SteveT
Member of DD Central
Posts: 6,875 
Likes: 7,924
|
Post by SteveT on Mar 25, 2015 7:50:08 GMT
I made my first funds transfer into AC yesterday by Faster Payments with the specified account reference number. At the same time, I made an identical transfer into MT, also by Faster Payments. I received the email from MT 12 minutes later confirming the funds had been received and were now available in my account. I log into AC this morning and ..... nothing. Is this normal and, if so, why is AC so much slower than MT, SS and others that also use Faster Payments for funds deposits?
|
|
|
|
Post by Deleted on Mar 25, 2015 8:09:44 GMT
Yes, the speed difference is normal, AC normally working 24 hours ish
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
|
Post by ilmoro on Mar 25, 2015 8:11:13 GMT
I made my first funds transfer into AC yesterday by Faster Payments with the specified account reference number. At the same time, I made an identical transfer into MT, also by Faster Payments. I received the email from MT 12 minutes later confirming the funds had been received and were now available in my account. I log into AC this morning and ..... nothing. Is this normal and, if so, why is AC so much slower than MT, SS and others that also use Faster Payments for funds deposits? Yes always 24hrs. Thats something that youll find discussed at length elsewhere. It mainly down to systems & interpretation of FCA rules on client money. They are currently working on changes that will hopefully resolve this to a faster system.
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Mar 25, 2015 8:20:40 GMT
Thanks both! I'll learn to start thinking 24 hours ahead then.
|
|
paulgul
Member of DD Central
Posts: 401
Likes: 92
|
Post by paulgul on Mar 25, 2015 8:23:51 GMT
It's even slower over the weekend, I transferred funds on Sunday (faster method) and it didn't appear until yesterday (Tuesday), the problem was yesterday I forgot I'd forgot I transferred them so the money is still sat there - A senior moment  |
|
|
|
Post by chris on Mar 25, 2015 9:07:05 GMT
Just to keep everyone updated, the set up of hourly access to faster payments transactions is now with the bank and should be completed within the next two weeks. Once we have access it'll then take me a few days to code the integration and get it up and running. Hopefully we're within 3 - 4 weeks of having this live as a worst case with it being sooner if the bank can move more quickly.
Within the same timeframe we'll have our alerts system live which will then also send you an email alert letting you know funds have been received.
|
|
ianj
Member of DD Central
Posts: 656
Likes: 520
|
Post by ianj on Mar 25, 2015 9:08:46 GMT
Thanks both! I'll learn to start thinking 24 hours ahead then. It's my experience that, while funds transferred prior to 17:00(ish) will be credited the following working day, anything after is delayed a further 24hrs. A Thursday evening transfer won't be credited until Monday morning. Still searching for a functioning crystal ball! 
|
|
bugs4me
Member of DD Central
Posts: 1,845
Likes: 1,478
|
Post by bugs4me on Mar 25, 2015 10:51:19 GMT
I made my first funds transfer into AC yesterday by Faster Payments with the specified account reference number. At the same time, I made an identical transfer into MT, also by Faster Payments. I received the email from MT 12 minutes later confirming the funds had been received and were now available in my account. I log into AC this morning and ..... nothing. Is this normal and, if so, why is AC so much slower than MT, SS and others that also use Faster Payments for funds deposits? Yes always 24hrs. Thats something that youll find discussed at length elsewhere. It mainly down to systems & interpretation of FCA rules on client money. They are currently working on changes that will hopefully resolve this to a faster system. - not sure it is down to the interpretation of FCA rules on client money - more down to the systems employed by AC which IIRC is a manual process. AC have stated they are hoping/going to speed the process up but the question is of course when as it can be highly frustrating. edit: xposted with chris
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
|
Post by ilmoro on Mar 25, 2015 11:13:13 GMT
Yes always 24hrs. Thats something that youll find discussed at length elsewhere. It mainly down to systems & interpretation of FCA rules on client money. They are currently working on changes that will hopefully resolve this to a faster system. - not sure it is down to the interpretation of FCA rules on client money - more down to the systems employed by AC which IIRC is a manual process. AC have stated they are hoping/going to speed the process up but the question is of course when as it can be highly frustrating. edit: xposted with chris Relevant in terms of not offering SS system or debit card option avaliable elsewhere but agree mainly systems used. MT is also manual but, of course, size & volume do not compare I would suspect. As chris says, hopefully all academic in a month
|
|
|
|
Post by pepperpot on Mar 25, 2015 13:04:21 GMT
Thanks both! I'll learn to start thinking 24 hours ahead then. It's my experience that, while funds transferred prior to 17:00(ish) will be credited the following working day, anything after is delayed a further 24hrs. A Thursday evening transfer won't be credited until Monday morning. Still searching for a functioning crystal ball! There are anomalies - I sent a FP on Friday am fully expecting it to show up Mon/Tue this week. Much to my surprise, it was available on Sat 09:45.
|
|
|
|
Post by chris on Mar 25, 2015 17:02:37 GMT
It's my experience that, while funds transferred prior to 17:00(ish) will be credited the following working day, anything after is delayed a further 24hrs. A Thursday evening transfer won't be credited until Monday morning. Still searching for a functioning crystal ball! There are anomalies - I sent a FP on Friday am fully expecting it to show up Mon/Tue this week. Much to my surprise, it was available on Sat 09:45. Sunday transfers are the only ones that definitely will not be next day due to how Barclay's statements work online. Other days will usually be next day but there is a cut off time (not sure what that is off the top of my head).
|
|
ianj
Member of DD Central
Posts: 656
Likes: 520
|
Post by ianj on Mar 25, 2015 17:22:16 GMT
There are anomalies - I sent a FP on Friday am fully expecting it to show up Mon/Tue this week. Much to my surprise, it was available on Sat 09:45. Sunday transfers are the only ones that definitely will not be next day due to how Barclay's statements work online. Other days will usually be next day but there is a cut off time (not sure what that is off the top of my head). Pleasantly surprised to hear Friday & Saturday transfers should be credited the following day. Due to an instance, quite some time ago granted, when a Thursday evening transfer wasn't credited until Monday morning, I've always waited.... and potentially missed three days investment opportunities! 
|
|
|
|
Post by chris on Mar 25, 2015 17:23:33 GMT
Sunday transfers are the only ones that definitely will not be next day due to how Barclay's statements work online. Other days will usually be next day but there is a cut off time (not sure what that is off the top of my head). Pleasantly surprised to hear Friday & Saturday transfers should be credited the following day. Due to an instance, quite some time ago granted, when a Thursday evening transfer wasn't credited until Monday morning, I've always waited.... and potentially missed three days investment opportunities! Ooo sorry, not sure about Saturday transfers. May be mistaken.
|
|
ianj
Member of DD Central
Posts: 656
Likes: 520
|
Post by ianj on Mar 25, 2015 17:26:07 GMT
Pleasantly surprised to hear Friday & Saturday transfers should be credited the following day. Due to an instance, quite some time ago granted, when a Thursday evening transfer wasn't credited until Monday morning, I've always waited.... and potentially missed three days investment opportunities! Ooo sorry, not sure about Saturday transfers. May be mistaken. When something sounds too good to be true...........
|
|
|
|
Post by chris on Mar 25, 2015 17:30:55 GMT
Ooo sorry, not sure about Saturday transfers. May be mistaken. When something sounds too good to be true........... I'm working on the too good to be true solution!
|
|
