What time of the day is your account updated with incoming payments

hustle90

If I'm expected a payment going into my account on a particular day, when will that payment show in my account. Is it when the banks open at around 8am or does this get updated at 12am, as soon as it turns that day?. Thanks

peter999

hustle90 wrote: »

If I'm expected a payment going into my account on a particular day, when will that payment show in my account. Is it when the banks open at around 8am or does this get updated at 12am, as soon as it turns that day?. Thanks

I think payments into my HSBC account show around 5am, definitely not 12am.

peter999

yellowmonkey

3am for the Halifax.

ym

efallai

I've logged in at about 03:00 on my payday before now just out of curiosity and it hasn't been there but at 06:00 it has, so im guessing somewhere between there for HSBC...

squarehead99

efallai wrote: »

I've logged in at about 03:00 on my payday before now just out of curiosity and it hasn't been there but at 06:00 it has, so im guessing somewhere between there for HSBC...

theres no set times for bank transfers. depends on a number of things. one person at same branch can get paid several hours before someone else at same branch.

Bluebirds1975

Each bank will do a scheduled run at some point during early AM. It does vary from bank to bank but by 6am nearly all transactions for that day will be shown as available

dexters_mum_2

I had a bit of a 4am panic recently and got up to transfer money across from my joint acc to my sole acc.

My salary was due to be credited and it wasn't there at 4am but by 6am, it was.

That's Citibank by the way!

ken_and_dot

I find the above replies very interesting. I am constantly having trouble with HSBC on my business account. I find that they have bounced payments on a particular day even though the closing balance shows sufficient available funds.When I queried this they told me that debits are processed in the early morning whilst credits, usually credit card receipts from my customers, are only processed later in the day. They then charge me heavy penalties for the payments they have bounced. By processing the debits first they show an unauthorised overdrawn position even though the credits they process later in the same day are more than sufficient to meet the payments. As these credits are from credit card sales the funds are immediately available when they hit my account.

olly300

ken_and_dot wrote: »

I find the above replies very interesting. I am constantly having trouble with HSBC on my business account. I find that they have bounced payments on a particular day even though the closing balance shows sufficient available funds.When I queried this they told me that debits are processed in the early morning whilst credits, usually credit card receipts from my customers, are only processed later in the day. They then charge me heavy penalties for the payments they have bounced. By processing the debits first they show an unauthorised overdrawn position even though the credits they process later in the same day are more than sufficient to meet the payments. As these credits are from credit card sales the funds are immediately available when they hit my account.

Banks have got into trouble with doing this. I remember an entire program about 4 years ago based on Natwest basically causing a small business man cash flow problems for doing precisely this. They ending up having to pay him back thousands of pounds. Lloyds TSB was also caught doing something similar.

So they have now all changed their terms and conditions so they can apply debits before credits to both personal and business accounts. The only thing you can do if you are frequently in this situation is to get an authorised overdraft, either way the banks make money.