bank transfers/bacs payments

[WD*]

Is it possible to contact your bank and find out if a bacs payment is on its way?

We have been told that we are being sent money via bacs, but are doubtful. Do our bank know it is coming before it lands, or is it a case of they only know about it when it hits our account?

In case it is relevant, the sender is a barclays business account, the receiver is a halifax personal account.

Cheers.

[TeamD]

I think they only know when the actual funds transfer occurs (hence it hits your account), it's not like a cheque that gets paid in then goes through clearing. Whenever I've spoken to my bank in the past they have always said that they have not visibility of incoming BACS until the funds actually arrive.

[Shaun_E]

BACS is a 3 day process and it is separate from the banks. On day 1 the transaction is submitted to BACS, on day 2 the transaction is processed by BACS and on day 3 the transaction is submitted to the destination account. You bank will only be aware of the transaction on day 3 when the amount arrives in your account. It is possible for the process to take longer than 3 days if you are using on-line banking or telephone banking as your bank may add delays by batching up transactions before submitting them to BACS.

[WD*]

Thanks guys.

I have phoned the bank and they said they can't see it coming until it clears, but if it is coming, it will be there on tuesday.

Cheers