Bank transfer

Jmm

Hi
Hope someone can help. We had our drive done and agreed to pay the company by bank transfer. I sent £1 to make sure the details were correct which the man said he had received. After this i sent the balance due. I sent it at 12pm today (Saturday) and by 430pm the man told me he had not received it. I rang my bank and checked. They said fraud team might have stepped. She checked and said it was fine and should have been sent by the fps within 4hrs. She confirmed the 2nd transaction went to the same account as the £1. She said it was unusual but to tell him to keep checking. I am concerned the money has got lost in the digital translation. What do i do now? Is it just a weekend problem? What are my rights here? As far as myself and bank are concerned it has been processed.

Dobbibill

How much did you send?

Banks have daily limits.

Mr.Generous

daily limit is around £30k - I would bet money has hit the account by now.

teddysmum

If he is relying on checking online, some banks are slow over posting recent transactions. The Co-op is much slower than others at acknowledging my monthly round robin return and TSB doesn't post debit card sales on Friday or weekend until Monday (though money available does change).

Flobberchops

Faster Payments are only guaranteed to reach the recipient (barring the transaction being blocked or delayed deliberately by the bank) at close of business of the next working day. So, no real need to panic until Monday evening at latest.

Jmm

I sent 2900 which is unusual for my transactions which is why i thought maybe they had blocked it for those reasons. Thanks for the swift replies, i was hoping it might be a weekend sort of thing. Fingers crossed it heads in there on Monday!

Ben8282

Wait until Monday morning before you start to worry.

YorkshireBoy

Flobberchops wrote: »

Faster Payments are only guaranteed to reach the recipient (barring the transaction being blocked or delayed deliberately by the bank) at close of business of the next working day. So, no real need to panic until Monday evening at latest.

A payment request made on a non-business day is deemed to have been received the next working day, Monday, so "close of business of the next working day" will be Tuesday evening.

michele-p

We had this last weekend buying a car from a private buyer. Sent just under 10K from one account, and the rest from another. Then waited... And waited...

We didn't dare leave the house as the seller could have driven off with the car. We called the bank, my husband went to the bank. Eventually we got a call from the fraud department checking it was our transaction, and 20 mins later it finally showed in his account. Phew.

4 long hours sat outside a house 5 hours drive from home!

All because he didn't want cash.

Hopefully by now, or on Monday your money will arrive too.

PaulW922

The recipients bank may not update transactions over the weekend. Mine shows an increase in balance on Saturday and Sunday, but the line on the statement does not show until Monday. But it is odd that the recipient saw the £1 ok

Jmm

Thank you everyone for your replies. I am waiting until Monday/Tuesday before i start to worry too much now. It is unusual but im hoping its linked to the amount and the fact that it's a weekend