The Top Regular Savers Discussion Thread

Digital_Payback

chris_the_bee said:

Digital_Payback said:

badger09 said:

Skipton 
Thanks for the heads up on Skipton’s slow processing of incoming SOs early hours on 1st. I intended to set up SO from BoS from 1Sept but will fund by FP or debit card instead. 

I sent 2 automated payments to be credited to 2 separate Skipton regular savers, funds sent from Starling Bank at 1.40am on 1st August. 

They are both showing today and credited today, 4th August. 

I’ll be doing a manual posting from now on at a later time of the day. Until now Skipton deposits always showed same day as posted, usually within a couple of hours.
Lesson learned. 

Skipton are not a clearing bank, so they will not see or credit payments until the next working day.

Maybe not a clearing bank, but other building societies can credit payments on the same day. 

SJMALBA

My payments to Skipton have, until now, always been dated the day sent, but I have a note on my spreadsheet that interest is from next working day?

schiff

chris_the_bee said:

Digital_Payback said:

badger09 said:

Skipton 
Thanks for the heads up on Skipton’s slow processing of incoming SOs early hours on 1st. I intended to set up SO from BoS from 1Sept but will fund by FP or debit card instead. 

I sent 2 automated payments to be credited to 2 separate Skipton regular savers, funds sent from Starling Bank at 1.40am on 1st August. 

They are both showing today and credited today, 4th August. 

I’ll be doing a manual posting from now on at a later time of the day. Until now Skipton deposits always showed same day as posted, usually within a couple of hours.
Lesson learned. 

Skipton are not a clearing bank, so they will not see or credit payments until the next working day.

I don't know why I'm the lucky one but both my RS deposits by FP (in advance and not by SO) from Santander were credited on 1/8 - just checked again.

trickydicky14

schiff said:

chris_the_bee said:

Digital_Payback said:

badger09 said:

Skipton 
Thanks for the heads up on Skipton’s slow processing of incoming SOs early hours on 1st. I intended to set up SO from BoS from 1Sept but will fund by FP or debit card instead. 

I sent 2 automated payments to be credited to 2 separate Skipton regular savers, funds sent from Starling Bank at 1.40am on 1st August. 

They are both showing today and credited today, 4th August. 

I’ll be doing a manual posting from now on at a later time of the day. Until now Skipton deposits always showed same day as posted, usually within a couple of hours.
Lesson learned. 

Skipton are not a clearing bank, so they will not see or credit payments until the next working day.

I don't know why I'm the lucky one but both my RS deposits by FP (in advance and not by SO) from Santander were credited on 1/8 - just checked again.

Both my Skipton RS's paid by SO from BOS and credited on the 1st Aug.

easysaver

Unreliable Skipton BS
My deposits made early hours on 1st Aug are now showing but dated 4th Aug.
Standing orders/scheduled payments have now been cancelled. I'll make manual payments during business hours, if I remember/have time etc.
Question for MSE's, does this happen with any other bank/building society who also offer RS's? It's the randomness of the process that irritates me more than the actual delay. Does anyone actually have an explanation for why some payments get credited on the day and others are only credited the following business day? I've not heard any explanation that holds up.
Very poor form from Skipton BS.

Digital_Payback

easysaver said:

Unreliable Skipton BS
My deposits made early hours on 1st Aug are now showing but dated 4th Aug.
Standing orders/scheduled payments have now been cancelled. I'll make manual payments during business hours, if I remember/have time etc.
Question for MSE's, does this happen with any other bank/building society who also offer RS's? It's the randomness of the process that irritates me more than the actual delay. Does anyone actually have an explanation for why some payments get credited on the day and others are only credited the following business day? I've not heard any explanation that holds up.
Very poor form from Skipton BS.

 It may be that Standing Order payments are treated differently from Faster Payment. The latter seem to be processed faster and on the same day. 

SH88SH88

Digital_Payback said:

easysaver said:

Unreliable Skipton BS
My deposits made early hours on 1st Aug are now showing but dated 4th Aug.
Standing orders/scheduled payments have now been cancelled. I'll make manual payments during business hours, if I remember/have time etc.
Question for MSE's, does this happen with any other bank/building society who also offer RS's? It's the randomness of the process that irritates me more than the actual delay. Does anyone actually have an explanation for why some payments get credited on the day and others are only credited the following business day? I've not heard any explanation that holds up.
Very poor form from Skipton BS.

 It maybe that Standing Order payments are treated differently from Faster Payment. The latter seem to be processed faster and on the same day. 

Digital_Payback said:

easysaver said:

Unreliable Skipton BS
My deposits made early hours on 1st Aug are now showing but dated 4th Aug.
Standing orders/scheduled payments have now been cancelled. I'll make manual payments during business hours, if I remember/have time etc.
Question for MSE's, does this happen with any other bank/building society who also offer RS's? It's the randomness of the process that irritates me more than the actual delay. Does anyone actually have an explanation for why some payments get credited on the day and others are only credited the following business day? I've not heard any explanation that holds up.
Very poor form from Skipton BS.

 It maybe that Standing Order payments are treated differently from Faster Payment. The latter seem to be processed faster and on the same day. 

Skipton seem to be allergic to Weekends, if you try to do an INTERNAL transfer on a Saturday it refuses and says only on weekdays,  so this gets forward dated to be actioned on Monday .....

gt94sss2

easysaver said:

Unreliable Skipton BS
Question for MSE's, does this happen with any other bank/building society who also offer RS's? It's the randomness of the process that irritates me more than the actual delay. Does anyone actually have an explanation for why some payments get credited on the day and others are only credited the following business day?

Its the only time I have experienced this from Skipton. In the past, standing orders have always been credited on the same day. I'm not sure why it's different this month. 

The only one that shows payments late in my experience is Furness.

jaypers

Sent a payment to Furness yesterday. Still not showing today but I’m guessing tomorrow morning as they don’t seem to be the quickest? 

WillPS

chris_the_bee said:

Digital_Payback said:

badger09 said:

Skipton 
Thanks for the heads up on Skipton’s slow processing of incoming SOs early hours on 1st. I intended to set up SO from BoS from 1Sept but will fund by FP or debit card instead. 

I sent 2 automated payments to be credited to 2 separate Skipton regular savers, funds sent from Starling Bank at 1.40am on 1st August. 

They are both showing today and credited today, 4th August. 

I’ll be doing a manual posting from now on at a later time of the day. Until now Skipton deposits always showed same day as posted, usually within a couple of hours.
Lesson learned. 

Skipton are not a clearing bank, so they will not see or credit payments until the next working day.

Not being a clearing bank is an irrelevance. Nationwide is not a clearing bank, nor are many of the fintechs. 

This is a 'slow old system' issue.