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  • FIRST POST
    • Smitty
    • By Smitty 12th Apr 18, 10:24 AM
    • 341Posts
    • 67Thanks
    Smitty
    Faster Payments - No longer Instant
    • #1
    • 12th Apr 18, 10:24 AM
    Faster Payments - No longer Instant 12th Apr 18 at 10:24 AM
    Hello

    Has anyone else noticed that faster payments are no longer instantaneous?

    I used to be able to send the money from one bank, log in to the target account and see the money. (Apart from Tesco bank)

    In the last week or so it seems to take 5-10 minutes. I've noticed this with TSB, Halifax & HSBC.

    Kind Regards
Page 1
    • PeacefulWaters
    • By PeacefulWaters 12th Apr 18, 10:30 AM
    • 8,318 Posts
    • 10,670 Thanks
    PeacefulWaters
    • #2
    • 12th Apr 18, 10:30 AM
    • #2
    • 12th Apr 18, 10:30 AM
    They were never guaranteed to be instant, even though most are and continue to be.

    It's perfectly possible, and legal, for a FP sent on the Thursday evening before good Friday to turn up by close of business the following Wednesday.
    • Smitty
    • By Smitty 12th Apr 18, 10:36 AM
    • 341 Posts
    • 67 Thanks
    Smitty
    • #3
    • 12th Apr 18, 10:36 AM
    • #3
    • 12th Apr 18, 10:36 AM
    Yes I am aware they were never guaranteed, I'm just highlighting a notable change in the last week or so.

    I'm interested to see if anyone else has experienced this?

    It's rather annoying when shuttling money around.
    • mgdavid
    • By mgdavid 12th Apr 18, 10:46 AM
    • 5,663 Posts
    • 4,996 Thanks
    mgdavid
    • #4
    • 12th Apr 18, 10:46 AM
    • #4
    • 12th Apr 18, 10:46 AM
    Yes I am aware they were never guaranteed, I'm just highlighting a notable change in the last week or so.
    I'm interested to see if anyone else has experienced this?
    It's rather annoying when shuttling money around.
    Originally posted by Smitty
    I had an absolutely instant one within the last week.
    I also had a paypal to bank tx (which is usually minutes) take from Saturday to Wednesday.
    Who knows? It's no big deal as by design, I don't run any of my finances or accounts down to the wire...
    The questions that get the best answers are the questions that give most detail....
    • PeacefulWaters
    • By PeacefulWaters 12th Apr 18, 10:51 AM
    • 8,318 Posts
    • 10,670 Thanks
    PeacefulWaters
    • #5
    • 12th Apr 18, 10:51 AM
    • #5
    • 12th Apr 18, 10:51 AM
    Yes I am aware they were never guaranteed, I'm just highlighting a notable change in the last week or so.
    Originally posted by Smitty
    Be honest. Your title and opening sentence clearly displays/implies a thinking that they are always instant.
    • Smitty
    • By Smitty 12th Apr 18, 11:28 AM
    • 341 Posts
    • 67 Thanks
    Smitty
    • #6
    • 12th Apr 18, 11:28 AM
    • #6
    • 12th Apr 18, 11:28 AM
    I'm not trying to be anything other than honest.

    In my experience until last week, HSBC, Halifax & TSB have been instant 99% of the time. But I can read... and am aware they are 'usually processed within 2 hours'.

    None of my last 10ish transfers have been instant.

    Thanks mgdavid, Im hoping its just a blip
    • Superscrooge
    • By Superscrooge 12th Apr 18, 11:31 AM
    • 1,089 Posts
    • 786 Thanks
    Superscrooge
    • #7
    • 12th Apr 18, 11:31 AM
    • #7
    • 12th Apr 18, 11:31 AM
    If I have already set up the payment details on my account then the payments are usually instant.

    The only time I sometimes experience a delay is when making the first payment to someone I have never paid before
    • pfpf
    • By pfpf 12th Apr 18, 11:53 AM
    • 4,202 Posts
    • 2,882 Thanks
    pfpf
    • #8
    • 12th Apr 18, 11:53 AM
    • #8
    • 12th Apr 18, 11:53 AM
    as per the OP and apart from Tesco (never instant) I did notice TSB took a "little" longer than the usual "instant" this week. I do a big shuffle once per month and didn't notice any other differences.
    pfpf, the avatar previously seen as "the Monkey".
    • pmduk
    • By pmduk 12th Apr 18, 12:55 PM
    • 8,991 Posts
    • 6,723 Thanks
    pmduk
    • #9
    • 12th Apr 18, 12:55 PM
    • #9
    • 12th Apr 18, 12:55 PM
    Last weekend was the end of one tax year/beginning of another. It's not unreasonable to presume transaction volumes have been substantially higher.
    • djpailo
    • By djpailo 12th Apr 18, 1:26 PM
    • 448 Posts
    • 154 Thanks
    djpailo
    I have just transferred from Santander to TSB to examine this and it does seem slower than what I usually expect, at least between these two banks. Normally it appears after a minute or so, but 10 minutes and still "waiting".

    Maybe some banks are doing some maintenance work? Doesn't really matter anyway, its still well within the specified time constraints.
    • Heng Leng
    • By Heng Leng 12th Apr 18, 1:39 PM
    • 4,606 Posts
    • 1,458 Thanks
    Heng Leng
    TSB seem to be migrating off the Lloyds platform recently.

    TSB > Halifax would have been an internal transfer prior to that and likely instant.

    Also, HSBC have never been the fastest IMO
    • S_uk
    • By S_uk 12th Apr 18, 2:45 PM
    • 59 Posts
    • 14 Thanks
    S_uk
    I did notice a few days ago that my TSB transfer wasn't instant, which it always has been for me previously.
    • eschaton
    • By eschaton 12th Apr 18, 4:23 PM
    • 1,794 Posts
    • 1,578 Thanks
    eschaton
    The only Bank I have found not to be more or less instant was Coop Bank.
    • Hattie625
    • By Hattie625 12th Apr 18, 4:45 PM
    • 777 Posts
    • 657 Thanks
    Hattie625
    I did a transfer last night from my Santander 123 Lite to my TSB Classic Plus. Only 80 and a frequent (at least weekly) transfer route of mine (in order to keep my TSB topped up to 1500). It was noticeably slower than the usual pretty much instant transfer. Well within an hour, estimate about 10 minutes.
    • Flobberchops
    • By Flobberchops 12th Apr 18, 6:19 PM
    • 804 Posts
    • 616 Thanks
    Flobberchops
    It's not such a crazy conspiracy theory. I believe the FPS has changed recently - I noticed that when making a series of transfers some produced the usual "funds should be available to the recipient" message while others were coming up with something along the lines of "your payment will be released soon, no further action is required from you". I didn't know other banks were doing this too. I will have to investigate further before I can say anything concrete!
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
    • 8i6daddy
    • By 8i6daddy 12th Apr 18, 6:42 PM
    • 86 Posts
    • 59 Thanks
    8i6daddy
    I use Starling Bank and Monzo and if I send an FPS to them from RBS/Barclays/Clydesdale/TSB... 99% of the time my Starling/Monzo apps notify me i've received money before the on screen notification from the sending bank confirms the payment has even been made!!

    They are both consistently quick sending/receiving money.
    • datlex
    • By datlex 12th Apr 18, 6:49 PM
    • 1,762 Posts
    • 1,660 Thanks
    datlex
    I noticed they were slow today. Normally can do in a few minutes. Today took a few hours.
    • No_6
    • By No_6 12th Apr 18, 10:24 PM
    • 655 Posts
    • 136 Thanks
    No_6
    Russian's

    • northwalesd
    • By northwalesd 12th Apr 18, 10:30 PM
    • 292 Posts
    • 187 Thanks
    northwalesd
    I've done several FP this week, all into Halifax but from several sources (Lloyds, Tesco, Natwest), all have been 'instantaneous' (in that the money is in the Halifax account by the time I've logged into the Halifax app some 20 or so seconds later).
    • OceanSound
    • By OceanSound 13th Apr 18, 2:15 AM
    • 360 Posts
    • 54 Thanks
    OceanSound
    Unusual delay in faster payments
    .. But I can read...
    Originally posted by Smitty
    agreed. Some members here can be full of themselves. I.e. condescending and patronizing. I think you've told where to go.

    Re. 'Faster payments'- did have issues with transfer from first direct to halifax, when I did a small payment followed by a large payment. Also, a small payment afterwards took longer than 'usual'. Large payment took longer than 2 hours.

    You may be able to challenge the wording of the terms, as the wording 'usually' is really vague. I.e. Legality is questionable here. Banks should really highlight that it may take up to the close of business the next working day, but they harp on about 'usually' taking no longer than 2 hours. Misleading? of course.

    One poster mentioned maintenance.this usually happens in the early hours of the morning. Yesterday, when logging on to nationwide internet banking they had a warning about upcoming maintenance work and faster payments being affected. Hats off to nationwide for the warning.

    Some poster's mention not running their finances to the wire. It's alright for some isn't it?
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