Bank transfer true or false

chriz1

I'm owed some money £1500 and the person says they have done the transfer says because it is over a certain amount it will take 72hrs to reach me, now whenever I have done large transfers and received them from other people they have been pretty much instant,
Are they lieing to me ??

worried_jim

Yes they are. Should appear with in two hours but most of the time it's instant. They are pulling your pants down.

alanq

Not all transfers are instant only those those to/from major banks. A transfer from a building society account may take until the end of the following working day (longer if initiated after the cut of for that day). This could be 72 hours over a weekend/bank holiday.

Annie35

a bacs maybe? they used to take 2/3 days. If it's from selling something dont release (send) it until the moneys in your account, if its a debt you could ask for a screenshot of the pending payment but probably best to accept the info as the truth & check back in 3 days.

YorkshireBoy

Annie35 wrote: »

a bacs maybe?

Personal banking customers don't have access to the BACS Direct Credit system, which is the only way a payment will take 2-3 working days to arrive these days.

chriz1

No it's from a job a did laid a patio, price agreed before I started and even though I finished last Thursday I agreed to wait until Monday 31st for payment,
And was told the above.. she seems genuine but don't they all even wants me to do more work which I won't be doing until i have what I am owed

pmduk

If she's paying you from a business account it's possible that account is set for for BACS payments only.

chriz1

I see might be he case as they have their own business so maybe that makes sense

BrownMamaBear

She may have sent it as a standing order (which can take 2/3 days from the time its set up) rather than a bill payment which can take two hours.

badger09

BrownMamaBear wrote: »

She may have sent it as a standing order (which can take 2/3 days from the time its set up) rather than a bill payment which can take two hours.

Why do you say that?

Standing orders are usually used for a series of regular payments. Why would someone use that method in OP's scenario?

PeacefulWaters

Payment made on a Friday evening can take until Tuesday to arrive.

Perhaps this isn't about bank transfer timescales though, and more about your client waiting until pay day.