 2009, to take 3 days to complete a payment. As you clearly know nothing about payment processing I strongly suggest that you refrain from posting any more nonsense about it in future.

http://www.paymentsuk.org.uk/policy/european-developments/payment-services-directive

Westie983

agrinnall wrote: »

Please tell me which bank operates in this way? I am not aware of any, because it would be against the Payment Services Directive, and their UK implementation in the Payment Services Regulations 2009, to take 3 days to complete a payment. As you clearly know nothing about payment processing I strongly suggest that you refrain from posting any more nonsense about it in future.

http://www.paymentsuk.org.uk/policy/european-developments/payment-services-directive

I didn't say it will take three days I said can and there are transactions that may take three days to be processed.

My original post to this thread was to say no need to use SO as you are able to use FP and no need to wait till the next day to send the payment back to the original bank.

I do have knowledge of payment processing but that makes no difference to the post on this thread about using FP over SO.

agrinnall

Westie983 wrote: »

I didn't say it will take three days I said can and there are transactions that may take three days to be processed. Yes there are, but none of them can be initiated by retail customers.

My original post to this thread was to say no need to use SO as you are able to use FP and no need to wait till the next day to send the payment back to the original bank. You did, and if you'd left it at that I'd have had no issue because that's exactly what I do. The problem is that the 'information' you gave in posts #5 and #13 was plain wrong.

I do have knowledge of payment processing Well, whatever knowledge you claim to have is clearly deficient but that makes no difference to the post on this thread about using FP over SO.

A little knowledge is a dangerous thing, a maxim shown to be true by your posts. If you don't like what I say then put me on ignore, but I will continue to correct you when I know what you have said is wrong.

Westie983

Its a public forum and everyone is entitled to their opinion, and to post as and when they want

For the record you can indeed send a payment to some credit cards which will be paid within three days rather then faster payment as they are unable to accept faster payments over a branch counters with the bank details on the back of the statement, initiated by any person who holds an account.

I stand by my original post regarding using FP rather then SO, as this is a quicker option rather then using SO the following day, and and this was the purpose of my post and it was indeed your post in #6 that has taken this thread off kilter.

agrinnall

Westie983 wrote: »

Its a public forum and everyone is entitled to their opinion, and to post as and when they want Indeed it is, and when the opinion posted is wrong it's the duty of people who know better to post facts in response rather than opinion.

For the record you can indeed send a payment to some credit cards which will be paid within three days rather then faster payment as they are unable to accept faster payments over a branch counters with the bank details on the back of the statement, initiated by any person who holds an account. This may be true, it's not something I would ever do, but has no relevance either to to OP's issue or to the incorrect statements you made in post #5. And is not initiated by the customer (which was the point I was making) but by branch staff.

I stand by my original post regarding using FP rather then SO, as this is a quicker option rather then using SO the following day, and and this was the purpose of my post and it was indeed your post in #6 that has taken this thread off kilter.

It was only taken off kilter because you started spouting nonsense. As I said in my last post, if you had left it at post #3 there would have been no need for me to correct you.

djpailo

http://www.fasterpayments.org.uk/about-us/benefits-faster-payments

Sometimes the receiving bank is unable to take the payment immediately, in which case the customer should be given a response indicating when they can expect the funds to reach the account. Reasons for this include an operational issue at the receiving bank or if the receiving account does not permit immediate posting of the payment.

So whilst it should be there within two hours, it might take a little longer.

One bank states that the faster payment should be two hours, but ti allow up to the close of the next business day:
http://www.halifax.co.uk/onlinebankinghelp/fasterpayments.asp

*Most Faster Payments will be received by the beneficiary within 2 hours, but you should allow up to close of business the next working day.

So just to be clear, a faster payment should take two hours. If it doesn't, it still remains a faster payment and you should receive it by the end of the next working day. If it hasn't processed by then, there is likely an issue with the payment. Faster payments can be initiated 24/7.

Standing Orders are a different type of payment transfer.