faster payments at weekends

joe134

Hi Guys, does the faster payment scheme only apply to working days?
I transferred £10k.( max) from Tesco to my Hsbc last night, 6.30pm, it said it should be in my Hsbc within 2 hours, but, it's not in yet, 16 hours later.
I also did £10 two hours ago, same thing, still nothing in Hsbc, but, gone from Tesco.
I have done numerous transfers before from Tesco, no problem?
Is it Hsbc not updating their a?cs?

bigadaj

Tesco are unusual in that they treat weekends as normal banking days, so your direct debits and standing orders go through on a Weekend when all other banks would wait until Monday.

I'd double, or triple, check the bank account details I'd submitted for the transfer and if correct check again on Monday morning.

I don't bank with HSBC but am pretty sure faster payments have gone though within a couple of hours on weekends when I've done it with other banks.

Also tesco banks online service can be patchy, so the problem could be at either end, I would guess it would be in there in the morning.

joe134

bigadaj wrote: »

Tesco are unusual in that they treat weekends as normal banking days, so your direct debits and standing orders go through on a Weekend when all other banks would wait until Monday.

I'd double, or triple, check the bank account details I'd submitted for the transfer and if correct check again on Monday morning.

I don't bank with HSBC but am pretty sure faster payments have gone though within a couple of hours on weekends when I've done it with other banks.

Also tesco banks online service can be patchy, so the problem could be at either end, I would guess it would be in there in the morning.

Thanks bigadaj, I will monitor it all day, as I want to move some more, but, not until this goes through. Re-checked my transfer details, that's why I re-did the £10 this morning.I reckon to have done weekend transfers at weekends with tesco before, with no hitch.
I have noticed Hsbc updating their A/cs at 10 am, in the past.???? when I've transferred monies.
No doubt it will turn up.:)
hsbc is a nominated A/c, so not a case of typo and it's usually instant transfer, both ways.:beer:

SuperAllyB

Normally instant, usually say within 2 hours but the Faster Payment Scheme allows until the end of the next working day.

So a payment made after close of business on a Friday counts as being made on Monday and technically has until the end of Tuesday to turn up.

Hopefully be sooner though.

YorkshireBoy

joe134 wrote: »

I also did £10 two hours ago, same thing, still nothing in Hsbc, but, gone from Tesco.
I have done numerous transfers before from Tesco, no problem?
Is it Hsbc not updating their a?cs?

The best 'test' would have been to send a payment to another nominated account, not the same one. Probably a bit late now though to get a true picture.

joe134

YorkshireBoy wrote: »

The best 'test' would have been to send a payment to another nominated account, not the same one. Probably a bit late now though to get a true picture.

Cheers YB, will do that, as my £10 sent this morning, hasn't arrived, so I will send another £10 and £10 to another nominated A/c.
edit.
just sent £10 from hsbc to tesco,, went instant into tesco a/c.?
sent £10 to tsb from tesco.not in yet;
see how they differ?:beer:

agrinnall

YorkshireBoy wrote: »

The best 'test' would have been to send a payment to another nominated account, not the same one. Probably a bit late now though to get a true picture.

It might give an indication but it's not really going to prove anything as any bank can take to the end of the next business day to complete the process, and as customers we have no way of knowing when they will do it or why.

badger09

Tesco might be running 'fraud' checks if the £10k xfer is out of your normal pattern, or if you've done a smaller test payment, followed by £10k:cool:

joe134

badger09 wrote: »

Tesco might be running 'fraud' checks if the £10k xfer is out of your normal pattern, or if you've done a smaller test payment, followed by £10k:cool:

Hi Badger, it's not out of the norm for me.but, still could be as you say?

the £10 to Tsb has not been received yet too.
looks like just waiting, even if until tomorrow.
Not relying on it immediatly.
:beer:

Graham1

If it is the first payment to that destination account then a delay is likely due to fraud checks. If it is the second or subsequent payment then it should show up within 2 hours. Some banks treat faster payments received over the weekend as value dated the subsequent Monday - but should still appear over the weekend.

joe134

update;;money just gone in guys.
thanks for advice.
they really shouldn't stipulate 2 hours, if they don't intend it?
just transferred more.£5k instant:beer::beer: