Co-operative Bank Payment not arrived nearly a day later

karljt2013

I made a payment from a co-operative bank account to a normal Barclays Bank account at 5pm on Saturday. The money has been deducted but it has not arrived in the recipient account. This can't be normal in this day and age. Is anybody else experiencing issues with them?

I used my debit card and card reader to set up the transaction and I have double checked all the recipient payment details.

StokieBecks

It will no doubt show up on Monday. Weekends don't class as normal banking days even now.

sheramber

https://www.barclays.co.uk/help/customer-services/working-day/

agrinnall

Could arrive any time between seconds after you pressed enter to the end of day on Tuesday and still be within the rules. Although it'll probably turn up on Monday.

mgdavid

karljt2013 wrote: »

I made a payment from a co-operative bank account to a normal Barclays Bank account at 5pm on Saturday. The money has been deducted but it has not arrived in the recipient account. This can't be normal in this day and age. ......

Usual - no
within the rules of Faster Payments - yes
normal - depends on which definition of normal you use
anything to worry about - no, not until after Tuesday

JGB1955

Reminds me of a Downton Abbey comment...


Nationwide know what a weekend is.. Nat West don't.

polymaff

karljt2013 wrote: »

I made a payment from a co-operative bank account to a normal Barclays Bank account at 5pm on Saturday. The money has been deducted but it has not arrived in the recipient account. This can't be normal in this day and age.

The free payment systems only guarantee that the payment will "arrive" by the end of the next business day - and then only if both parties are direct participators in the payment mechanism (usually FPS).

If you want it there same day - which implies a business day - then use CHAPS and arrange it by the bank's cut-off time which is usually no later than 5pm.

Or a wheelbarrow.

agrinnall

polymaff wrote: »

If you want it there same day - which implies a business day - then use CHAPS and arrange it by the bank's cut-off time which is usually no later than 5pm.

As you've suggested, by mentioning business day, this wouldn't have helped the OP to get a transfer done on a Saturday as CHAPS wouldn't have been running then anyway (and even on a day when it would it's very likely that 5pm would have been after the cut off time for that day).



Even the wheelbarrow might not have helped as it's unlikely any Barclays branch would be open at that time, although if they offer cash deposit at ATMs that might have worked.

polymaff

polymaff wrote: »

If you want it there same day - which implies a business day - then use CHAPS and arrange it by the bank's cut-off time which is usually no later than 5pm.

Or a wheelbarrow.

agrinnall wrote: »

As you've suggested, by mentioning business day, this wouldn't have helped the OP to get a transfer done on a Saturday as CHAPS wouldn't have been running then anyway (and even on a day when it would it's very likely that 5pm would have been after the cut off time for that day).


Even the wheelbarrow might not have helped as it's unlikely any Barclays branch would be open at that time, although if they offer cash deposit at ATMs that might have worked.

Indeed, I did.


Note the smiley face.

jonnygee2

Could arrive any time between seconds after you pressed enter to the end of day on Tuesday and still be within the rules.

The free payment systems only guarantee that the payment will "arrive" by the end of the next business day - and then only if both parties are direct participators in the payment mechanism (usually FPS).

Not sure where you have got this info from, but a faster payment is considered lost if it has been missing for more than two hours, according to the scheme spec. As there is no manual work done to process a faster payment, the time or day should not make any difference.

If still missing after 2 hours or so, something has gone wrong and you need to contact the bank. It's probably been caught in the

This can't be normal in this day and age.

It's completely normal. Faster payments go wrong all the time. The system relies on two banks sending multiple messages back and fourth in very short timeframes, if a bank times out then often the money gets stuck somewhere. Probably happens to about 1/100,000 payments or so.

It could be with either bank. Sometimes banks reconcile the holding accounts so you get it back anyway.

But, to speed things up, speak to the sending bank first, ask them to look for it. If they cannot find it ask for the Faster Payment ID. Then take the FPID to the receiving bank and they'll be able to find it.

BoGoF

jonnygee2 wrote: »

Not sure where you have got this info from, but a faster payment is considered lost if it has been missing for more than two hours, according to the scheme spec. As there is no manual work done to process a faster payment, the time or day should not make any difference.

If still missing after 2 hours or so, something has gone wrong and you need to contact the bank. It's probably been caught in the



It's completely normal. Faster payments go wrong all the time. The system relies on two banks sending multiple messages back and fourth in very short timeframes, if a bank times out then often the money gets stuck somewhere. Probably happens to about 1/100,000 payments or so.

It could be with either bank. Sometimes banks reconcile the holding accounts so you get it back anyway.

But, to speed things up, speak to the sending bank first, ask them to look for it. If they cannot find it ask for the Faster Payment ID. Then take the FPID to the receiving bank and they'll be able to find it.

Care to give a reference for your 'missing after 2 hours' theory.