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Same day money transfer

(14 Posts)
HappydaysArehere Sat 28-Jun-14 08:50:47

Had to make a payment for some work and was told to make a same day money transfer into the builders account at a Halifax Bank. I was told this was very simple and free. I went into my Lloyds Bank and was told the charge was £30. As the amount was only £750 I was not very happy. I paid it as I needed to get money off. I also was taken into the office and passport was photocopied, account details, debit card scrutinised. I have been a customer for forty years and never been in the red.
My daughter can't understand this. It'usually only takes a couple of minutes and is done at the counter and is free. I was told by the bank that I could alternatively withdraw the cash and take it to a Halifax Bank. The nearest Halifax was a journey away so I paid up. Do you think this was a correct charge. Has anyone else made a same day money transfer at a Lloyds Bank?

PervyMuskrat Sat 28-Jun-14 13:40:43

Sounds like it was processed as a CHAPS payment, which is usually around £30. Also sounds like the id checks were part of the anti money laundering/ know your customer processes that banks have to do.

If you have online banking, next time pay using Faster Payments. It's free and should arrive in the recipients account within 2 hours.

HappydaysArehere Sat 28-Jun-14 14:39:54

Just looked at the form and it is indeed a chaps form. I asked for a same day transfer. I had never heard of a chaps form. I reiterated a couple of times that I required a same day transfer. What is a chaps form?
Unfortunately we do not have online banking. Thank you for your explanation.í

specialsubject Sat 28-Jun-14 15:59:08

Lloyds and Halifax are both part of the faster payments system; online and by phone this sum can be transferred within 2 hours and for free, so I don't see why the bank couldn't do it in branch.

CHAPS is the guaranteed same day system for large amounts and does cost about £30, but the staff should have offered you the option.

raise a complaint with Lloyds, and set up phone banking at least for the future.

PervyMuskrat Sun 29-Jun-14 12:15:41

Taken me a while to find the right link, but specialsubject is right - I wasn't sure if Faster Payments could be offered in branch but the Faster Payments website specifically refers to being able to make a Faster Payment in branch, so you should have been offered the choice. Complain to Lloyds!

SalvatoreGirl Mon 30-Jun-14 10:53:43

Although Faster Payments usually arrive the same day I believe the service level is by close of business the following day.
The only way the bank could guarantee same day is through the CHAPS system.

TalkinPeace Mon 30-Jun-14 12:54:52

Written complaint time that they did not offer FPS. Naughty, naughty bank.

specialsubject Mon 30-Jun-14 15:20:49

salvatore is right - the guarantee is for next day, BUT when I do these transfers online within participating banks they are ALWAYS done within 10 minutes.

HappydaysArehere Tue 01-Jul-14 15:21:48

I posted a thank you to all of you yesterday but can't see it above. I am definitely asking for faster payment service. I am really grateful.

HappydaysArehere Thu 03-Jul-14 15:59:27

Went into Lloyds today. I needed £470 to be transferred to a builder in Norfolk. Asked for a Faster Payment transfer but was told they didn't do it. They may be doing it from sometime in August. I know Barclays And Nat West do it but not Lloyds. I was given choice of £30 Chaps transfer or withdrawing the money and taking it to the Halifax. I had to choose the latter and telling them I was greatly unimpressed I had to make a journey of about six miles on the bus and queue again. What a disgrace for a major bank like Lloyds. For the first time I thought of changing banks.k

TalkinPeace Thu 03-Jul-14 21:29:10

Why did you go into the branch to do an electronic transfer?
Grt internet banking set up and cut the bastasrds out of the loop

HappydaysArehere Sun 06-Jul-14 08:55:36

Don't have internet banking as Really concerned about it. Had our computer compromised and was relieved hadn't set it up. As you can guess we are very old fashioned and until we had this problem we hadn't even thought it was necessary. Most payments are standing orders and husband collects cash from bank. We even use a cheque book for a few postal payments or I pay over the phone. How old fashioned can you get? However, my husband complained up at the bank and they said lots of customers had been upset by this and appeared suitably shocked when he said he was considering changing banks. Why it is going to take until August or my husband was told September to put this facility into place is amazing for a bank of this size in 2014. I agree with you TalkinPeace for the terminology. Bastards they certainly are.

TalkinPeace Sun 06-Jul-14 18:13:36

Hmm internet banking
its you in control
start with having it but do not "use" it : watch what you expect in real time
then change a standing order
or cancel an old DD
and get used to watching that
and once you realise that your eyes are MUCH BETTER than the banks, take control.

I understand you fear : my clients were , until March this year, baned from paying by other than cheque. Making them realise that the bank CBA so they should take control has been a very gentle process

HappydaysArehere Mon 07-Jul-14 08:53:14

Thank you TalkinPeace. Am going to talk this over with DH. The security was the big issue but what you say about our eyes being better than ours is really thought provoking. Also am thinking it won't be long before we can't use cheques. Am wondering if invested in an Apple computer the security issue would be reduced! This has certainly made us rethink everything. Thank you so much.

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