Faster payments - who can send and receive

G_M

I know that what banks SAY about faster payment and what they DO are different! but just for the record, this is what they say

The whole point of this thread is to report what banks DO, not what they say!
See the 1st post:

"These are only listed where it's actually been tested, not just announced by the bank - "

dorsetlass

I sent a payment today from Tesco to Lloyds TSB and it appeared literally within minutes in my 'available balance' in Lloyds. I was completely surprised to see it there, as had logged on to Lloyds check something else, but the sum was absolutely 100% in my account within minutes. Haven't yet tried to use it, but was very impressed to see it there.

Baldur

dorsetlass wrote: »

I sent a payment today from Tesco to Lloyds TSB and it appeared literally within minutes in my 'available balance' in Lloyds. I was completely surprised to see it there, as had logged on to Lloyds check something else, but the sum was absolutely 100% in my account within minutes. Haven't yet tried to use it, but was very impressed to see it there.

If it's in your LTSB account, it can almost certainly be used immediately - I sent an FP to one of my LTSB accounts that require a minimum monthly funding yesterday, immediately transferred it through my two other LTSB accounts and then out to an account with a different bank all within a few seconds.

cottager

Chris, the URL for the sortcode checker at the foot of the first post has changed to:
http://www.ukpayments.org.uk/sort_code_checker/
(and APACS is now UK Payments).
The old URL automatically goes through to the new one at the moment, but it may not work like that forever.

simpleguy_blr

Hi,

I recently opened a LTSB Classic Vantage account. I have a question regarding their standing orders.

If you setup a standing order from LTSB to say HSBC would this sent out using faster payments or the usual three day BACS method.

Can someone confirm this for me please.

Many Thanks

G_M

simpleguy_blr wrote: »

Hi,

If you setup a standing order from LTSB to say HSBC would this sent out using faster payments or the usual three day BACS method.

Can someone confirm this for me please.

This thread is for reporting banks' implementation of Faster Payments. Rather than posing a question - give us the answer! Poor Chris1 has to plough through all these posts in order to maintain the 1st post and keep us all up-to-date!

If you have a problem/query: start a new thread.

typistretired

Halifax are very inconsistent with their faster payments. Yesterday they allowed me to make faster payments 5 times @ £500 total £2,500 today only allowed me to make 4 times @ £50 total £200. Trying to transfer my matured bond but having to do slowly, day by day, ridiculous

chris1

Thanks for all your updates folks, I have updated the first posts.

rb10

chris1 wrote: »

- Halifax (but not always and amount limited) (part of Lloyds Banking Group)
[...]
* Those above marked with an asterisk will send faster payments outside banking hours e.g. during a weekend.

I have sent FPs from Halifax before outside of banking hours. The highest amount that I have done is £2100 (I didn't try more than that), so I imagine that their £2500 published limit is accurate.

evenasus

I made a single instant payment yesterday from my Nationwide Flex account. Sort code 07 01 16.
Silly me though, sent the payment to Coventry BS 50 Plus eSave 5. Doh! that was closed last year and transferred to eSave 6.

The Nationwide page said that it had been accepted by the receiving bank.
So it was - but it bounced back an hour later.
I've just made the payment again - to the correct account this time - eSave 6.
Will check tomorrow to see if it shows up in my Coventry account.

Nationwide's lastest Transfers & Restrictions. http://www.nationwide.co.uk/internetbanking/Help/help_transfer_limits_restrictions.htm