im looking at buying a car but need the bloke to have money monday.

hes with barclays and so am i if i transfered money on monday will he see it straight away?

 

if u go into the branch and pay it into his account with cash it will be immediate.

 

Yes

 

As said internal transfers are imediate as long as you have cleared funds.

 

So how long should it be bank to other bank. I paid cash to my bank via another on Thursday and it still isn't showng.

 

as of last tuesday iirc direct transfers and bank to any other bank now transfers almost immediatly. i alway paid my staff via bacs, and had to do it 3 days earlier than payday to ensure it was there, not now- its instant, but for some reasnon the banks are not telling their customers this, mine didnt either till i asked them when i had heard about the banking software changes.

 

if its the 1st time you have transfered money to this account it will not be instant and can take upto 7 days to show!!!

 

actually the correct answer may be NO,if he has not transfered funds to this account in the past it will not be instant.been there,done that,had the 7 days wait,with barclays buying a group A escort,got the T-shirt,it didnt fit!!!

 

do they only do XXL tim ?

 

Thats not been my experience, a guy at work rang Braclays & transferred Ł4K from his account to mine & he was told it would clear the same day. Never had any money from his account previously. I took the money out the same day.

 

Its probably down to the Faster Payments Service thats been recently introduced. The banks are currently ramping up payment volumes/values and should hit 100% by August.

 

Yep - Internal transfers within Barclays (account dependant) should complete the same day.

 

well thats what i was told,so transfered it while collecting the car,didnt show in his account for 7 days,but his mate whatched me do the transfer and confirmed over the phone so he let me take the car,was last year and was Ł20k.

 

Internal transfers from Barclays to Barclays SHOULD be instant! In reality they rarely are!

And an important note [I know it doesn't matter on this occassion as it's YOU putting money in HIS account ] Transferred money [on a Barclays to Barclays transfer - no idea about other bank's policies] can be reclaimed within 24 hours!!

I found this out after meeting a bloke halfway to Somerset to deliver a Mazda 6 and take his Vecta in P/ex, he'd come to see it the day before so it was a case of going out the way to help, not being dodgy.

He transferred Ł6k which was shown as paid in the morning then the next day was shown as being taken back the same night!!

Obviously I was absolutely fucking livid and was ready to drive straight down to the address he gave in Somerset to get the car back! But it turned out it was a banking error [one of many] and that was when they informed me that they could remove it within 24 hours [which was also them trying to wriggle out of any liability].

 

Seeing all the different replies to this question you can see why people get pissed off with Banks, everyone is told a different thing. One day they'll get their act together.

 

get him to come with you too the bank and get a draught, atleast he will be happy

 

just get him to pay the cash in over the counter,your safe that way.

 

Tim

I did that 5 years ago, paid 27k cash into a garage a/c, took the receipt to the garage expecting them to give me the car and when they checked their a/c the money still wasn't there. (they personally didn't want that much cash) So they would not give me the car.

The guy in the garage apologised and gave me a lift home. I collected the car the next day together with a bottle of wine, free road atlas and flowers for my wife.

the banking system is probably faster now.

the 24h rule seems strange to me, paying money in, ok. taking it back out again, thats theft.

 

Whenever I have paid money from HALIFAX into another HALIFAX it has shown within a few minutes always.
tabetha

 

Bit of info regarding the Faster Payment Service

Faster Payment Service is a new UK clearing system which is due to launch on 27 May 2008.

In normal circumstances payments are guaranteed to reach the beneficiary's account and be available for drawing within 2 hours. The system will be available 24 hours a day, 365 days a year to make payments.

This function allows you to pay bills and other organisations as well as to make payments to accounts you hold with other UK banks and to your friends and family. To pay a bill or donate to a charity, click on 'Pay a bill or organisation'. This option will provide you with a list of popular payment beneficiaries so it's easier for you to make payments.

Who will be able to use FPS?

There are 13 founder members of FPS and the service is available between customers of the following financial institutions:

* HSBC
* Lloyds TSB
* HBOS plc
* Nationwide
* Citi
* Abbey
* Co-operative Bank
* Barclays
* RBS Group
* National Australia Group
* Danske Bank
* Alliance Leicester
* Northern Rock

Different banks will be offering different services and may introduce the service at different times. For further information on the service each bank is offering you will need to contact them direct. We also recommend that you contact your payee to ensure that they can accept Faster Payments.
Do I have a choice as to whether I use FPS?

Provided the beneficiary and the beneficiary's financial institution are both participating in the scheme then the payment will be sent via FPS.
Why is there a short delay when I confirm my payment?

You will receive confirmation of when the payment will be credited. To do this FPS contacts the financial institution that the payment is being sent to, in order to confirm the payment will be accepted and credited to the beneficiary's account. This may take several seconds to complete.
Please wait until the final confirmation screen has been received before logging off.
Who can I make payments to?

You can make payments to most UK based individuals and organisations. In the initial stages some organisations and banks will not accept FPS payments. In these cases funds will be sent using the existing system and will take at least 3 working days.

You will be advised when making the payment how long it will take to be credited.
When will payments be received?

FPS will not be fully operational immediately. However, when the service is fully operational then 95% of all payments will be sent via the system. In normal circumstances most of these payments will be received by the beneficiary within two hours. A notification of whether the payment has been accepted or rejected will appear on your computer.

If the payment is to an HSBC Credit Card, it will still take three working days to be credited to the account.

Payments HSBC Credit Cards will start to be sent via FPS in November 2008.
Does this new service mean I can pay my credit card bill on the day that payment is due?

Not necessarily. You will need to check the information on the back of your bill or statement to ensure you can pay it in time. All companies accepting Faster Payments and providing bills to customers should include information about timescales on the back of their bills or statements.

Payments to HSBC branded credit cards (including First Direct & Partnership Cards (including John Lewis)) will continue to take 3 days to be credited (although backdated for interest purposes) until later this year.

Payments to M&S Money cards are not currently scheduled to be included in the Faster Payments scheme.
What if I use the wrong sort code and account number?

FPS will check the sort code and account number are valid before sending it and will send you an error message if the details are invalid. It will not check that the sort code and account number relate to the beneficiary name.

Check all details input as we are not able to cancel payments or recover funds if the payment is sent to the wrong place.
How much money can I send in one day?

This new service will be launched on 27 May 2008 and customers will be able to make Faster Payments using our Bill Payments service from that date. In the first week after launch HSBC customers will only be able to make payments up to the value of Ł20.00. From the 3 June 2008, we will look to increase the value, if the service is performing as expected. Therefore by the end of June we expect our customers to be able to send payments up to the value of Ł10,000.00.

However please note that this limit can also be reduced at anytime without prior notice.
What are the cut-off times for sending a payment?

If you select 'Immediately', the amount of the payment will be taken from your account immediately. Payments generated after 11.45pm will not be sent until the next day. Payments made 'Immediately' cannot be stopped.
What happens if I set up a forward dated payment to leave on a weekend or non-working day?

If you request for a payment to leave on a date that is a weekend or non-working day, then the funds will need to be available at 12.01am on that day and your balance will reflect this. You will need to ensure that funds are available to cover any future dated payments.
What if I want to cancel a payment I have set up?

Payments made 'Immediately' cannot be stopped.

Forward dated payments can only be stopped if they appear on the 'View or cancel pending payments' list. These payments can be cancelled at any time up to and including the early hours of the date selected for payment via 'View or cancel pending payments' within 'Make a payment'. Once the payment has been sent it cannot be cancelled.

 

cool didnt know that

lee

 

i knew that