Faster payments - who can send and receive

savetilibleed

I FP'd from LTSB to Barnsley BS on 4 Jan (a bank holiday). Athough the Barnsley account was not updated until 5 or 6 Jan, the Barnsley a/c transaction date was 4 Jan.

G_M

Originally Posted by G_M
I may be wrong but some banks seem to be able to handle FPs at weekends, and some schedule them for Monday. If this is so, maybe the front post could say which?

chris1 wrote: »

Happy to do this, but people will need to post their experiences!

I originally posted this when I saw NatWest's defaulted send date was always Monday even when setting up a FP on Fri eve.

As my subsequent post shows, I've now verified the 'idiosyncracy' of NatWest systems. See above.

So - Nat West DOES do weekend FPs.

Would still be interesting to know of any banks that don't though.

D1zzy

G_M wrote: »

Originally Posted by G_M
I may be wrong but some banks seem to be able to handle FPs at weekends, and some schedule them for Monday. If this is so, maybe the front post could say which?



I originally posted this when I saw NatWest's defaulted send date was always Monday even when setting up a FP on Fri eve.

As my subsequent post shows, I've now verified the 'idiosyncracy' of NatWest systems. See above.

So - Nat West DOES do weekend FPs.

Would still be interesting to know of any banks that don't though.

LTSB, Natwest. Halifax all work at the weekends
EGG does not receive at the weekend, and does not send ever.

Milarky

Apologies if this has been posted already but I just noticed that Lloyds and HBOS (same 'group') have raised the limit on single payments from £1000 to £2500 - and Abbey even does standing order payments (but not single payments) up to £250 now through Faster Payments

http://www.ukpayments.org.uk/faster_payments_service/value_limits/

pmhtuk

Have been with Nationwide for over 10 years, but unhappy with the stance on Faster Payments. (Need to send payments to another account regularly for bills, etc which is shared with my partner. Account is with Barclays and hasn't ever changed.) - (good service with them is why.)

Initially complained in September that I was unable to make a faster payment and advisor told me it was due to the sort code not being on the system for the faster payments. Was told unable to change account to one on the faster payment system.

Have since transferred all my accounts (Current account, Credit card, and savings account) from Nationwide to HSBC. Local Nationwide branch have known me for many years and were confused when I came to close the accounts when the balances were all 0. They agreed there were problems, but still were unable to offer an account on the 'faster payments' sort code.

No-longer with them, and since transferring to HSBC, faster payments have been fantastic - HSBC to Barclays yesterday (Sunday) at 9pm were done within seconds, and amount transferred was £800.

Great service, and HSBC also gave me a welcome gift (wine!) and also £50 for switching all the accounts/credit card to them.

Hurrah! :j

diddy_tong

Just contacted Smile re faster payments. Current limit for bill payments, money transfers etc is now £250; for standing orders it's £2000.

lulu999

As a Barclays Premier customer they'll allow you to send £30,000 through Faster Payments per day. (It has to be done as 3 x £10,000 though)

G_M

pmhtuk wrote: »

Have been with Nationwide for over 10 years, but unhappy with the stance on Faster Payments. (Need to send payments to another account regularly for bills, etc which is shared with my partner. Account is with Barclays and hasn't ever changed.) - (good service with them is why.)

Initially complained in September that I was unable to make a faster payment and advisor told me it was due to the sort code not being on the system for the faster payments. Was told unable to change account to one on the faster payment system.

Have since transferred all my accounts (Current account, Credit card, and savings account) from Nationwide to HSBC. Local Nationwide branch have known me for many years and were confused when I came to close the accounts when the balances were all 0. They agreed there were problems, but still were unable to offer an account on the 'faster payments' sort code.

No-longer with them, and since transferring to HSBC, faster payments have been fantastic - HSBC to Barclays yesterday (Sunday) at 9pm were done within seconds, and amount transferred was £800.

Great service, and HSBC also gave me a welcome gift (wine!) and also £50 for switching all the accounts/credit card to them.

Hurrah! :j

I've had similar discussions with N/Wide over the last 18 months and seen multiple promised 'launch dtaes' come and go.

They did let me open a new account with the FPs sort code, but it still limits you to £10 per transaction.

Like you, I've ytansferred my accounts.

dorsetlass

lulu999 wrote: »

As a Barclays Premier customer they'll allow you to send £30,000 through Faster Payments per day. (It has to be done as 3 x £10,000 though)

That's really useful to know - thank you. I'll double check with my branch of Barclays tomorrow.

lulu999

dorsetlass wrote: »

That's really useful to know - thank you. I'll double check with my branch of Barclays tomorrow.

Don't rely on your branch, check with your relationship manager, they'll know.