HSBC Past Cut Off When Making Bank Transfers

NoNoDrama

I hate this bank with a passion. Trying to transfer funds > message next business day past cut off? Are you serious? Ring them , won't even do it over the phone! They are blaming it on receivers accounts...I'm not convinced?!

What determines these mysterious cut-off times?

eskbanker

NoNoDrama wrote: »

I hate this bank with a passion.

Why haven't you taken your business elsewhere then? It's not exactly difficult to do so via the Current Account Switching Service....

NoNoDrama wrote: »

Trying to transfer funds > message next business day past cut off? Are you serious? Ring them , won't even do it over the phone! They are blaming it on receivers accounts...I'm not convinced?!

What determines these mysterious cut-off times?

Their products, their rules, but to be fair they're not really mysterious when they do clearly publish these in their Ts & Cs:

4.45pm for [same day] payments to non-HSBC accounts; or 5pm for payments to other HSBC Accounts

NoNoDrama

eskbanker wrote: »

4.45pm for [same day] payments to non-HSBC accounts; or 5pm for payments to other HSBC Accounts

Sadly what you have posted is fake news. This is for their CHAPS payments. Furthermore, some transactions go through instantly well after 5pm. I've done some at 10, 11pm and not go the dreaded wait until tomorrow /missed cut off message.

They say on the phone is down to the receivers bank cut-off for receiving payments, which sounds a bit odd..but maybe they are right?

Nobody seems to be able to answer the question of certain banks not accepting BT's after certain times of the day...sounds silly and draconian in this day and age. Can't find anything on the www either

PeacefulWaters

NoNoDrama wrote: »

Sadly what you have posted is fake news. This is for their CHAPS payments. Furthermore, some transactions go through instantly well after 5pm. I've done some at 10, 11pm and not go the dreaded wait until tomorrow /missed cut off message.

They say on the phone is down to the receivers bank cut-off for receiving payments, which sounds a bit odd..but maybe they are right?

Nobody seems to be able to answer the question of certain banks not accepting BT's after certain times of the day...sounds silly and draconian in this day and age. Can't find anything on the www either

It's not guaranteed to get there until the end of the next working day.

And if you're beyond the end of "working day" it could arrive nearly 48 hours after you send it.

In my experience most payments are instant whatever time you send them. But they are not guaranteed to be.

RADDERS

It depends on where you are sending the funds, some banks are not real time and they bank through one of the big boys I.E. HSBC, Nat West and they have to run computer programs to download the payments to their systems to see. This may only happen at certain times or maybe only once a day.
As the payment is guaranteed to get there before the end of the next working day it will be picked up but not necessarily immediately.

Argghhh

its to minimise fraud - i transferred £10 into a new account - after checking it was in - i sent another £240 within 10 mins and got the "it will be next day" message - chatted to them on live chat and its to prevent fraud - didnt bother me as it wasnt a problem to me at the time