New speedy system for bank transfers launched; account to account in under 2 hours

YorkshireBoy

amiehall wrote: »

where your 9 digit account number is X012345678

That's a 10-digit number Amie.

I assume you meant X12345678 ?

msaquib

Cloudane wrote: »

Nope, still says 3 working days here. (From HSBC, which transfers to others e.g. Natwest instantly)

This is on sort code 72-50-05

I transferred £30.00 from FD to A&L yesterday and it was there immediately.

I just tried to make another payment through FD and it showing that the money will be credited the same day. The bank sort code I m using ia: 72-50-01 which is showing on my cheque book.

MS

Cloudane

Aye, sounds like they're doing it one sort code at a time. Hope we get the -05 one soon!

amiehall

YorkshireBoy wrote: »

That's a 10-digit number Amie.

I assume you meant X12345678 ?

hah errrm yeah

Cloudane

Just did a transfer to my -05 sort code A&L account and it's working! Yippee!

Not that it can be bothered to appear on the transactions list yet (what an awful system they have) but it appeared in the balance and available balance immediately.

gilligansyle

Do different banks have different timescales for this.

A transfer from a HSBC account 40-29-xx to a NatWest 60-01-xx still took 3 days, from Natwest to HSBC took 1 day.

Milarky

gilligansyle wrote: »

Do different banks have different timescales for this.

A transfer from a HSBC account 40-29-xx to a NatWest 60-01-xx still took 3 days, from Natwest to HSBC took 1 day.

HSBC ought to be instant but can take longer (to send) if requested after 8pm on a work day or at all at the weekend. This is something they should eliminate in due course as the FPS is promised to operate '24/7' - implying that the banks must make use of it '24/7' also. Did you merely experience a delay in sending which took 3 days to leave your HSBC account, or was it taken instantly but still arrived after 2/3 days?

Cloudane

Looks like sending from A&L is still non-instant. It says the funding will go out tomorrow... after which some time in the distant future it'll appear in the other bank!

redrabbit29

I don't understand all this. As far as I was aware, it should all be up and running now?

I had some money transfered yesterday from Nationwide -> HSBC. It's not here yet so guess it's going to take the normal 3-4 working days. Any ideas why?

Baldur

redrabbit29 wrote: »

I don't understand all this. As far as I was aware, it should all be up and running now?

I had some money transfered yesterday from Nationwide -> HSBC. It's not here yet so guess it's going to take the normal 3-4 working days. Any ideas why?

See HERE:

"Will Nationwide be offering a Faster Payment service?

Nationwide is committed to the launch of Faster Payments. We will be introducing this service to FlexAccount customers throughout 2008, you will be notified when this facility becomes available on your account."