Then I suggest that the rules be changed as it makes no sense that this cannot happen in 2018.
Four types of payments can be processed through the Faster Payments Scheme:
• Single Immediate Payments
• Direct Corporate Access
• Forward-dated Payments
• Standing Orders (FPS Standing Orders not BACS Standing Orders)
Forward-dated Payments can go 7 days a week but Standing Orders can only go 5 days a week.
As a work around some banks submit Standing Orders as a Single Immediate Payment each time, however I agree with you that it is crazy and the whole system needs bring up to date!
Because it costs extra to pay someone to go in the machine room on weekends to put stacks of punched cards in the legacy rust.
I’d like to think they just do an internal P2P rather than cost themselves a fee to move it… but again legacy rust…
Hopefully Monzo do this also if someone did it not through payment of contacts