Payment Name Display Format in First Direct vs HSBC

vienly

I currently hold a bank account with HSBC, and I have noticed that when I make payments or transfers, only my surname appears on the recipient’s end. This has caused some confusion. Upon contacting HSBC, I was informed that this is a standard feature of their system, where only the sender’s surname is displayed.

In contrast, Chase includes both the first and last name when processing payments or bank transfers.

I am considering opening an account with First Direct and would like to know whether their system displays both the first and last name or follows HSBC’s approach of showing only the surname. If anyone has insight into this, I would appreciate your input.

wmb194

vienly said:

I currently hold a bank account with HSBC, and I have noticed that when I make payments or transfers, only my surname appears on the recipient’s end. This has caused some confusion. Upon contacting HSBC, I was informed that this is a standard feature of their system, where only the sender’s surname is displayed.

In contrast, Chase includes both the first and last name when processing payments or bank transfers.

I am considering opening an account with First Direct and would like to know whether their system displays both the first and last name or follows HSBC’s approach of showing only the surname. If anyone has insight into this, I would appreciate your input.

My last transfer from my FD account is displayed in my Lloyds statement as <surname> <forname>. My last transfer from my HSBC account is <surname> <first intital>... These were from sole accounts if that makes any difference.

vienly

wmb194 said:

vienly said:

I currently hold a bank account with HSBC, and I have noticed that when I make payments or transfers, only my surname appears on the recipient’s end. This has caused some confusion. Upon contacting HSBC, I was informed that this is a standard feature of their system, where only the sender’s surname is displayed.

In contrast, Chase includes both the first and last name when processing payments or bank transfers.

I am considering opening an account with First Direct and would like to know whether their system displays both the first and last name or follows HSBC’s approach of showing only the surname. If anyone has insight into this, I would appreciate your input.

My last transfer from my FD account is displayed in my Lloyds statement as <surname> <forname>. My last transfer from my HSBC account is <surname> <first intital>... These were from sole accounts if that makes any difference.

Thanks, my HSBC one is purely <surname> and not even a first name initial after it. I wonder if it could be because I once had opened a joint account many years ago and had been closed, but HSBC never updated it.
Think it would be easier to open a new bank account than getting HSBC to update their end.

AmityNeon

What are you trying to achieve? If Chase operates as you prefer, you could use them for sending payments, and still open/keep the First Direct account for another purpose (such as a switch offer and/or their Regular Saver).

For identifying payment sources, making liberal use of references is probably a simpler (and more flexible) solution rather than relying on how systems process sender names. You mentioned confusion being caused so it's unlikely you're being forced to use a unique reference (which can only help recipients identify payments anyway), meaning you're free to enter whatever you wish, including your first name.

vienly

AmityNeon said:

What are you trying to achieve? If Chase operates as you prefer, you could use them for sending payments, and still open/keep the First Direct account for another purpose (such as a switch offer and/or their Regular Saver).

For identifying payment sources, making liberal use of references is probably a simpler (and more flexible) solution rather than relying on how systems process sender names. You mentioned confusion being caused so it's unlikely you're being forced to use a unique reference (which can only help recipients identify payments anyway), meaning you're free to enter whatever you wish, including your first name.

It's purely to avoid confusion for when I send people money. Yes currently I do use the reference field and type my full name in there, but was hoping to find a solution to it.

Rich1976

We are with first direct and because our surname is quite long, it is shortened to the first few letters and then a gap and then both our first initials when it shows on the receipient’s account. Not had any issues in the few years we have been with them but I did query it and was just told it’s how the system does it.

The_Money_Saver_2

I’m with First Direct and my payments are shown as surname then initials. 

Miles86

I forget how many characters in total there are but certainly up until about 7 years ago it should be in the format (no idea if it has changed but I would be surprised):

SMITH AB&BC
SMITH AB

If it's too long remove an initial until either it fits or only one initial is left for joint accounts, or one for each party of a joint account, with an ampersand in between. If that still doesn't fit reduce the length of the surname until it does.

Joint accounts between parties with different surnames:

JONES A & SMITH B
JONES&SMITH

You get the picture.

First Direct was always the same but sentence case:

Jones A & Smith B 
Etc etc