Bank transfer on a Sunday?


(Simmy) #1

Hi guys.

My money will be coming in for the month on the 1st from my advocates barclay account, however it falls on a Sunday… Will i have to wait until monday for it or not ?

Thanks


#2

Nope. Faster Payments and Bank Transfers are the same anytime 365 :slight_smile:


(Andre Borie) #3

Monzo is doing Faster Payments automatically, but nothing guarantees the sending bank is doing the same. I’ve heard stories where some banks only do FPS on weekdays during work hours (presumably they’re doing them manually :joy:).


(Gareth) #4

@Rjevski is right - (Barclays are old) - instant transfers are instant / 2 hours but standing orders only run on weekdays :sob:


(Simmy) #5

Is a standing order a recurring bank transfer for a set date/time ?


#6

What reason is the reason for not processing standing orders/dd on sundays other than they never have before?


(Simmy) #7

Im interested to know this.
Surely a standing order is the same as a bank transfer ( out of one account and into another )


(Gareth) #8

Yep. I can only suggest you use one of the frequencies that lets you pick the day (opposed to date).

Being legacy?
Using a different (internal) system for scheduled payments vs on-demand ones?
Not enough push from users to change it - other old banks are the same…


(Andre Borie) #9

What reason is the reason for not processing standing orders/dd on sundays other than they never have before?

Hiring someone to come in and put stacks of punched cards in a reader on weekends would cost extra.


#10

FPS have different rules for processing instant one off payments and advance recurrent payments like standing orders etc. While most of FPS is potentially 7 days a week some is restricted to weekdays only


#11

I just found out TSB don’t run standing orders at weekends either. Eh??


(Andre Borie) #12

Is there a technical reason for this or is it legacy bullshit? I’ve always thought that FPS is instant and all the logic behind a standing order is purely on the sending bank’s side (as far as FPS is concerned, it’s as if the payment was sent immediately, even though it could’ve been actually a standing order that was just due to be sent).


#13

It depends what transaction type it is, so legacy BS to me. If they can send some transaction types instantly I see no reason why all of them can’t be 🤦🏼‍🤷🏼‍♀️


(Simmy) #14

Is it just Barclays that don’t do standing orders on weekends ?


#15

Handelsbanken UK, Fidor UK, most building societies and pretty much all credit unions, last time I heard (in February).