Santander faster payment failure - opinions please

EssexExile

Rhino666 wrote: »

https://uk.trustpilot.com/review/www.santander.co.uk
indicates that Santander are about as popular as I am on this thread..

Check out the reviews of other banks, they are much the same.

You're not unpopular, people don't agree with you but there's nothing wrong with that.

Rhino666

Thank you born again.
My Santander account was initially debited on Thursday 16th January at 9.30 am, re-credited sometime late morning/early afternoon on Friday 17th January and quickly debited again. The destination bank has been paid before by faster payment from Santander but this was a new account with new payment details, so treated as a new payment. Faster payment was the destination bank's preferred choice and when Santander successfully processed the payment on 17th January, it went straight through to the destination bank as would be expected.
When I talked to Santander they could only offer the terms and conditions as justification for the delay; there was no other mitigating circumstance or explanation and I did ask two separate people.
I will add that I have had my accounts with Santander for around 17 years. There have been some issues in the past but Santander have always explained themselves and actually made me a goodwill payment on one occasion. The lack of clarity with this faster payment together with the genuine stress caused when it appeared my money was lost are the reason for my discontent. I also initially blamed the receiving bank which was regrettable and thank them for accepting my apology.

Rhino666

EssexExile wrote: »

Check out the reviews of other banks, they are much the same.

You're not unpopular, people don't agree with you but there's nothing wrong with that.

You are right! - just checked out some of the others on Trustpilot and all miserable review records.
My girlfriend has just assured me that I am unpopular:-)

Ed-1

Rhino666 wrote: »

Thank you born again.
My Santander account was initially debited on Thursday 16th January at 9.30 am, re-credited sometime late morning/early afternoon on Friday 17th January and quickly debited again. The destination bank has been paid before by faster payment from Santander but this was a new account with new payment details, so treated as a new payment. Faster payment was the destination bank's preferred choice and when Santander successfully processed the payment on 17th January, it went straight through to the destination bank as would be expected.

Some larger payments (especially to new payees) go through several fraud checks AFTER you have submitted the payment before the bank accepts the transaction. This is standard procedure with Santander. They sometimes decline the original payment and then approve the same payment shortly afterwards. This seems to be how they conduct their checks.

They have to comply with money laundering regulations etc. It's not just about making sure it's you authorising the payment. It's also about making sure you're not trying to launder the proceeds of crime. E.g. if you'd just paid in a large amount of cash and then tried to make a large payment to an external account it would trigger money laundering alarms.

colsten

Rhino666 wrote: »

I will add that I have had my accounts with Santander for around 17 years.

Santander UK was established on 11 January 2010.

BoGoF

Why all the stomping of feet and "I'll take my business elsewhere" when the bank has done nothing wrong?

As has been said, for something so 'critical' you should have used CHAPS or were you too tight to pay the fee.

Zero grounds for your complaint.

Rhino666

colsten wrote: »

Santander UK was established on 11 January 2010.

Yes, they took over Abbey National on 11/1/10. My accounts were originally opened with Abbey National in 2002.

Thrugelmir

Rhino666 wrote: »

This was a critical payment so organised very early in the day to avoid issue.

Then the payment should have been made by CHAPS. Lenders obligations for faster payments are clearly defined.

Rhino666

BoGoF wrote: »

Why all the stomping of feet and "I'll take my business elsewhere" when the bank has done nothing wrong?

As has been said, for something so 'critical' you should have used CHAPS or were you to tight to pay the fee.

Zero grounds for your complaint.

A large number of similar payments in similar circumstances made before without any such issue so I am unhappy.
If faster payment has worked without a single problem for some years now why would I feel the need to pay for a service that generally would give no advantage?
Obviously this is my problem and I cannot share the stress it caused or the guilt for blaming the destination bank.
I assume from your reply that similar has happened to you too and water off a duck's back?

Thanks for the entertainment by the way. I spend my forum time on the MX5OC forum but that is migrating to a new platform, so not able to post for a few days.

BoGoF

Rhino666 wrote: »

A large number of similar payments in similar circumstances made before without any such issue so I am unhappy.
If faster payment has worked without a single problem for some years now why would I feel the need to pay for a service that generally would give no advantage?
Obviously this is my problem and I cannot share the stress it caused or the guilt for blaming the destination bank.
I assume from your reply that similar has happened to you too and water off a duck's back?

Thanks for the entertainment by the way. I spend my forum time on the MX5OC forum but that is migrating to a new platform, so not able to post for a few days.

I could complain your thread title is misleading - you forgot to add "but only if you agree with me" at the end.

Thus far nobody agrees with you but you still feel wronged.