Faster payments - who can send and receive

martin_amery

Just tried to make another fast payment from the Halifax, the best date I could get was Thursday 20 November

eeja

Stormy wrote: »

I thought this too, any idea why Nationwide are dragging their feet?

Will Nationwide be offering a Faster Payment service?

Nationwide is committed to the launch of Faster Payments. We are currently rolling out this service to FlexAccount customers and aim to be completed by the end of March 2009.

Does any customer have it rolled out yet?

Nationwide's reply to me was they are rolling out the service sort code by sort code so if your Flexaccount sort code has been enabled you will benefit by their use of fps otherwise not and you will have to wait

agsnu

eeja wrote: »

Nationwide's reply to me was they are rolling out the service sort code by sort code so if your Flexaccount sort code has been enabled you will benefit by their use of fps otherwise not and you will have to wait

I thought all FlexAccounts were on sort code 07-01-16.

theloft

grnglide wrote: »

I do not beleive that there is any requirement on banks to provide this service - this would be an agreement between you and the bank.

If that is the case, why did 13 major institutions dealing with 97% of all transactions, sign up to this service. The following is an extract from the APACS website:-
For further information contact the APACS Press Office on 020 7711 6316
The thirteen founding members are: Abbey, Alliance & Leicester, Barclays, Citibank, Co-operative Bank, HBOS, HSBC, Lloyds TSB, National Australia Group, Nationwide Building Society, Northern Bank (Danske Bank), Northern Rock, Royal Bank of Scotland Group. They account for over 97% of all payments made in the UK. Immediate Payments Ltd. (IPL), a VocaLink company is to provide the infrastructure for the faster payments service.

Incidentally if you are not sure if your bank or where you are sending the payment to, can accept FPS, you can check the sort code on the APACS site:- http://www.apacs.org.uk/sortcodechecker/

Speculator

martin_amery wrote: »

Just tried to make another fast payment from the Halifax, the best date I could get was Thursday 20 November

Are you sure the receiving sortcode accepts FP?

Stormy

agsnu wrote: »

I thought all FlexAccounts were on sort code 07-01-16.

Mine certainly is...!

HumanEnergy

agsnu wrote: »

I thought all FlexAccounts were on sort code 07-01-16.

Mine is 07-02-46 but my sister who has an account at the same branch is 07-01-16. There's also a 07-44-56 according to the Nationwide web site. I only opened my account a couple of months ago but my sister has had hers for a few years, so maybe the non 07-01-16 sort codes are new?

I used the APACS sort code checker and only 07-02-46 is enabled to receive faster payments so I guess I got lucky with my account!

Stormy

Yeh, typically mine bloody isn't (its like Icesave compensation all over again). 07-01-16 is not set up for fast payments yet.

chris1

Stormy wrote: »

07-01-16 is not set up for fast payments yet.

According to their telephone helpline, the vast majority of customers are on this sortcode and they have no plans to enable faster payments on it yet. (Perhaps all their IT staff are busy with plans to integrate Derbyshire and Cheshire...)

ginvzt

We opened our FlexAccount in May/June and we have 07-01-16... No FP!!!