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How can I get money into someone's bank account fast???

(28 Posts)
FrannyandZooey Tue 23-May-06 21:24:13

I have messed up and forgotten to pay a bill. I need to get it paid by the 28th or pay a £50 penalty. I usually pay by bank transfer but I think this takes about 5 working days or something stupid. Would it be quicker to physically go to the bank and put cash in? I seem to remember even cash does not clear straight away (ruddy banks )

Help!

Twiglett Tue 23-May-06 21:25:16

it would have to be by 26th .. 28th is a sunday .. sorry

FrannyandZooey Tue 23-May-06 21:28:16

oh *%£$ety &%*£

I am shafted, aren't I?

Ledodgyherring Tue 23-May-06 21:29:08

Can't you ring them up and offer to pay with a card over the phone or is this not an option?

rabbitrabbit Tue 23-May-06 21:29:32

No, cash does clear straight away as long as you pay it into the correct bank-doesn't have to be the same branch that the account is held at, just the same bank.
HTH

Katymac Tue 23-May-06 21:29:32

It depend which bank - cash goes in straight away - if you pay in to their a/c itself

Is it a bill? what bank ae they with?

FrayedKnot Tue 23-May-06 21:31:37

What about that thing you do when you are moving house and you transfer funds on the same day? What's it called?

Sorry Mummy brain kicked in tonight, I've ony moved house twice since having DS

WideWebWitch Tue 23-May-06 21:31:46

A TT (telegraphic transfer) will get it there same day but will cost you £20. Or cash, same bank should work yes, but check first.

Rhubarb Tue 23-May-06 21:32:49

Can't you just phone the bill people and say you'll pay in a few days?

FrannyandZooey Tue 23-May-06 21:33:26

Ah! They are with Lloyds TSB. What a great idea. Will go and ask them tomorrow. Ooh you are marvellous.

If not will do a TT as better to pay £20 than £50.

FrannyandZooey Tue 23-May-06 21:34:33

No, Rhubarb, they have a standard £50 late payment charge and enforce it rigorously (or so they have just told me in the reminder letter I came home to this evening <sob>)

JanH Tue 23-May-06 21:35:27

I thought that if you paid in cash, although it might not be credited straight away it would be retrospectively iyswim - ie you could pay it in and then ring them and tell them that you have paid it? Would that work?

In any case a cash payment on Wed should reach them by Fri?

Rhubarb Tue 23-May-06 21:35:51

Yes but final bill letters are always threatening, they are a lot more helpful if you phone them and name an alternative date of payment. I've done it loads!

WideWebWitch Tue 23-May-06 21:36:15

Haver you checked that they will apply the £50 even if a cheque gets there on time? You could send a cq special delivery (i.e. guaranteed next day) and it should get there by 28th easily.

Katymac Tue 23-May-06 21:36:55

I would have though cash on Wednesday into a LLoyds TSB bank would hit by Thusday at the latest - but do ask the bank first (they might tell you over the phone tonite?)

WideWebWitch Tue 23-May-06 21:36:58

I have found in the past that cos apply the charge dependent on when a cq was received, regardless of it not being cleared funds.

FrayedKnot Tue 23-May-06 21:37:52

It's called CHAPS.

Barclays also charge £20.

rabbitrabbit Tue 23-May-06 21:40:24

Hi, I've paid cash into a bank account previously-in one instance also to pay a forgotten bill-and it has registered immediately.
Obviusly you'd need to confirm this but it's always been the case regardless where I've done it.
Really hope you get it sorted.

FrannyandZooey Tue 23-May-06 21:41:07

Nope, the funds must clear by the 28th, so any cheque must clear by then. They really mean it about the £50, it is their new policy and I will be charged without question if the money is not there.

I think the cash in the correct bank will work - I will try that. If not I will get dp to drive to Billericay and pay in cash Maybe not.

WideWebWitch Tue 23-May-06 21:41:50

F&Z, can you say who it is? That's VERY steep, £50!

FrannyandZooey Tue 23-May-06 21:42:27

I was just querying the cash thing to begin with, because I have some weird recollection of paying cash into partner's account and him not being able to get it for 3 days or something totally ludicrous. However we were with different banks.

FrannyandZooey Tue 23-May-06 21:45:19

No problem, WWW. It is a listings magazine that I advertise with. They are quite a small business and have said that in the past they have been able to waive the £50 late payment fee in individual cases, however due to so many people taking advantage they will now have to apply it on every occasion.

They actually print and distribute each issue magazine in which my ad appears, some time before requesting payment, so I think it is actually fair enough.

rabbitrabbit Tue 23-May-06 21:45:19

F&Z-the cash doesn't need to go into the actual branch where the account is held (sorry if I've misunderstood your post)-you can just pay the cash into the same bank and it will still clear immediately.

FrannyandZooey Tue 23-May-06 21:46:10

Yep I think I have got it sorted now rabbit, thank you all for advice. I really am grateful.

WideWebWitch Tue 23-May-06 21:46:33

Oh ok. I've a bit more sympathy with a small business with up front costs!

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