star dust
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Post by star dust on May 28, 2015 10:03:11 GMT
Received a deposit confirmation email from SS which I nearly didn't read this morning, and it contains the following rather useful information: "Deposit Reconciliation Schedule Deposited Reconciled Mon before 5PM Tue AM Tue before 5PM Wed AM Wed before 5PM Thur AM Thur before 5PM Fri AM Fri before 5PM Sat AM Fri after 5PM Tue AM Sat/Sun anytime Tue AM " Given that withdrawals don't happen unless deposits have cleared, I find this very useful. Haven't seen it on the SS website yet, so I thought I'd post it here. Guess this is a very welcome move by SS to regularise the deposit and withdrawal process, a good move savingstream  . |
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Post by biggles on May 28, 2015 10:12:17 GMT
I guess that was specifically for last weekend? Either that or SS never work on Mondays?
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on May 28, 2015 10:20:27 GMT
I guess that was specifically for last weekend? Either that or SS never work on Mondays? Or maybe just that your bank won't actually send your money until Monday if you make a deposit over the weekend (which would include Friday evening).
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ilmoro
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Post by ilmoro on May 28, 2015 10:50:44 GMT
I guess that was specifically for last weekend? Either that SS never work on Mondays? Or maybe just that your bank won't actually send your money until Monday if you make a deposit over the weekend (which would include Friday evening). No, the moneys sent, just not credited by SS in my experience. Sent cash to MT, FS, & SS on Friday before 4, bank gave all 26/5 as trans date but MT, FS had cash avaliable in the account within an hour, SS took until Wed. Not really an issue for lenders because the way system works, might be an issue for SS accounts technically unfunded (FCA rules), in my case for a week but they dont seem to consider it an issue.
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paulgul
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Post by paulgul on May 28, 2015 10:51:08 GMT
I feel left out now, I didn't get an email  Edit- re-reading the op I see it was sent as a deposit confirmation not as a general notification |
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on May 28, 2015 11:34:22 GMT
Or maybe just that your bank won't actually send your money until Monday if you make a deposit over the weekend (which would include Friday evening). No, the moneys sent, just not credited by SS in my experience. Sent cash to MT, FS, & SS on Friday before 4, bank gave all 26/5 as trans date but MT, FS had cash avaliable in the account within an hour, SS took until Wed. Not really an issue for lenders because the way system works, might be an issue for SS accounts technically unfunded (FCA rules), in my case for a week but they dont seem to consider it an issue. Seems odd that the bank would give trans date later than they sent the money? I THOUGHT I was sure my bank didn't send it over the weekend, but looks like I'm mistaken. Interesting stuff - thank you.
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star dust
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Post by star dust on May 28, 2015 11:50:43 GMT
No, the moneys sent, just not credited by SS in my experience. Sent cash to MT, FS, & SS on Friday before 4, bank gave all 26/5 as trans date but MT, FS had cash avaliable in the account within an hour, SS took until Wed. Not really an issue for lenders because the way system works, might be an issue for SS accounts technically unfunded (FCA rules), in my case for a week but they dont seem to consider it an issue. Seems odd that the bank would give trans date later than they sent the money? I THOUGHT I was sure my bank didn't send it over the weekend, but looks like I'm mistaken. Interesting stuff - thank you. I think it depends on your bank, for late Friday/weekend/bank hol payments I have one bank that dates and sends same day, one that sends but dates the next available banking day, and one that only sends on the next available banking day.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on May 28, 2015 11:54:00 GMT
Seems odd that the bank would give trans date later than they sent the money? I THOUGHT I was sure my bank didn't send it over the weekend, but looks like I'm mistaken. Interesting stuff - thank you. I think it depends on your bank, for late Friday/weekend/bank hol payments I have one bank that dates and sends same day, one that sends but dates the next available banking day, and one that only sends on the next available banking day.  Good old consistency. No wonder we're all confused (OK, yes, 'speaking for myself', I admit it)
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Post by yorkshireman on May 29, 2015 0:29:09 GMT
Received a deposit confirmation email from SS which I nearly didn't read this morning, and it contains the following rather useful information: "Deposit Reconciliation Schedule Deposited Reconciled Mon before 5PM Tue AM Tue before 5PM Wed AM Wed before 5PM Thur AM Thur before 5PM Fri AM Fri before 5PM Sat AM Fri after 5PM Tue AM Sat/Sun anytime Tue AM " Given that withdrawals don't happen unless deposits have cleared, I find this very useful. Haven't seen it on the SS website yet, so I thought I'd post it here. Guess this is a very welcome move by SS to regularise the deposit and withdrawal process, a good move savingstream . So what is the procedure for withdrawals? My wife received an email from SS on Wednesday afternoon May 27, during office hours, confirming a withdrawal request yet the money has not arrived in her account. This confirms my comment on another thread earlier this month that SS withdrawals appear to operate on an arbitrary basis without any logic. 
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star dust
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Post by star dust on May 29, 2015 11:52:11 GMT
So what is the procedure for withdrawals? My wife received an email from SS on Wednesday afternoon May 27, during office hours, confirming a withdrawal request yet the money has not arrived in her account. This confirms my comment on another thread earlier this month that SS withdrawals appear to operate on an arbitrary basis without any logic. I assume you didn't have any deficits to clear or make any deposits subsequent to the withdrawal request? If you still haven't had the withdrawal confirmed, I suggest you contact them directly. I agree they are a bit sporadic sometimes, and definitely get stalled if you have a deposit deficit or make one before withdrawal is confirmed, I was hoping clarity on the deposit process would help with the withdrawal process and that this too might be regularised. I don't know when they implemented this, yesterday was the first time I got notification on a deposit email, but I am a bit miffed because I sent an FP before 5 pm yesterday and my account has still not been credited. So much for the new procedure .
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Good old consistency. No wonder we're all confused (OK, yes, 'speaking for myself', I admit it)