The Top Regular Savers Discussion Thread

Kim_13

Malchester said:

x44 said:

jaypers said:

Speculator said:

Does anyone know how long it takes for payments to be credited to Furness a/cs if sent by FP. Thanks.

Sent £10 by FP at 3am today. Still not showing as credited.

They are very slow and usually next working day.

That'll be because like many smaller financial groups they are using a main stream partner bank to process the payment for them. 

So you pay the partner bank's sort code and centralised account No and add in the reference field the account number that you hold with the Building Society - This refererence field is how together with your name and possibly also the originating account that they use to correctly allocate you deposit to you.

Snag it it takes an extra day - but then Faster payments is only guaranteed to be by the end of the following working day so its all fully compliant. Just not the 2 hours or even 2 mins that some have become used to!

...and it will probably take an extra day at weekends, and also if payments are sent in the evening after the partner bank runs the processing job for the day. After which they end up being processed in the next day's batch.

It doesn't have to be slow and a building society using a clearing bank to process deposits doesn't have to take until thd next day. I have accounts with Dudley BS and Saffron BS, both of which received depositx in about 2 hours. My guess is it is a choice by thd BS to only pay for one processing point a day, possibly overnight.

Cambridge and Melton show the same day also. Cambridge use Barclays as their clearing bank and Melton HSBC.