Birmingham & Midshires constant delayed Faster Payment

philng

Really inconvenient processed a FP transfer yesterday but still not received at account. Checked on B & M Online & says not due to be processed until Monday 16/11. Really poor service.
Seems to happen every time I do a B & M FP-Other sites are almost instant.

MarkFromCornwall

Transfers out, if instructed on a working day morning, seem to go late afternoon. I guess there is some cut-off time on a working day after which they go next day. If you miss that cut-off time on a Friday then it goes on Monday.

I find it annoying too. I guess it has something to do with B&M's origins in the building society world. If you want fast Faster Payments then use a bank.

alanq

MarkFromMullion wrote: »

If you want fast Faster Payments then use a bank.

BM origins were as a building society but as its web site says "Birmingham Midshires is a division of Bank of Scotland plc".

G_M

and all the Faster Payment transfers are sent to Lloyds for processing, hence the extra timeframe.

Most BS accounts are the same, as are Yorkshire/Clydsdale Banks.

YorkshireBoy

G_M wrote: »

and all the Faster Payment transfers are sent to Lloyds for processing, hence the extra timeframe.

Most BS accounts are the same, as are Yorkshire/Clydsdale Banks.

Could you elaborate on your experience with these two, because any FPs I initiate with YB are (almost) instant.

colsten

BM T&Cs describe how long withdrawals will take. See clause 6 http://www.birminghammidshires.co.uk/documents/public/tandc_041213.pdf

Thrugelmir

alanq wrote: »

BM origins were as a building society but as its web site says "Birmingham Midshires is a division of Bank of Scotland plc".

Computer systems will be legacy and unlikely to have been updated to cope with FP.

Eco_Miser

G_M wrote: »

Most BS accounts are the same, as are Yorkshire/Clydsdale Banks.

My YB Faster payments have arrived by the time I log out of YB and into the destination bank.

Sand_castle

I have found this to be the case with an number of savings providers - personally I do not think these providers should be saying that they offer a faster payment service as it is not what I expect from the definition of faster payment!

eskbanker

Sand_castle wrote: »

I have found this to be the case with an number of savings providers - personally I do not think these providers should be saying that they offer a faster payment service as it is not what I expect from the definition of faster payment!

Which definition of faster payments are you using? The one in the Payment Services Regulations says end of the next business day, which BM and others comply with....