Faster Payments Experiences

oldandgrumpy

Barclays are very quick now. Abbey aren't. BUT... Barclays say payments to Barclaycard are instant...hey, another 4 days free credit!

Dagobert

I just attempted to make a Faster Payment to my Tesco Internet Savings Account from Lloyds TSB via phoneline.

The tesco account is capable of sending and receiving Faster Payments, which I have been doing successfully from HSBC.

However, TSB's system does not recognize this sort code as a Faster Payments destination and will send by BACS.


I was told that TSB will be able to send Faster Payments via online banking from the end of August.

influence

My experience using the HSBC faster payments has been good. Everything goes through within the 2 hour frame that they said (to e.g. Natwest and HSBC affliated subsidaries). Citibank has yet to roll out the scheme and it takes days for similar transfer.

I guess the scheme will be 'fully' launched by year end. Hurrays to days more of credit and smoother transactions.

ukmike

I was told that TSB will be able to send Faster Payments via online banking from the end of August.

They've been doing it for weeks now!

gemmabe

ukmike wrote: »

They've been doing it for weeks now!

Half true. I just tried for the first time to send a FP from LTSB to Barclays and another to Halifax...both came up with a payment date of 18th Aug! So I called telephone banking to do it. Did question the advisor and she said the faster payments service has been temporarily withdrawn from online banking due to internet fraud problems :rolleyes: Nice of them to let us know, huh!

ukmike

Did question the advisor and she said the faster payments service has been temporarily withdrawn from online banking due to internet fraud problems

Well it's still working OK for me so i think she's mistaken.

Milarky

greyskittles wrote: »

I sent a £1 tester which got there the following working day. .

That's how it works - when it works; Faster Payments, but not processed during the weekend, only Monday to Friday.

I am slightly bothered about this limitation imposed by the banks. The service is 'marketed' as '24/7' yet some banks (all banks?) only process single payments five days a week - so when are they intending to stretch themselves so we can make full use of it?

The fact that you can't send from Lloyds now is because they have disconnected from FP since 8th August. [Let's hope that in addition to the technical lessons they have picked up from the experience they also develop the ability to comminucate better with their customers.... eg different and contradictory - or simply uniformed replies - depending on who you speak to..]

anniecave

I sent a payment from LTSB to my new Birmingam Midshires a/c on Thursday 14th and it arrived same day so I guess it is working again

Dagobert

I received a leaflet from TSB suggesting that FPs are now available online and over the phone.

However, all my attempts to make transfers to accounts that are capable of receiving FPs have been classed as non-FP-capable:

• A&L 72-50-03
• Barclays
• RBS
• Tescos Internet Saver (RBS)
• FirstDirect

I can send FPs to all of these accounts from FirstDirect and RBS.

I have tried it both online and over the phone. To-day, I was told FPs were just for bill payments. eh?

mary

On 10th September I phoned Lloyds TSB to send £1000 and it was sent FP and was there within a couple of hours. That was a payment to myself, not a bill.