Natwest standing orders

Grizebeck

Does anyone know if natwest standing orders are sent via BACS or FP. As someone has set up several to pay me leaving today (overnight etc) to several different banks and non have arrived yet he says they have all gone out.

sammyjammy

Standing orders like Direct Debits will be paid via the BACS system.

wmb194

sammyjammy said:

Standing orders like Direct Debits will be paid via the BACS system.

I don't know about NatWest but other banks e.g., Lloyds pay SOs by FP. Even FPs can take a few hours or arrive next working day, though.

fun4everyone

Grizebeck said:

Does anyone know if natwest standing orders are sent via BACS or FP. As someone has set up several to pay me leaving today (overnight etc) to several different banks and non have arrived yet he says they have all gone out.

I find standing orders from the natwest/rbs group to be particularly bad. The slowest out of all the ones I use, and amending them is awful. good luck trying to put an end date on a repeating one yourself. I would wait till later today and check again, they should be in by then.

SiliconChip

sammyjammy said:

Standing orders like Direct Debits will be paid via the BACS system.

The only way this is true is if your understanding is that BACS and FPS are the same thing. But the general understanding is that the BACS Direct Credit system posts payments in 3 working days time, while FPS sends payments in real time (but with the proviso that delays may mean that they don't arrive immediately, but can take up to the end of the next business day).

Since the introduction of FPS Standing Orders have been sent by FPS by member banks (including NatWest, having worked on the development of their Faster Payment systems I know this to be the case), generally in the early hours of the morning following the date they are set to send, arriving before business hours on the same day. If a number of SOs from NatWest have not arrived by now then that suggests there has been an issue with NatWest processing overnight (unless other banks' SOs are also delayed, in which case it's more likely to be a central FPS issue).

flo22

Standing Orders are paid via FPS, prior to 2012 they were paid by Bacs.  The change to FPS was the first Payment Service Directive 2009 where outbound payments have to be completed by the end of the next business day.