How long for BACS payments to clear??

[Kentish]

I bought an item from someone last week who asked me to pay by direct bank transfer and I did so on Friday last week.

The funds apparently still haven't made it into his account.

Is there a way of checking?

My bank just says when it left my account (last Friday) and I need to verify when it goes into the account of the person I am paying.

[carsarecool]

Should be in their account by now, usually 2-3 working days max.

[Kentish]

Thanks.

The recipients bank will not discuss his account with me even to confirm whether or not the payment I made to him has been credited.

How do I find out?

[svm]

If it was being sent to a Lloyds account, it will now take up to 5 days.

Try getting them to explain why though, is impossible. My mate had to argue with them about a bounced direct debit charge because of this as well.

Anyone would think Lloyds are skint or something.....

[Kentish]

Yes, it is Lloyds

Thanks.
K

[mybrainhurts]

Ask him for his bank details again, then check you gave your bank the correct numbers. Then get your bank to confirm they sent the funds to the correct numbers.

That's all you can do. If everything ties up, this guy is pulling your chain...

Unless his bank has applied the funds to the wrong account. But they don't make mistakes, do they..? Errr....

If he's got online access to his account, you could talk to him like a Nigerian and ask him for his login details...

[Road2Ruin]

Kentish said:

Thanks.

The recipients bank will not discuss his account with me even to confirm whether or not the payment I made to him has been credited.

How do I find out?

You can put a trace in the payment with your bank but this can take up to 48 hours! Not sure why. However some banks have a BACS clearance dept and you can go to them to see if there is any problem with the transfer ie a digit out on the account number. Sometimes a BACS will go into a holding account while they try and work out where its meant to go and this can cause a delay on it reaching the account, if the details are incorrect. If they cant work it out it will be returned but that again can take a few days. I would first of all check the bank details were correct thats the most likely cause of the problem. If they are correct then it will be there. I have dealt with around 30,000 BACS transfers and not one of them has failed to reach its destination when correct details have been quoted.

Pete

[Parrot of Doom]

...and this is why I have little or no sympathy for banks moaning about people reclaiming charges.

[Kentish]

I could try that!

I checked the details and all were consistent

I sent him an email earlier.
He's only replied once since I paid him and was quite chatty beforehand.

Aaaw, a reply from him just popped up .....hang on.........

[mybrainhurts]

Parrot of Doom said:

...and this is why I have little or no sympathy for banks moaning about people reclaiming charges.

They once worked up a real sweat when they lost £5 million I was moving around. Which was nice....

[Kentish]

Uhhm, says he has to pop out to visit the bank to find out.

Phone, on-line banking - this is 2009 right?

[Kentish]

I won't say too much as I think he is also a PH'er (albeit infrequent) and if this is all perfectly innocent I don't want to annoy him!

[svm]

They wont tell him anything. They will just say to him that there's no sign of it.

I think my mate thought I was pulling a fast one for a bit when they did it to him.

If you call your bank, they'll just assure you its left and its down to Lloyd's to do the rest.

It's all very helpful...

[Kentish]

svm said:

They wont tell him anything. They will just say to him that there's no sign of it.

I think my mate thought I was pulling a fast one for a bit when they did it to him.

If you call your bank, they'll just assure you its left and its down to Lloyd's to do the rest.

It's all very helpful...

That's the place I've been at since Tuesday/Wednesday.

• *king Banks!

[munky]

Most banks have signed up to the FPS (Faster Payments System) though have they not? For those that have it should now take 2 to 3 hours rather than 3 days.

[svm]

munky said:

Most banks have signed up to the FPS (Faster Payments System) though have they not? For those that have it should now take 2 to 3 hours rather than 3 days.

Barclays to Lloyds was down to same day (usually cleared at around 5-6 O'Clock). Then without warning, they changed it to 5 days.

I guess they think that with all the st that's going on in the banking sector, the Government wont be dishing out any fines or compulsory payment times.