Faster payments - who can send and receive

chris1

ps2659 wrote: »

Is there a limit on faster payments from tesco to Lloyds I need to send over £10000. if limit can you send several payments on the same day. ?

All faster payments have a limit of £10000. Whether you can send more than one per day depends on the bank (in this case Tesco) which someone else will have to answer, I can't see it mentioned on their website.

Milarky

chris1 wrote: »

All faster payments have a limit of £10000. Whether you can send more than one per day depends on the bank (in this case Tesco) which someone else will have to answer, I can't see it mentioned on their website.

A potential solution is to use a third account which also accepts and can send faster payments (eg a First Direct, HSBC, Barclays etc) to pay in and then pay out immediately to the final destination. (I suspect you can make repeat payments @ 10K to the same account if they allow you to do it for different accounts on the same day.)

superstar_2

This post needs to be made sticky!

mary

If you send a payment from Lloyds it goes normal 3-4 days, but just discovered if you ring up and do it over the phone, it goes instantly.

chris1

Apparently ING can now receive faster payments so I have updated the first post.

HTH

chris1

mary wrote: »

If you send a payment from Lloyds it goes normal 3-4 days, but just discovered if you ring up and do it over the phone, it goes instantly.

Apparently it sometimes works when they do it at the call centre and sometimes doesn't! Faster payments online don't seem to be working again.

Be_Happy

Not only can HBOS not make faster payments, but they make you wait for a date which suits them to actually select for the transfer. I went online to transfer money on Sunday. It wouldn't accept a transfer date of Monday, but would only accept Tuesday and the money only arrived in my other bank account today, Thursday.

chris1

Although Northern Rock can receive faster payments, apparently the money can't be accessed for two days.

If you send a faster payment it appears under "uncleared transactions" on the same day, the following day it disappears altogether (!) and on the day after that it finally appears on your statement as a cleared transaction and can be accessed if necessary.

somnerd13

Why on earth have Lloyds stopped doing faster payments on internet banking? Not only this, but last time we made a payment the Lloyds website said that Faster Payments could be done via Phonebank, so we did that only to find that it didn't send as a faster payment. :rolleyes:

chris1

somnerd13 wrote: »

Why on earth have Lloyds stopped doing faster payments on internet banking? Not only this, but last time we made a payment the Lloyds website said that Faster Payments could be done via Phonebank, so we did that only to find that it didn't send as a faster payment. :rolleyes:

Apparently the only way to do it is to call and speak to a person, and specifically request a faster payment. Even so, they can't always do it...