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Posted

From the 27/05/08 a new system of electronic bank payments called "The Faster Payments Service" has supposedly been replacing the old BACS system which as most of you probably know requires 3-4 working days for money to magic itself from one place to another in the UK. The new system promises transfers/payments within "hours".

 

Has anyone found this to be the case?

 

Despite checking that the sort codes support the new system I find that the banks are ignoring the new system. In fact it appears Halifax (HBOS) has gone out of its way to make sure that any transfer/payment you request online now only gets started at the end of the next working day! So, if you make a transfer/payment request on Friday morning (or late Thursday evening), nothing will happen until the end of Monday!!

 

Does this say something about the financial state of HBOS?? :unsure:

Posted
Makes you think how much they made by keeping our money for 4 days People are loosing respect for banks now i know i miss the bank manager you could chat to you cant ask a cashpoint nicely to let you go overdrawn until your pay goes in the following day

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