Transfer from hsbc to monzo

Hello,

This is my 1st time to use monzo. My friend transfer 1500 from his hsbc to my monzo account. But the amount didnt reflect. But it was already deducted to my friend account. Its takes time to reflect? Any maximum inbound transaction per day?

TIA

I think HSBC perform their own checks on large amounts to new payees which unfortunately delays things.

Plus they’re pretty slow at transfers in general.

3 Likes

Have your friend call HSBC as it is stuck at security check department…

I had this problem when I transferred £3k to an unknown account, it was in the other account the next day around 10am

Hopefully the money will have turned up by now.

I’d get Ann Robinson’s number ready if I were you

@Mikisle15 In most cases these transfers should arrive within 24 hours, but if you ask your friend to get in touch with their HSBC branch and ask for the TRN (Transaction Reference Number) then forward that to us, we can track the payment as it comes in on our end.

I don’t know why Monzo keep publishing incorrect information about HSBC.

HSBC like other banks use faster payments so they are made within 2 hours, regardless of time of day unless a payment has been flagged for further checks - and then it’s paid by the end of the next working day (just like every other bank).

There is no 6pm, 9pm or 4 hour deadline.

So you’re saying Monzo have just made up this info?

I think it’s easily misread, actually. The two bullet points only refer to payments that HSBC subject to additional checks.

Most faster payments will just arrive within 2 hours with no additional checks.

The Monzo message could be a bit clearer.

(Emphasis mine)

I’m not sure what contradicts what we’ve published here.

These are HSBC’s timelines for when they perform these checks. It’s outside of the scope of the Faster Payments two hour deadline because the transaction was flagged inside HSBC. :slightly_smiling_face:

6 Likes

ETA: Damn, Rika beat me to it :sweat_smile:

The information Monzo publish quite clearly says that it relates to when a payment has been flagged.

"This is usually due to checks that HSBC are running on their side.

For these payments:

and then the bulletpoints follow.