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Faster payment bank transfers, always 2 hours max ?

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Comments

  • dunstonh
    dunstonh Posts: 120,201 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Maybe the faster payment method wasnt available at the time or it failed and it has reverted to BACs.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Indout96
    Indout96 Posts: 2,394 Forumite
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    The money may be there but the site you are looking at may not update instantly, I recently transferred money to a FORD 3 year bond and they only update their site at 4.00 pm so the money left my account at 8.00 am and was not showing until just after 4.00
    Totally Debt Free & Mortgage Free Semi retired and happy
  • dunstonh
    dunstonh Posts: 120,201 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Indout96 said:
    The money may be there but the site you are looking at may not update instantly, I recently transferred money to a FORD 3 year bond and they only update their site at 4.00 pm so the money left my account at 8.00 am and was not showing until just after 4.00
    That can happen where the provider doesnt have their own sort code/account number system.  Your payment goes to their account and then they have to move it to your account with them.   So, its an extra hop.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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