Does Lloyds Bank Computer Take The Weekend Off?

penners324

Lloyds still use systems built in 1950s that aren't designed to work at the weekend 

lr1277

Faster payments were never guaranteed to go through the same day. My understanding is the payment would arrive bt the end of the next working day. Though many payments arrive in minutes should be considered a bonus.
And as pointed out depending on the building society, it may take 24 hrs to allocate the money to your account.
So I suppose you should have sent the money on Wednesday to be sure it would be credited in the 23-24 tax year. 

I am not sure in which tax year the money will be credited in your particular circumstance. Perhaps worth contacting the ISA provider?

Edited to add: besides which in this particular cas assuming you wanted the money credited in the 23-24 tax year, the 24-25 tax year started today, a Saturday!  So if the money didn’t arrive by Friday and get credited to your account, you would have been in the new tax year anyway, irrespective of whether the bank’s systems worked over the weekend.

Additionally my mum every so often sends me money from her bricks and mortar bank to my account with FD, usually on a Sunday. Usually arrives in minutes. So not all B&M banks take the weekend off.

Shylock_249

Perhaps you missed my point.  I had money in my Lloyds current account and I wanted to pay Paragon Bank 20k today for the FY 2024/25.  Lloyds allows one to authorise the payment for a day in the future, I did the donkey work yesterday opting for the payment to be made today.  When I finished the payment request Lloyds stated that it wouldn't happen until the next working day.

My point: Does the Computer take the weekend off, doesn't work on Saturdays and Sundays?

A couple of weeks ago my wife funded Kent Reliance 35k into an immediate access account with the intention of moving 20k of it today into a fixed rate ISA. She opened the ISA account 2 days ago, Kent state that accounts must be funded within 7 days. No Problem.

This morning when she logged into Kent to transfer the funds from immediate access to the ISA she was hit with a message that she couldn't choose today for the transfer date because it is a weekend and the first date when the transfer could take place is 8th April.  Unbelieveable, just unbelieveable!

Didn't they put a man on the moon in 48 hours!

amanda1024

I’ve just made a payment from lloyds to another bank and it turned up straight away, with the only message saying ‘this payment should be received within two hours’. I think the issue is that future-dated payments are treated differently to faster payments. So if you want a payment to go out at the weekend probably best just to log in on the day.

Sarahspangles

 Shylock_249 said:

Perhaps you missed my point.  I had money in my Lloyds current account and I wanted to pay Paragon Bank 20k today for the FY 2024/25.  Lloyds allows one to authorise the payment for a day in the future, I did the donkey work yesterday opting for the payment to be made today.  When I finished the payment request Lloyds stated that it wouldn't happen until the next working day.

My point: Does the Computer take the weekend off, doesn't work on Saturdays and Sundays?

A couple of weeks ago my wife funded Kent Reliance 35k into an immediate access account with the intention of moving 20k of it today into a fixed rate ISA. She opened the ISA account 2 days ago, Kent state that accounts must be funded within 7 days. No Problem.

This morning when she logged into Kent to transfer the funds from immediate access to the ISA she was hit with a message that she couldn't choose today for the transfer date because it is a weekend and the first date when the transfer could take place is 8th April.  Unbelieveable, just unbelieveable!

Didn't they put a man on the moon in 48 hours!

Have Paragon and Kent also signed up for Faster Payments? I assumed - correct me if I'm wrong - that both sides needed to use the system.

I've noticed that some of our regular savers have accepted the initial deposit by Faster Payment, but not all.

Sarahspangles

amanda1024 said:

I’ve just made a payment from lloyds to another bank and it turned up straight away, with the only message saying ‘this payment should be received within two hours’. I think the issue is that future-dated payments are treated differently to faster payments. So if you want a payment to go out at the weekend probably best just to log in on the day.

I think you may be right - there's no option to tick for 'I want a Faster Payment but I don't want it to commence until [future date]' so it's set up like a single-use standing order.

lr1277

Shylock_249 said:

Perhaps you missed my point.  I had money in my Lloyds current account and I wanted to pay Paragon Bank 20k today for the FY 2024/25.  Lloyds allows one to authorise the payment for a day in the future, I did the donkey work yesterday opting for the payment to be made today.  When I finished the payment request Lloyds stated that it wouldn't happen until the next working day.

My point: Does the Computer take the weekend off, doesn't work on Saturdays and Sundays?

A couple of weeks ago my wife funded Kent Reliance 35k into an immediate access account with the intention of moving 20k of it today into a fixed rate ISA. She opened the ISA account 2 days ago, Kent state that accounts must be funded within 7 days. No Problem.

This morning when she logged into Kent to transfer the funds from immediate access to the ISA she was hit with a message that she couldn't choose today for the transfer date because it is a weekend and the first date when the transfer could take place is 8th April.  Unbelieveable, just unbelieveable!

Didn't they put a man on the moon in 48 hours!

Sorry yes I did misread your 1st sentence.

wmb194

Shylock_249 said:

Perhaps you missed my point.  I had money in my Lloyds current account and I wanted to pay Paragon Bank 20k today for the FY 2024/25.  Lloyds allows one to authorise the payment for a day in the future, I did the donkey work yesterday opting for the payment to be made today.  When I finished the payment request Lloyds stated that it wouldn't happen until the next working day.

My point: Does the Computer take the weekend off, doesn't work on Saturdays and Sundays?

A couple of weeks ago my wife funded Kent Reliance 35k into an immediate access account with the intention of moving 20k of it today into a fixed rate ISA. She opened the ISA account 2 days ago, Kent state that accounts must be funded within 7 days. No Problem.

This morning when she logged into Kent to transfer the funds from immediate access to the ISA she was hit with a message that she couldn't choose today for the transfer date because it is a weekend and the first date when the transfer could take place is 8th April.  Unbelieveable, just unbelieveable!

Didn't they put a man on the moon in 48 hours!

Did you see my comment? You can make the transfer today, make it 'immediately', and it should arrive at Paragon today but it will be dated Monday on your statement. Lloyds' computers don't take the weekend off.

The next question to ask is whether Paragon pays interest on deposits received at the weekend as not all institutions will.

Shylock_249

wmb194 said:

Did you see my comment? You can make the transfer today, make it 'immediately', and it should arrive at Paragon today but it will be dated Monday on your statement. Lloyds' computers don't take the weekend off.

The next question to ask is whether Paragon pays interest on deposits received at the weekend as not all institutions will.

I didn't want to make the donkey work today, I wanted to do it yesterday. My money; my choice.

Regarding "Sleeping Computers".  Here is a cut and paste from Lloyds Bank Payment section:

"Payments that fall on a weekend or public holiday will be taken on the next working day". That's where I got my information.

If they were wide awake surely they "could" do it on a weekend?  I think earlier helpful comments are the most likely reason that when the computerised system was set up it was based on the days banks were open.  I wonder if the guy doing the programing thought of restricting use to high street banking hours, eg 9.30 am - 4.00 pm?

Sorry, I'm just nodding off!

sheramber

Shylock_249 said:

Perhaps you missed my point.  I had money in my Lloyds current account and I wanted to pay Paragon Bank 20k today for the FY 2024/25.  Lloyds allows one to authorise the payment for a day in the future, I did the donkey work yesterday opting for the payment to be made today.  When I finished the payment request Lloyds stated that it wouldn't happen until the next working day.

My point: Does the Computer take the weekend off, doesn't work on Saturdays and Sundays?

A couple of weeks ago my wife funded Kent Reliance 35k into an immediate access account with the intention of moving 20k of it today into a fixed rate ISA. She opened the ISA account 2 days ago, Kent state that accounts must be funded within 7 days. No Problem.

This morning when she logged into Kent to transfer the funds from immediate access to the ISA she was hit with a message that she couldn't choose today for the transfer date because it is a weekend and the first date when the transfer could take place is 8th April.  Unbelieveable, just unbelieveable!

Didn't they put a man on the moon in 48 hours!

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