Faster Payments advice

mattconway

Good Afternoon

I wondered if anyone had any information on my scenario.

Me and my partner just made three faster payments for our house depositi from our Nationwide account to our solicitors Natwest account this morning. They have still not received payment.

Does anyone know from experience if it is common for there to be a delay due to it being a Saturday. Just a bit panicky due to the amount of money sent to them.

Kind regards

robpw2

they can take up to two hours to show in other account and may be subject to fraud checks etc which could delay payments further

mattconway

We sent the money over at 10am and they still hadn't received it half an hour ago.

msallen

Its not guaranteed to get there until Tuesday evening because ...
a) the guarantee is that it will arrive by the end of the next working day.
b) Saturday is not a working day so that guarantee only starts counting from Monday.

In practise it will almost certainly be way quicker than that, but if three large transactions were sent from an account where large transactions are unusual it will probably have been flagged as needing checking for potential fraud.

BoGoF

Obvious question - you have double/triple checked their account details?

mattconway

Yes checked and re-checked many many times!

jonesMUFCforever

Why or Why or Why did you make such an important payment on a Saturday!?

mattconway

My solicitor called me to request the deposit today

MarkFromCornwall

You have nothing to worry about (ie. the money won't have disappeared) but it's quite normal that it might take until Monday to show up.

If it's a large sum and especially three payments to the same account it could trigger extra security checks.

jonesMUFCforever

Well that in its self would be suspicious to me - a solicitor working on a Saturday?

agrinnall

As it's taken more than 2 hours I would expect that what msallen has said is correct, and the transactions may well not be looked at until Monday.