Viewing 11 posts - 1 through 11 (of 11 total)
  • BACS payments – how long?
  • webwonkmtber
    Free Member

    Apparently I was sent money on Wednesday last week by a BACS payment, and I’m still not seeing it in my account. I’ve been misled, yes?

    nealglover
    Free Member

    Yes.

    Mostly instant these days.

    Sometimes a few hours.

    Never a few days.

    MSP
    Full Member

    Same time for cheque clearance, maybe longer if one of the accounts is not part of a clearing bank (last time I checked anyway).

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    firestarter
    Free Member

    they say they are almost all instant and most are but i have had one or two take nearly a week

    KINGTUT
    Free Member

    You would have seen it in your account on Friday.

    NJA
    Full Member

    BACS is different to the faster payments system, the originator gets to choose what day the money arrives, between 2 and 45 days ahead with my bank (HSBC).

    fadda
    Full Member

    Standard clearing cycle takes 3 days, not including the day of initiation.

    Funds should be in your account first thing tomorrow.

    Many (but by no means all) payments are now accelerated, and so could take just moments, depending on how well/quickly the banks at both ends of the transaction are adhering to the payment services directive.

    webwonkmtber
    Free Member

    Thanks all – have checked and the money has not been sent. Bugger.

    And judging by the above, it could arrive any time!

    Drac
    Full Member

    Instant if done online I’ve found, certainly way faster then those cheque things you use to get.

    WackoAK
    Free Member

    On our company account the standard is 3 days, same day or next day costs more.

    Northwind
    Full Member

    fadda – Member

    Standard clearing cycle takes 3 days, not including the day of initiation.

    Nah, BACS 3-day cycle includes the day of initiation. Just that many ways of sending BACS payments include a delay (internet banking frinstance with many banks)

Viewing 11 posts - 1 through 11 (of 11 total)

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