Slow faster payment

YorkshireBoy

OceanSound wrote: »

I meant to say "and it's on 11 not page 15"...

I don't understand what you're saying there at all, sorry.

I was concerned that you may not be quoting the most recent terms. I believe 13 January 2018 is the currently effective terms.

I could only find one set of T&Cs on their website, and these are effective 13/1/18 as you say. Are there other T&Cs?

If the "usually..." part is on page 15 of the terms you are looking at, we may not be looking at the same terms.

OK, here's the link to those T&Cs effective 13/1/18...

https://www1.firstdirect.com/1/PA_esf-ca-app-content/content/content_static/pdf/fdAccTandC2018.pdf

Page 11 deals with payments into your account, not payments leaving your account.

I think it would have been beneficial to the users of the forum if you posted the source to the terms you were looking at.

See above. Please could you post the source of the T&Cs you're looking at.

Mulder00

Batches might be done in size order or the system might be doing parallel processing with your one payment being picked up and processed by another thread. On all of the payments systems I've worked on, this would be much more likely to have happened than some form of additional check being triggered.

OceanSound

YorkshireBoy wrote: »

I don't understand what you're saying there at all, sorry.I could only find one set of T&Cs on their website, and these are effective 13/1/18 as you say. Are there other T&Cs?OK, here's the link to those T&Cs effective 13/1/18...

https://www1.firstdirect.com/1/PA_esf-ca-app-content/content/content_static/pdf/fdAccTandC2018.pdf

Page 11 deals with payments into your account, not payments leaving your account. See above. Please could you post the source of the T&Cs you're looking at.

THe part I quoted is headed "Just so you know" and is referring to the Faster Payments system. As you say it's mentioned in the section 'Payments in to your account', but then does that mean, payment in to the account can "arrive usually within a few hours" whereas payments leaving the account 'usually within 2 hours'. Why this inconsistency in the wording? (I know for a fact that payments can both arrive/leave usually instantly. Do arrivals usually take longer? Doubt it)

See above. Please could you post the source of the T&Cs you're looking at.

Already did in post #13.
It's the same URL as yours.

reekishawnee

What an absolute waste of a discussion!

eskbanker

reekishawnee wrote: »

What an absolute waste of a discussion!

So why resuscitate it after nearly a year?

robatwork

Actually quite an interesting discussion.

I have certainly noticed in the last 2 years in particular that FPs from my Santander account tend to go instantly to every UK financial institution. This wasn't the case a few years ago. I can't remember the last time a payment was held up more than a few minutes, even to new payees.

Armorica

robatwork wrote: »

Actually quite an interesting discussion.

I have certainly noticed in the last 2 years in particular that FPs from my Santander account tend to go instantly to every UK financial institution. This wasn't the case a few years ago. I can't remember the last time a payment was held up more than a few minutes, even to new payees.

There will still be delays with some small institutions but you're unlikely to come across these. For example, smaller building societies and branches/subs of overseas banks. The majority of UK current accounts will be instant tho.

Zero_Sum

From accounts i have, co-op are a bit slow receiving but sending is fine. (10-15 mins)
Tesco takes a similar amount of time but if done at late on day especially weekends it wont be there until next day.

YBS say they send deposits by FPS but dont get them until halfway through next day