Same day bank transfer

FionaFiat · 21 May 2018 at 10:19PM

Sold an item to a trade in website, and they emailed me around 4.30pm today stating payment has been sent via same day secure bank transfer, well it’s 10pm now and money is still not in my account, anyone know how long it usually takes for a fast bank transfer to show up in my account? Thanks

FionaFiat · 21 May 2018 at 10:57PM

They did say it may take 1 business day to clear, would that mean that it would take 1 business day to show up on my online banking account Summary? Thanks

agrinnall · 22 May 2018 at 9:28AM

There are only two same day transfer facilities, CHAPS and Faster Payments. CHAPS does guarantee same day but at a cost (usually £20 - £40) and has a cut off time, and it's likely that 4:30 would have been too late anyway. It's much more likely that Faster Payments was used, and while many banks will in most circumstances complete the transfer within 2 hours, the regulations only require it to be completed by the end of the next business day. You need to see if it arrives today, and if it doesn't make a complaint tomorrow.

Same day bank transfer

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