Not for the receiving account it won't be.
But if the OP needs the cash to cover a direct debit or something like that they need not worry.
Even though DD thats due out on wednesday will show up on the account now , the funds to cover it can still be paid in on wednesday as long as its done as early as possible.
If the recipient actually wants to draw the cash out via cashpoint the funds will not show until wednesday and if the transfer is between different banks then the transfer can take between 2 and 4 banking days to be available anyway
Not for the receiving account it won't be.
But if the OP needs the cash to cover a direct debit or something like that they need not worry.
Even though DD thats due out on wednesday will show up on the account now , the funds to cover it can still be paid in on wednesday as long as its done as early as possible.
If the recipient actually wants to draw the cash out via cashpoint the funds will not show until wednesday and if the transfer is between different banks then the transfer can take between 2 and 4 banking days to be available anyway
Think it depends where you bank?
The OH transfers money to my account regularly and it's there within a couple of hours, including weekends. HSBC to Barclays.
The banks are still 'processing' electronic payments as my car payment due out on the 29th is showing online ie the money is marked to go out.
Faster Payments will work 24 hours a day, seven days a week, so anyone transferring money can be sure the recipient will get it very quickly - even on Christmas Day.
Some recent transfers I've done have been quick enough to go through in the time it takes to log in to Internet banking, really impressed!
The OH transfers money to my account regularly and it's there within a couple of hours, including weekends. HSBC to Barclays.
The banks are still 'processing' electronic payments as my car payment due out on the 29th is showing online ie the money is marked to go out.
It varies from bank to bank.
Those "processing" payments would have appeared on your onlne account on saturday even though the payment won't fail until wednesday if there are not enough funds
GPW
Posts: 3,385
Comments
Which bank?
Like I said you can pay it at his bank's cashpoint, outside the building.
Mines instant.
Yeah.....it's taken out instantly, but seems to take its time getting to the account is destined for.
Just to stop him going overdrawn by the agreed amount, and the transfer was instant.
Natwest cashpoints don't take deposits
Not for the receiving account it won't be.
But if the OP needs the cash to cover a direct debit or something like that they need not worry.
Even though DD thats due out on wednesday will show up on the account now , the funds to cover it can still be paid in on wednesday as long as its done as early as possible.
If the recipient actually wants to draw the cash out via cashpoint the funds will not show until wednesday and if the transfer is between different banks then the transfer can take between 2 and 4 banking days to be available anyway
Think it depends where you bank?
The OH transfers money to my account regularly and it's there within a couple of hours, including weekends. HSBC to Barclays.
The banks are still 'processing' electronic payments as my car payment due out on the 29th is showing online ie the money is marked to go out.
I'm with Barclays and Santander and they both do it. I did ask which bank but no answer.
Some recent transfers I've done have been quick enough to go through in the time it takes to log in to Internet banking, really impressed!
Have you not heard of Faster Payments?
Not on a bank holiday.
They do, I have done it plenty of times. Has to be one attached to a branch - not one at a supermarket etc.
There is a bit of a clue in the name, isn't there!
It varies from bank to bank.
Those "processing" payments would have appeared on your onlne account on saturday even though the payment won't fail until wednesday if there are not enough funds
The only ones here that do that are inside the branches.
We have at least 4 on the walls of local branches and none take deposits.
Yet when I belonged to the Halifax I could pay in via their cashpoints more than 10 years ago.
Tuesday (today) is a bank holiday. Banks don't open on bank holidays, hence the term.