Bank Updates?

Luis-FlightManWithAPlan

Hi,I was wondering if someone could tell me when the bank updates your accounts? Notable Natwest. I was always told its at midnight every night and at the start of the working day.

Im asking because someone else recently had told me that there updated at any time,but any payment ive ever expected,including money being put into my account hasnt been there untill ive woken up the next day,any help would be appreciated!

Cheers

Dickieburd

The A+L updates overnight except for online transfers between current account and saver account both with A+L which are instant.

Royal Bank Of Scotland online transfers between RBS accounts, online payments and ATM and post office cash withdrawls are instant and show a true balance.
I can make an online payment to a company or another bank account from RBS and the payment is taken instantly and the new balance is displayed along with the transaction.

However, with A+L if I were to do the same, the online balance will show the same figure until the next working day when the transaction will appear on the statement. A+L also has an available balance as well as balance. So if you have a bad memory then do not use A+L as you may forget you paid something as it is not displayed on your online statement for that day and you may end up paying it again then find out next day it has been paid twice.

book12

I think the updates are instant for most things, especially depositing cash...

Jam555s

Normal BACS payments, salarys, standing orders etc go through between 1am and 3am give or take

Luis-FlightManWithAPlan

So if money was sent by bank transfer on the Friday,I should receive it between 1am and 3am on the monday? ( at least thats what im hoping!)

Dickieburd

Luis-FlightManWithAPlan wrote: »

So if money was sent by bank transfer on the Friday,I should receive it between 1am and 3am on the monday? ( at least thats what im hoping!)

If I sent money from the RBS to a different bank before 3.30pm the money would appear in the receiving bank on Tuesday. I find that it completes in 3 working days including the sending day.

If I did it from A+L or Halifax to another bank I find it appears in other bank on Wednesday. I find that it completes in 4 working days including the sending day.

So as far as I found on numerous occasions transferring from RBS is one working day quicker than from either A+L or Halifax.

Luis-FlightManWithAPlan

Hey Dickieburd thanks for the replys! Its being sent from a bank in the EU so im not sure what kinda bank its coming from. It was sent Friday,they told me it'd be here monday but I cant see that happeneing tbh!I think ill wait till Wednesday before looking into it again,think thats a good idea?

Dickieburd

I think that if you have not received it by close of business Wednesday then you should contact the sender to confirm details and chase it up.
It maybe possible that the sender has paid for a faster payment method which may explain why they said you would receive it next working day (Monday) from being sent on Friday. Another possibility is that the sender has checked your details and found your account is with the same bank so payments would be quicker.
Hope this helps.