Faster Payments Experiences

pfpf

i am completely confused (again)

i thought A&L and Halifax were part of the FP scheme already?

transfered money from A&L to Halifax yesterday lunch time, A&L didnt even process the request until the evening as it was still sat in "pending payments" around 6pm last night.

the payment has not shown up at Halifax as yet.




in typical A&L fashion transfers from one A&L current account to another are still taking 3 days.

transfered from CA 1 yesterday lunch time, only then processed overnight. CA 1 showing available balance minus the transfer but no visible sign of money gone.

CA 2 (receiving) showing the transfer in, but not available until tomorrow.

this has always been the case with A&L, but how can they be part of the FP scheme if they take 3 days to process a payment to completion between 2 A&L current accounts?

is there a definative checker like the receiving one that tests sending sort codes?

thanks.

bristolleedsfan

Coventry Building Society is proud to be one of the first building societies to accept Faster Payments into customers' accounts.

The Faster Payments Service, introduced on 27 May 2008, speeds up certain electronic payments into your Coventry account. Funds transferred by Faster Payments will normally be credited to your account within 2 hours of being received by us. You need take no action to qualify for this service which is provided automatically.

Dagobert

pfpf wrote:

in typical A&L fashion transfers from one A&L current account to another are still taking 3 days.

A&L neither send nor receive Faster Payments yet.

Above transfer was carried out via BACS. If you instruct the transfer over the phone it will "only" take one day to arrive. I was once told that they treat phoned-in and online transfers the same but it obviously is not the case.

pfpf

Dagobert wrote: »

A&L neither send nor receive Faster Payments yet.

theres a surprise

what am i doing wrong? i have now sent a payment from a Lloyds CA to Barclays. this was about 2 hours ago and the payment hasnt even been processed at Lloyds yet.

i thought Lloyds were fully FP ready on the 6th?

not one succesful FP yet

is there an up to date article that shows who are up and running or when?

KeithEssex_2

pfpf wrote: »

theres a surprise

what am i doing wrong? i have now sent a payment from a Lloyds CA to Barclays. this was about 2 hours ago and the payment hasnt even been processed at Lloyds yet.

i thought Lloyds were fully FP ready on the 6th?

not one succesful FP yet

is there an up to date article that shows who are up and running or when?

Lloyds have been having problems with Faster Payments. The service was is up/down earlier in the week depending upon the Bank that you are sending to !

I assume that the amount was modest ?

whu

i was told it would be up and running on 11 june but wasnt - sent transfer on that day but still not received by other bank which is part of the new system - so i decided to use telephone banking and that went through in a few seconds - so perhaps that is the best method for the moment

pfpf

KeithEssex wrote: »

Lloyds have been having problems with Faster Payments. The service was is up/down earlier in the week depending upon the Bank that your are sending to !

I assume that the amount was modest ?

£250.00 and to Barclays. just checked and its still not processed and i now notice the date is set as the 15th June, hardly fast!

very disapointing but hardly unexpected from UK banks.

so not working:

A&L to A&L
A&L to Halifax
Lloyds to Barclays.

what could i try just to actually see a FP work?


where are people getting the info from about which banks are operating which system on a send/recieve basis? the APACS site is for checking receiving only.

Dagobert

pfpf wrote: »

where are people getting the info from about which banks are operating which system on a send/recieve basis?

BBC article - schedule

Milarky

You know, I think this delay is more deliberate than accidental? The Treasury announced in December 2003 that the OFT would have "an enhanced role in relation to payment systems, for a period of four years" - and they did this instead of legislating the banks to do something about payment times. ( see: http://en.wikipedia.org/wiki/Faster_Payment_Service#Background )

Now it's just struck me that the agreement in principle to bring out faster payments took 18 months even to reach - they then gave the techincial people 6 months more to report and in that time they said ''Nah! You don't want any o'that, you want somefing reeeally quick! Yeah, of course we can promise it in two years, no probs" Then they had exactly two years left in order to meet the original very generous goverment allowance of four years which the port-soaked members of the payments systems 'taskforce' had largely wasted. November 2007 was only ever the agreed 'implementation' date because it marked the expiry of the OFT's involvement.

The OFT seems to have played the role of the bendy cooper - of not using their powers to protect the public so much as getting their mates off on the lightest possible charges

The poor saps - they must have thought they were being really clever by stringing the public along and holding back inplementation for the full four years - instead of which they overshoot (and continue to straggle) the time.

If they had started about the job with a little more urgency they would not now have this embarrassment (though I admit that bankers don't suffer much from shame)

pfpf

Dagobert wrote: »

BBC article - schedule

thanks.

which is exactly the article i have bookmarked which is why i believed my above examples would work.

edit, i see A&L are not "sending" as yet. still annoying it takes them so long to send a payment from one A&L account to another A&L account.

Lloyds acording to that article should be sending.