Visibility of next day transactions

fluffymitten

I used to bank with HSBC for years but moved to Nationwide about 3 or so years ago. What I really miss about HSBC is that their app would show what transactions would be coming in / going out of your account the next working day. This is a tool I find essential for managing my money.

It's got to the point where I'm fed up with Nationwide just sending a cryptic text about outgoing payments, on the day, and I'm looking to move banks. However, despite the excellent information in the Bank Switch pages, there is no information about which banks can show next day transaction information.

I do have an account with Monzo that I use for holidays, and they show next day transactions but I don't want an online only bank as my main account. Also, if I were to move to Monzo fully then I'd need to find another bank to use for holiday spending as I will still want to keep that separate.

Are HSBC / First Direct the only bank who display this information? If there's any other bricks and mortar banks that provide this functionality, please say! I saw some posts on this forum but they're many years old and I'm hoping that things have improved since then.

Thanks for any suggestions.

wmb194

fluffymitten said:

I used to bank with HSBC for years but moved to Nationwide about 3 or so years ago. What I really miss about HSBC is that their app would show what transactions would be coming in / going out of your account the next working day. This is a tool I find essential for managing my money.

It's got to the point where I'm fed up with Nationwide just sending a cryptic text about outgoing payments, on the day, and I'm looking to move banks. However, despite the excellent information in the Bank Switch pages, there is no information about which banks can show next day transaction information.

I do have an account with Monzo that I use for holidays, and they show next day transactions but I don't want an online only bank as my main account. Also, if I were to move to Monzo fully then I'd need to find another bank to use for holiday spending as I will still want to keep that separate.

Are HSBC / First Direct the only bank who display this information? If there's any other bricks and mortar banks that provide this functionality, please say! I saw some posts on this forum but they're many years old and I'm hoping that things have improved since then.

Thanks for any suggestions.

You're referring to payments you've scheduled and estimated DDs? Lloyds has something in its app for this.

https://www.lloydsbank.com/help-guidance/everyday-banking/statements/upcoming-payments.html

fluffymitten

It's mainly going to be direct debits going out. I have some where the date can vary due to the billing cycle and whilst I can estimate to within a couple of days when they will leave my account, there have been occasions where I've gotten it wrong.

Thanks for the suggestion, I can't say I've noticed this when managing my Mum's account with Lloyds but maybe I'm just not checking her account at the right time. I'll take a closer look.

gt94sss2

wmb194 said:

fluffymitten said:

I used to bank with HSBC for years but moved to Nationwide about 3 or so years ago. What I really miss about HSBC is that their app would show what transactions would be coming in / going out of your account the next working day. This is a tool I find essential for managing my money.

It's got to the point where I'm fed up with Nationwide just sending a cryptic text about outgoing payments, on the day, and I'm looking to move banks. However, despite the excellent information in the Bank Switch pages, there is no information about which banks can show next day transaction information.

I do have an account with Monzo that I use for holidays, and they show next day transactions but I don't want an online only bank as my main account. Also, if I were to move to Monzo fully then I'd need to find another bank to use for holiday spending as I will still want to keep that separate.

Are HSBC / First Direct the only bank who display this information? If there's any other bricks and mortar banks that provide this functionality, please say! I saw some posts on this forum but they're many years old and I'm hoping that things have improved since then.

Thanks for any suggestions.

You're referring to payments you've scheduled and estimated DDs? Lloyds has something in its app for this.

https://www.lloydsbank.com/help-guidance/everyday-banking/statements/upcoming-payments.html

That is like the "Balance after bills" feature that HSBC offers. These are based on historic spending patterns

It's not quite what the OP describes in their first post, which is showing payments due to come in/out the next day

easyasonetwothree

Yes, Lloyds has an Upcoming Payment section in the app (after tapping on the 3 dots top right). Halifax has it too. It shows what's scheduled to go out in the next month, though you can change the date period if you want.

fluffymitten

Ah yes, that's estimated based on when the payment last went out. Good if the date only moves due to weekends and holidays, and the transaction value is the same, not so great for more variable payments.

HSBC has a pending payments section that shows all transactions happening on the next working day. It's this sort of functionality I'm looking for. Monzo shows upcoming transactions as part of the overall transaction list, which is also useful.

EarthBoy

fluffymitten said:

I used to bank with HSBC for years but moved to Nationwide about 3 or so years ago. What I really miss about HSBC is that their app would show what transactions would be coming in / going out of your account the next working day. This is a tool I find essential for managing my money.

Banks will have very little information on incoming payments.  They might know what's due to come in via the BACS system, but increasingly many payments are sent by Faster Payments, and the bank won't know about those in advance.  

jimjames

easyasonetwothree said:

Yes, Lloyds has an Upcoming Payment section in the app (after tapping on the 3 dots top right). Halifax has it too. It shows what's scheduled to go out in the next month, though you can change the date period if you want.

Unfortunately if it's the same as Halifax then it doesn't show actual payments just what you paid last month so a variable DD will have the wrong amount shown.

Ergates

fluffymitten said:

Ah yes, that's estimated based on when the payment last went out. Good if the date only moves due to weekends and holidays, and the transaction value is the same, not so great for more variable payments.

HSBC has a pending payments section that shows all transactions happening on the next working day. It's this sort of functionality I'm looking for. Monzo shows upcoming transactions as part of the overall transaction list, which is also useful.

Any information on an up-coming direct debit payment can *only* be an estimate based on previous payments.

Standing Orders are scheduled push payments - i.e. they're triggered by *your* bank, so they'll know the exact date and amount ahead of time.

Direct Debits are pull payments* - i.e. they're triggered by the recipients bank sending a request to your bank.  This means that your bank *cannot* know the exact time or amount ahead of time.


*(technically they're requested push payments - but effectively they're pulls)

PloughmansLunch

HSBC are the only bank I can think of that show incoming BACS payments (with date due) in advance. If they previously suited your needs could you switch Nationwide back to them, or have you written them off for good?

Not a bricks and mortar option (and I wouldn't dream of using it as anything other than a very minor player) but I've found Kroo to show accurate DDs in advance as I use them for a couple of credit card direct debits. 

Barclays have a fairly useful calendar view of regular payments due out, but as with Lloyds group these amounts are estimated based on previous info.

fluffymitten

Ergates said:

fluffymitten said:

Ah yes, that's estimated based on when the payment last went out. Good if the date only moves due to weekends and holidays, and the transaction value is the same, not so great for more variable payments.

HSBC has a pending payments section that shows all transactions happening on the next working day. It's this sort of functionality I'm looking for. Monzo shows upcoming transactions as part of the overall transaction list, which is also useful.

Any information on an up-coming direct debit payment can *only* be an estimate based on previous payments.

Standing Orders are scheduled push payments - i.e. they're triggered by *your* bank, so they'll know the exact date and amount ahead of time.

Direct Debits are pull payments* - i.e. they're triggered by the recipients bank sending a request to your bank.  This means that your bank *cannot* know the exact time or amount ahead of time.


*(technically they're requested push payments - but effectively they're pulls)

Interesting. So how can Monzo and HSBC can show the date and value of a DD the day before it comes out of my account if they don't know this information? If they're guessing, it's a 100% accurate guess