Confused about bloody Natwest!

calster10

My friend went to a Natwest Bank Branch to ensure a large sum of £7500 was tranferred from his Natwest account to my Santander 123 current account and did so with a member of staff electronically. After it was done he received an email from the local branch saying "the funds usually arrive within the recipients account today or within 2 or 3 days". It was sent on Friday around 1pm and he today (monday) received an email saying it will take 2-3 working days starting from today. Why the delay from friday? Does anyone know why is this?

anselld

No idea! £7,500 is well under the Faster Payments limit of £20,000 so should have been sent straight away via FP, usually instant or next working day at very latest (if held for security checks).

calster10

anselld wrote: »

No idea! £7,500 is well under the Faster Payments limit of £20,000 so should have been sent straight away via FP, usually instant or next working day at very latest (if held for security checks).

I heard you can only send £250 max per day via faster payments from a natwest account.

agrinnall

calster10 wrote: »

I heard you can only send £250 max per day via faster payments from a natwest account.

You should stop listening to ignorant idiots in the pub. NatWest personal account transaction limit is £20,000 in branch, over the phone and online (and £99,999.99 for Standing Orders).

http://www.fasterpayments.org.uk/transaction-limits

Mind you, if there's any truth to what your friend was told both on Friday and today then NatWest are in breach of the Payments Services Regulations (2009), and a complaint is pretty likely to result in a few quid compensation.

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

Dobbibill

calster10 wrote: »

I heard you can only send £250 max per day via faster payments from a natwest account.

Google is your friend........This is their limit for new payees via the app not the FP limit.

Did you know you can pay a person up to £250 without a card reader using our mobile banking app? All you need is the account number and sort code of the person you want to pay.

taken from their website here http://personal.natwest.com/personal/ways-to-bank/mobile-app/payments.html

The desktop site with a card reader, telephone and branch are well above £250 as previously said but either way PSR regulations state you should have your money by end of today.

df-MRes_student

No, I've sent numerous faster payments to my credit card (at halifax) over the years and a good number of those have been in excess of £1,000 each time, though I have also made faster payments for much smaller amounts too. It's certainly not limited to £250. I've been with NatWest for 37 years, so have plenty of experience of using this facility and many others for personal and business purposes.

The faster payments I've made have always been done and received the same day. I think it's best you contact them direct.

Biggles

df-MRes_student wrote: »

No, I've sent numerous faster payments to my credit card (at halifax) over the years and a good number of those have been in excess of £1,000 each time, though I have also made faster payments for much smaller amounts too. It's certainly not limited to £250. I've been with NatWest for 37 years, so have plenty of experience of using this facility and many others for personal and business purposes.

I'm surprised a 'MRes student' didn't do his research by reading the previous post before replying, when he would have realised he was answering the wrong question.