Bank Accounts that function on weekends?

[Deleted User]

Standing Orders shouldn't be sent on non-working days that's why the major ubanks won't allow you to send on weekends or English Bank Holidays.

They're generally bulk paid early each working day. 

Band7

Deleted_User said:

Standing Orders shouldn't be sent on non-working days 

Why not ?

RG2015

Band7 said:

Deleted_User said:

Standing Orders shouldn't be sent on non-working days 

Why not ?

I think the point is that SOs and DDs are currently never sent on a non working day.

If a bank unilaterally did this it would create financial confusion. I like certainty for my financial transactions.

That is not to say that banks should never consider agreeing to change this. But I believe that it would need to be consistent across all players in the banking sector.
 

eskbanker

RG2015 said:

Band7 said:

Deleted_User said:

Standing Orders shouldn't be sent on non-working days 

Why not ?

I think the point is that SOs and DDs are currently never sent on a non working day.

If a bank unilaterally did this it would create financial confusion. I like certainty for my financial transactions.

That is not to say that banks should never consider agreeing to change this. But I believe that it would need to be consistent across all players in the banking sector.

But it's not consistent, as highlighted earlier in the thread, i.e. some do and some don't process at weekends!

If any individual institution was to change its policy, this should be communicated to customers....

RG2015

eskbanker said:

RG2015 said:

Band7 said:

Deleted_User said:

Standing Orders shouldn't be sent on non-working days 

Why not ?

I think the point is that SOs and DDs are currently never sent on a non working day.

If a bank unilaterally did this it would create financial confusion. I like certainty for my financial transactions.

That is not to say that banks should never consider agreeing to change this. But I believe that it would need to be consistent across all players in the banking sector.

But it's not consistent, as highlighted earlier in the thread, i.e. some do and some don't process at weekends!

If any individual institution was to change its policy, this should be communicated to customers....

My mistake.

I wasn’t aware that any banks processed DDs and or SOs at the weekend.

l should have read the earlier posts.

35har1old

Rob5342 said:

35har1old said:

Rob5342 said:

A second Starling account should sort you out, or open an accoint with one of the other modern accounts like Monzo. I wouldn't bother with banks that are stuck in the dark ages.

Do they offer anything more than being able to transfer SO at weekends ?

Yes, being able to split money into pots and have bills come out of the pots. Direct debits and standing orders showing up before they come out. Budgeting features to analyze your spending. Being able to get paid a dau early in the case if Monzo. Being able to transfer money to someone that is nearby or is a phone contact without having to exchange bank details.Debit card paymens clearly shown as soon as you make them instead of being in a separate pending section for a day or two.  Splitting bills in the app. Being able to take a photo of the receipt in the app and attach it to the transaction. Being able to add notes to each transaction in the app. Being able to easily see all the transcriptions to)from a particular person/company in the app.Being able to create virtual debit cards for use online.

The old fashioned banks are adding some of these features very very very very slowly, so why not use a modern bank that has them all already?

i am afraid all these features are not important to me.
Do the pots pay interest.
How often have you used the pay nearby function

gt94sss2

eskbanker said:

RG2015 said:

Band7 said:

Deleted_User said:

Standing Orders shouldn't be sent on non-working days 

Why not ?

I think the point is that SOs and DDs are currently never sent on a non working day.

If a bank unilaterally did this it would create financial confusion. I like certainty for my financial transactions.

That is not to say that banks should never consider agreeing to change this. But I believe that it would need to be consistent across all players in the banking sector.

But it's not consistent, as highlighted earlier in the thread, i.e. some do and some don't process at weekends!

If any individual institution was to change its policy, this should be communicated to customers....

Banks do not process standing orders on weekends. It's part of the standing order rules.

Banks which are sending payments on weekends are actually sending them as faster payments even if they incorrectly call them standing orders.

AmityNeon

gt94sss2 said:

Banks do not process standing orders on weekends. It's part of the standing order rules.

An antiquated relic of a rule, hence why the 'challenger' banks don't bother with it. Ever since Standing Orders switched to the Faster Payments System, there hasn't been a technical reason to restrict them to working days.

Metro Bank is the worst; you can't even schedule a standing order if the upcoming date of your desired monthly day falls on a weekend. E.g. 25th Feb 2023? Nope, that's a Saturday, so the first payment must be 25th April 2023, and you'll have to make alternative arrangements for Feb/March (e.g. create a second standing order for two 27th payments, or schedule two individual advance payments).

RG2015

eskbanker said:

RG2015 said:

Band7 said:

Deleted_User said:

Standing Orders shouldn't be sent on non-working days 

Why not ?

I think the point is that SOs and DDs are currently never sent on a non working day.

If a bank unilaterally did this it would create financial confusion. I like certainty for my financial transactions.

That is not to say that banks should never consider agreeing to change this. But I believe that it would need to be consistent across all players in the banking sector.

But it's not consistent, as highlighted earlier in the thread, i.e. some do and some don't process at weekends!

If any individual institution was to change its policy, this should be communicated to customers....

gt94sss2 said:

eskbanker said:

RG2015 said:

Band7 said:

Deleted_User said:

Standing Orders shouldn't be sent on non-working days 

Why not ?

I think the point is that SOs and DDs are currently never sent on a non working day.

If a bank unilaterally did this it would create financial confusion. I like certainty for my financial transactions.

That is not to say that banks should never consider agreeing to change this. But I believe that it would need to be consistent across all players in the banking sector.

But it's not consistent, as highlighted earlier in the thread, i.e. some do and some don't process at weekends!

If any individual institution was to change its policy, this should be communicated to customers....

Banks do not process standing orders on weekends. It's part of the standing order rules.

Banks which are sending payments on weekends are actually sending them as faster payments even if they incorrectly call them standing orders.

Very interesting. I have got into the habit of not questioning eskbanker, but the above is what I thought.

The issue is that the new banks have been changing the rules and I have not always been up to date.

“When is a Standing Order not a Standing Order?”

RG2015

AmityNeon said:

gt94sss2 said:

Banks do not process standing orders on weekends. It's part of the standing order rules.

An antiquated relic of a rule, hence why the 'challenger' banks don't bother with it. Ever since Standing Orders switched to the Faster Payments System, there hasn't been a technical reason to restrict them to working days.

Metro Bank is the worst; you can't even schedule a standing order if the upcoming date of your desired monthly day falls on a weekend. E.g. 25th Feb 2023? Nope, that's a Saturday, so the first payment must be 25th April 2023, and you'll have to make alternative arrangements for Feb/March (e.g. create a second standing order for two 27th payments, or schedule two individual advance payments).

Antiquated it may be, but rules are rules even if you don’t like them.

I remember my bank manager telling me his branch had 5 boxes for their standing orders, Monday to Friday. Each morning someone would open the day’s box and remove the cards inside. Each card was a standing order transaction which they would then enter on their ledgers, and more latterly on their computer records for each customer.

They always had a panic after a bank holiday as they needed to enter the SOs for the missing days.