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Santander - Faster Payments

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Charlie Woody

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I know that some members have been upset at the lack of Faster Payments by Santander.

This morning I needed to transfer funds to SWIMBO, also with Santander, and when I looked online it appeared that the transfer would go via BACS (3-4 days). I phoned them up and a very polite and helpful guy (I think in N. Ire.) did the transfer over the phone. By the time I hung up and SWIMBO checked her account online the funds were there.

This guy said that from Jan 2012 all payments would be going by Faster Payments.

In the meantime this might be a useful work around for anyone needing funds to get transferred quickly. As you are no doubt aware you need to be very sure that the payee bank details are accurate, otherwise you could have a problem trying to trace the funds!!!
 

ProShop

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This is one of my biggest bones of contention with Santander, when the business accounts were with Abbey National cheques used to clear in 3 days, since Santander it now takes 5 working days, when I complained they claimed it was always 5 days................. and it's still 5 days. Most other banks have signed up to the faster payments last year but not Santander..........my feeling on this is they are holding on to our business money longer to make more on the short term lending markets :twisted: :twisted:
 

9fingers

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Nationwide have started using faster payments but only for sums totalling £1000 per day ( I think)

You may find that Santander do something similar.

Bob
 

RogerS

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No they chop and change all the time. Sometimes they do. Sometimes they don't. The only thing you can be 100% certain is that they won't tell you.
 

misterfish

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The last couple of times I've made smaller payments from Santander it has actually said that the payment would be sent by faster payments. I seem to remember that they only use it for amounts under £500 (maybe £250).

Misterfish
 

Charlie Woody

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The guy I spoke to said that they were testing the system at the moment before full roll out in Jan. This would make sense as there is no point unleashing new software until all the glitches are ironed out on a small sample first, otherwise if there are problems it could be a massive problem.

Hopefully their testing will go well and we will have a 20th Century service in 2012...........may have to wait for 21st Century service though!!!
 

woodshavings

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misterfish":2z68r877 said:
The last couple of times I've made smaller payments from Santander it has actually said that the payment would be sent by faster payments. I seem to remember that they only use it for amounts under £500 (maybe £250).

Misterfish
Thank goodness for that! I also had made a couple of payments when it said they would be sent via the fast payment system, but was beginning to believe I dreamed it since all recent payments were the usual 3 working days in hyperspace.
John
 

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