Standing Orders On Weekend


(Simmy) #1

Why can’t standing orders be done on weekends if bank transfers can ?
The bank in question is Barclays
Thanks


(Jonathon) #2

I’ve had them go on weekends. I don’t know why some people can’t seem to.


(Simmy) #3

Depends on the bank ? I know barclays cant


(Jonathon) #4

The receiving bank you mean? I don’t know who my landlord banks with but my other standing orders work and they are for Santander and NatWest.

They come from my Monzo account.


#5

More relating to legacy banks, their systems are a bit older and only process them on the set days. :slight_smile: often hard coded to only complete during weekdays. All the transactions from things like Direct debits, standing order etc are “bulked” up and sent bank to bank overnight in a single ‘file’!

Half irrelevant fact, but when i worked at co-op their mainframe system was programmed wrong initially, so is always a year out on dates compared to other banks, so their systems have to extra process to add the the year back on!

TBH, where possible it’s always worth doing a faster payment anyway, there isn’t really much benefit to standing orders, unless you can think of any?


(Andy) #6

Standing orders generally go over the faster payment network now so it’s likely just a legacy thing with older systems not set up to process on weekends


(Jack) #7

Besides reoccurring payments I can’t :man_shrugging:t3:

Most reoccurring payments seem to be branded as SO?


(Jonathon) #8

Automated payments mostly. If I want to pay my rent as much as a direct debit as possible then SO automates it.

I have a DD that needs a NatWest account, which leaves at 6am or whatever on the day I’m paid. A SO means the money is there from around 3am.


(Andy) #9

I generally still use the BACS processing calendar to plan any payments as this will be what a lot of legacy systems use -


(Jonathon) #10

Oh and I’ve also got a SO that works weekends to halifax.

So that’s:

Santander
Halifax
NatWest

Who all do SO on weekends.


#11

Thats interesting, was just on faster payments website, thinking they may of been working towards a direct debit or SO replacement, to use the faster network…

Looks like they aren’t : http://www.fasterpayments.org.uk/about-us/types-of-faster-payments


#12

HSBC too.

I have an SO to my gf’s and mine joint HSBC account for bills etc that goes over on the 1st of the month - and that went over on the Sunday this month.


(Jonathon) #13

So it looks like this affects a minority of major banks.

Is Barclay’s confirmed as a no?


(Simmy) #14

Yep my money came in on the first working day of the month ( from Barclays to monzo )


(Gareth) #15

I have 2 that go to Lloyds accounts and both go out and are received on bank Holidays / weekends


#16

Barclays say if you chose a weekend it’ll go out the next working day


#17

I’m wondering if banks check the sort code, and if it’s an internal account complete the transaction anyday as a normal transfer to bypass the SO route, guessing that is a cost saving. So this is why sometime people are seeing weekend transactions :slight_smile:


(Jonathon) #18

Indeed. Seems odd that others can and do.


(Jonathon) #19

Only one of mine is a personal one, but then it’s not internal as it’s bank to bank.


#20

It is not odd that Barclays say that. Under the Faster Payments Scheme there are different types of transaction. The typical immediate one off payments can be sent 7 days a week, certain types of forward dated regular payments are only sent 5 days a week. The reason why Barclays can’t send them when other banks can is that Barclays are using the correct transaction type and following the letter of the scheme, whereas other are transmitting the payment as if it was a regular transaction type with relevant field codes to enable it to go 7 days a week.