Help!!

Charlie00

My friend put some money in my bank on Thursday (today being Saturday) and it hasn’t gone in yet!
Anyone know why this is taking so long?
I’ve heard it could be because it was a large amount of cash, or because I was a new payee on her account

PROLIANT

How much was it? >£5K or less?

Vegainer

Your best options are:

Double-check the account details your friend used
Double-check the funds have come off your friend's balance
Call your bank to see if anything is pending
Get friend to call their bank to chase it

It's really hard for anyone to give you a correct answer - the bank(s) are your best source of info.

Good luck

eskbanker

Charlie00 wrote: »

My friend put some money in my bank on Thursday (today being Saturday) and it hasn’t gone in yet!
Anyone know why this is taking so long?
I’ve heard it could be because it was a large amount of cash, or because I was a new payee on her account

Was it actually "a large amount of cash" (as in a briefcase stuffed with notes) or a direct electronic bank-to-bank transfer, as implied by "a new payee on her account"?

If the latter, are both banks full participants of the Faster Payments scheme?

PeacefulWaters

Charlie00 wrote: »

My friend put some money in my bank on Thursday (today being Saturday) and it hasn’t gone in yet!
Anyone know why this is taking so long?
I’ve heard it could be because it was a large amount of cash, or because I was a new payee on her account

Clarity over how the money was paid in, which banks were involved and stuff like that will save Mystic Meg being the only person capable on answering your question.

warby68

Minimal information but :

If she paid a large amount of cash into her account and immediately tried to transfer it out to a 'new' third party then yes its possibly caught up in the Bank's security checks.

A normal BACS (not faster payment) might not show until Tuesday.

Your friend is probably better placed to make enquiries than you in the first instance.

PeacefulWaters

warby68 wrote: »

Minimal information but :

If she paid a large amount of cash into her account and immediately tried to transfer it out to a 'new' third party then yes its possibly caught up in the Bank's security checks.

A normal BACS (not faster payment) might not show until Tuesday.

Your friend is probably better placed to make enquiries than you in the first instance.

Not that personal payments can be made by "normal BACS".

tempus_fugit

The banks seem to be really slow at the moment, maybe due to the time of year? I sent two faster payments from Tesco accounts to Santander accounts yesterday afternoon. Usually they appear in the receiving account pretty much instantly, or at least within the two hours, even on weekends and bank holidays. Neither payment has appeared yet. Other things have been taking longer as well, such as debit card payments, which also normally appear the same day, have been taking until the next day to appear. So I don't know if it's a general thing just now, but things do seem slower than usual.

Superscrooge

Charlie00 wrote: »

My friend put some money in my bank on Thursday (today being Saturday) and it hasn’t gone in yet!
Anyone know why this is taking so long?
I’ve heard it could be because it was a large amount of cash, or because I was a new payee on her account

A similar thing happened to me when my brother transferred more than £10k to my bank account and it didn't arrive that day which I had assumed it would.

He contacted his bank to find out why and was informed the bank had a £10k limit on faster payments. If he had contacted the bank in advance for authorisation they would have increased this limit, but without pre-authorisation their policy was to make additional fraud checks and the cash would take longer to arrive.

Sure enough the cash arrived on the 2nd working day. So if this is the reason for the delay I would expect the cash to arrive in your account on Tuesday (1st Jan being a Bank Holiday)

molerat

tempus_fugit wrote: »

The banks seem to be really slow at the moment, maybe due to the time of year? I sent two faster payments from Tesco accounts to Santander accounts yesterday afternoon. Usually they appear in the receiving account pretty much instantly, or at least within the two hours, even on weekends and bank holidays. Neither payment has appeared yet. Other things have been taking longer as well, such as debit card payments, which also normally appear the same day, have been taking until the next day to appear. So I don't know if it's a general thing just now, but things do seem slower than usual.

Tesco > Santander this morning pretty much instant. Strangely Santander showing credit date as 01/01/2018.