Santander's 'Pended bill payment credited for interest to ......'

fleemkt

Has anyone else encountered this before?

I initiated a payment to a new payee, which went through their internal  checks, but was eventually released once validated.  I then proceeded with a second payment to the same payee later that day for the same amount, but it did not land in the destination account as I had expected.  The second transfer debited my Santander account immediately.

The following day, the amount credited the destination account but I also noticed on my Santander account a credit labelled Pended bill payment credited for interest to, followed by the debit - so IN and OUT transactions.

I imagine this was just another one of their internal checks before releasing funds?  If so, it'd have been nice to have been informed of such.

Possibly the exact same amount to the same payee on the same day perhaps?  But I understand it is possible to transfer multiple amounts to the same payee in one day (provided within daily limit), but maybe the amount triggered their systems?

I assume it's a Santander issue and not a rejection from the destination account as it wouldn't have been re-debited and certainly wouldn't show in destination account.

ItsComingRome

They're not going to inform everyone when they're doing internal checks, especially when it could tip off a fraudster.

It does sound like it was held up for checks and possibly manually processed later.

Ed-1

fleemkt said:

Has anyone else encountered this before?

I initiated a payment to a new payee, which went through their internal  checks, but was eventually released once validated.  I then proceeded with a second payment to the same payee later that day for the same amount, but it did not land in the destination account as I had expected.  The second transfer debited my Santander account immediately.

The following day, the amount credited the destination account but I also noticed on my Santander account a credit labelled Pended bill payment credited for interest to, followed by the debit - so IN and OUT transactions.

I imagine this was just another one of their internal checks before releasing funds?  If so, it'd have been nice to have been informed of such.

Possibly the exact same amount to the same payee on the same day perhaps?  But I understand it is possible to transfer multiple amounts to the same payee in one day (provided within daily limit), but maybe the amount triggered their systems?

I assume it's a Santander issue and not a rejection from the destination account as it wouldn't have been re-debited and certainly wouldn't show in destination account.

Santander do this so that you don't lose out on interest on the amount debited from your account but still held with Santander.

ItsComingRome

Deleted_User said:

ItsComingRome said:

They're not going to inform everyone when they're doing internal checks, especially when it could tip off a fraudster.

It does sound like it was held up for checks and possibly manually processed later.

I'm surprised to hear that. Due to the very low interest rates currently, with new savings accounts appearing daily improving the rate slightly, I spend much of my time setting up new payees and removing old ones. I'm now experiencing a large increase in payments being delayed for security checks.

Yesterday, my second payment to a new payee resulted in Santander instantly blocking my accounts for security check reasons. I was then obliged to spend about an hour and a half on the phone waiting for the security team to answer before my payment was finally authorised and my accounts unblocked.

Last week I was delayed by needing to phone Halifax who had blocked my account for my attempting to pay out the massive amount of £1! I'd hate to think how much longer it might have taken if my payment had been for £2!

I have seen no evidence to support of your suggestion that "They're not going to inform everyone when they're doing internal checks," when I am getting my accounts blocked instantly whenever they're carrying out security checks.

Blocking accounts is not informing you.  Saying "We're going to hold your payment whilst we do some checks" is.

fleemkt

Thanks everyone for your comments.  I just wanted to gain an understanding ...

A slight inconvenience, but I guess they're doing to protect our interest I suppose.

robatwork

Nobody else going to comment but I've never heard the word "pended" before, and don't think it's UK English. Perhaps it's used in the USA?

interesting_person

This happened to me today.  I telephoned Santander and they told that it was so that I do not lose out on interest because the payment did not complete the same day.  So the payment was re-credited to my account (to earn interest) and left again on the next day.

flaneurs_lobster

robatwork said:

Nobody else going to comment but I've never heard the word "pended" before, and don't think it's UK English. Perhaps it's used in the USA?

I'm going to do my best to use it at least once today.

SiliconChip

robatwork said:

Nobody else going to comment but I've never heard the word "pended" before, and don't think it's UK English. Perhaps it's used in the USA?

It appears that while pend is a recognised verb it's original use (to hang, from French pendre) is obsolete, but it's been reused in English by creating a verb from the word pending, and pended is the past participle meaning delayed or postponed.

Etymology 3

Back-formation from pending.

Verb

pend (third-person singular simple present pends, present participle pending, simple past and past participle pended)

1. (transitive) To consider pending; to delay or postpone (something). [from 20th c.]

robatwork

I'm still not having Pended as valid in UK English - does anyone have a sub to the real OED for something more definitive?

Cambridge.org doesn't recognise it. 

It's a a bit sus. And should be sus-pended until we know more. 

flaneurs_lobster

OED is available via most libraries logins