Advance dated faster payment on weekend

Aidanmc

If i set up an advance dated faster payment instruction, will the payment go out on a Saturday?

eskbanker

It's likely to depend on which institution you're sending from....

Aidanmc

yes, its Halifax.

Looks like they dont process future dated payments on weekends.

retiredbanker1

If it is that important for it to go on a specified date (and that date is a weekend or Bank holiday) then you have time to either cancel or amend the one you have already set up? (Pay it on the Friday or Monday)

Rob5342

It tends to only be modern banks like Monzo and Starling that do dated payments at the weekend. 

lr1277

A reminder from FP T's and C's, the money is only guaranteed to arrive at end end of 2 working days where day 1 is the day the money is sent.

So if you sent the money on Saturday, it might get sent Monday and only arrive sometime on Tuesday.

If you absolutely need the money in place by Saturday, to avoid any mishaps, you should send before any deadline on Thursday. If you do this, the money will arrive by end of Friday (assuming no failures in the IT used by the banks - see Barclays recently).

New_in_the_fens

Rob5342 said:

It tends to only be modern banks like Monzo and Starling that do dated payments at the weekend. 

Before Halifax systems were overtaken by Lloyds systems, Halifax would process internal payments on any day of the week. I can’t recall on external payments (probably not) and faster payments weren’t really a thing unless CHAPS.  They didn’t process direct debits was because the banking system generally didn’t do it on weekends. 

It was a big step backwards for customers at that time - having to write withdrawal slips by hand when the computer used to do it was like going back to the Stone Age - and deeply upset many customers unsurprisingly. 

Even now, if I do internal payments at the weekend it dates them for Monday, which is mildly irritating. 

clivep

Rob5342 said:

It tends to only be modern banks like Monzo and Starling that do dated payments at the weekend. 

Santander do.

lr1277

My mum sometimes sends me money from her Natwest account on a Sunday. When she does this, the money arrives a few minutes later in my FD account.

However on her statement, it will show the money as send on the following Monday (assuming it is a working day). I can't remember the date shown on my FD statement.

Aidanmc

Nationwide also seem to process future dated payments at weekends