bank transfer times?

28
Posted 8th Nov
Evening, My aunt transferred some money from her bank to mine this afternoon but its not showing in my account, Can larger amounts of money take longer to reach another account ? thanks
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Normally should be instant it it’s faster payment.

Have you checked the receipt and payment details
Account details all good, My aunt checked last night testing it with a £1 deposit first
Normally straight away
Bacs on a Friday is a different kettle of fish ,the system shuts down at 4 pm and resumes on Monday morning first thing,
Just read this


The receiving banks often take 2-4 days for funds to be released to customers because they are following what they call the “”three-day good funds model”, which basically means they'll hold the funds for three days to make sure it's not a fraudulent transaction.
I’ve never had a transaction pending even up to £500 I’m with Santander
parisp08/11/2019 22:32

I’ve never had a transaction pending even up to £500 I’m with Santander


checked online and seems it can take a few days, this will be a 4 figure sum
If she hasn't transferred that amount of money before you might have triggered the anti-fraud checks. Check whether the money has left her account - if not the bank may have blocked it and you need to speak to their fraud team.
tasape08/11/2019 21:29

Bacs on a Friday is a different kettle of fish ,the system shuts down at 4 …Bacs on a Friday is a different kettle of fish ,the system shuts down at 4 pm and resumes on Monday morning first thing,



we are not in the 90’s the banking system doesn’t shut down for the weekend
Ar460rn08/11/2019 22:39

If she hasn't transferred that amount of money before you might have …If she hasn't transferred that amount of money before you might have triggered the anti-fraud checks. Check whether the money has left her account - if not the bank may have blocked it and you need to speak to their fraud team.


Thanks , I believe she went into the bank today to transfer the money
fedorfan7708/11/2019 22:41

Thanks , I believe she went into the bank today to transfer the money


it should appear pretty much straightaway so it seems odd that it has not been credited to your account. if it doesn't turn up tomorrow morning, then it may have had a problem. as someone had already said, if it is an amount that the bank believe is suspect then they may block it. santander is really bad for doing this. they did this to me once and it was only £4,000. they didn't even tell me it was blocked, i had to call them to ask where the money is as i had expected it to arrive at my current account at another bank. i had to go into a santander branch with ID before they would send the money.

a colleague had a similar problem for just over £1,000 payment. i have never banked with santander since that time as they are useless if i can not get my money out and have to go into branch with ID every time I need to withdraw money.
tasape08/11/2019 21:29

Bacs on a Friday is a different kettle of fish ,the system shuts down at 4 …Bacs on a Friday is a different kettle of fish ,the system shuts down at 4 pm and resumes on Monday morning first thing,


i make bacs payments all the time, any time, and it still goes instantly on the weekends. it may take a couple of hours if you do it at say 10 pm or 11 pm.
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Given the large amount, it's highly likely going through some fraud / AML checks.
Check on Monday, if it's still not there go complain. Don't worry, it's covered under FSCS regulations if the bank "lost" it.
Fraud check probably,last time i paid a 4 figure some i got txts and emails asking to call the bank to pass security checks before they would release the funds.
The £1 check and following 4 figure transfer has trigger anti fraud protections. Are you sure it’s your aunt?
Oneday7709/11/2019 07:19

The £1 check and following 4 figure transfer has trigger anti fraud …The £1 check and following 4 figure transfer has trigger anti fraud protections. Are you sure it’s your aunt?


yes definitely, It's some inheritance from a family loss of mine
Take 2 hours if Lloyd’s bank going from Lloyd’s account into a Lloyd’s account most get there on same day to others
It entirely depends on how she has transferred it! What most people above are referring to when they it should be instant is a "Faster Payment" (FP), which normally goes in straight away but can take a few hours. However, another option is a BACS payment, which can take up to three working days... these aren't as common now that FP's are around but are still used. CHAPS payments are another option sometimes used for large amounts, as there is confirmation received once the payment is received... she would have had to pay for this type of transfer normally though so most people opt for BACS instead.

Based on what you've said I'd suggest it's probably gone by BACS. I wouldn't be too concerned at this stage, epecially if it's a larger amount as it may be subject to further checks before funds release.
Edited by: "Psychobunni" 9th Nov
Dannyrobbo08/11/2019 22:41

we are not in the 90’s the banking system doesn’t shut down for the wee …we are not in the 90’s the banking system doesn’t shut down for the weekend



Sorry to be the bearer of bad news but they are actually right, BACS payments do only go through on working days.
Thank you, it arrived today after speaking to my aunt. Thanks for all the help and advice. Much appreciated
mutley108/11/2019 22:53

i make bacs payments all the time, any time, and it still goes instantly …i make bacs payments all the time, any time, and it still goes instantly on the weekends. it may take a couple of hours if you do it at say 10 pm or 11 pm.


Not according to Bacs they only work Monday to Friday
tasape09/11/2019 16:11

Not according to Bacs they only work Monday to Friday


well they are definitely working over the weekend. if you have more than one bank account, you can test this yourself. i make BACS payments on the weekends very often and the money appears straightaway in the other account.
mutley109/11/2019 16:57

well they are definitely working over the weekend. if you have more than …well they are definitely working over the weekend. if you have more than one bank account, you can test this yourself. i make BACS payments on the weekends very often and the money appears straightaway in the other account.



That's not a BACS transfer then, it's a Faster Payment.. they are two different transfer types.
Psychobunni09/11/2019 09:25

Sorry to be the bearer of bad news but they are actually right, BACS …Sorry to be the bearer of bad news but they are actually right, BACS payments do only go through on working days.





BACS is pretty ancient now btw, transferring from one bank to another can and does go through over a weekend.
Dannyrobbo09/11/2019 17:47

BACS is pretty ancient now btw, transferring from one bank to another can …BACS is pretty ancient now btw, transferring from one bank to another can and does go through over a weekend.



Yeah I know, I've worked in banking for many years! Faster Payments certainly do go through very quickly and at any time on any given day, but the guy you replied to was specifically talking about BACS payments when he commented. BACS are still used quite a lot believe it or not. Certainly not as much as they were 10 years ago but they are still around

Anyways I was just trying to clear things up as there was some confusion in the thread. Some people do get a bit mixed up with the different types transfer or use their names interchangeably, but they are fundamentally different.
Psychobunni09/11/2019 17:31

That's not a BACS transfer then, it's a Faster Payment.. they are two …That's not a BACS transfer then, it's a Faster Payment.. they are two different transfer types.


i thought BACS transfers and faster payment were the same method of payment. Faster payment goes immediately any day of the week but it can take a couple of hours to come through in some instances.

just read up on BACS payments and they are used by companies to make regular payments. the OP's aunt would have used faster payment if she transferred money from her account into her nephew's.
Psychobunni09/11/2019 18:00

Yeah I know, I've worked in banking for many years! Faster Payments …Yeah I know, I've worked in banking for many years! Faster Payments certainly do go through very quickly and at any time on any given day, but the guy you replied to was specifically talking about BACS payments when he commented. BACS are still used quite a lot believe it or not. Certainly not as much as they were 10 years ago but they are still around Anyways I was just trying to clear things up as there was some confusion in the thread. Some people do get a bit mixed up with the different types transfer or use their names interchangeably, but they are fundamentally different.



I was just being sarcastic because at the time the chances are it wouldn’t have gone through by BACS transferring bank to bank and as its gone in today it can’t have been BACS
Edited by: "Dannyrobbo" 9th Nov
fedorfan7708/11/2019 21:20

Account details all good, My aunt checked last night testing it with a £1 …Account details all good, My aunt checked last night testing it with a £1 deposit first


thats why, your aunt sent what we call a "tester" payment, so what theyre basically doing is extra checks before those "large funds" are released.. classic fraud prevention payment
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