Bank transfer between two UK banks - money gone missing

[Mightyfedup]

I was wondering if anyone has had this happen?

A relative sent me money on Saturday via immediate bank transfer on Saturday. I usually send money to their account. This is the first time they have sent it to my account.

The money left their account and today it is still not in my account. I have spoken to my bank and there is no sign of this money.

The bank detail were correct. I have informed relative via Whatapp but they are away today so not really reachable....

Your relative will have to deal with their bank to see where it's gone.

Nothing you can do - as Lazy says, your relative sent off the money so it's their thing to chase. You have absolutely no say in the matter as far as the banks are concerned.

Also, I love your optimism that a Saturday transfer will always be instant. Wait until Monday, it may have been caught up in a fraud check that needs a manual office-hours followup (although I'd understood that those are automated up the wazoo so more likely will need relative to poke the bank about).

It will be going through fraud checks don't worry yet. It can take longer at weekends.

Thanks for all your replies. My main concern is fraud as the money has left one account but not got to the other account. Where is this money held?

I'm going to be the cynical one here and ask how sure you are that the relative sent the money at all.

I wouldn't expect it until monday, not much banking happens on a sunday

I'm going to be the cynical one here and ask how sure you are that the relative sent the money at all.

Yes my first thought too or to be generous maybe they transposed a digit in your account number.

Depends on the bank. Tesco bank are always slow and never seem to transfer money as a faster payment over a weekend. Check on Twitter in case the sending bank is having delays.

The money isn’t held anywhere. It’s not real money, it’s just numbers in a database!

Definitely they sent it from a bank? DH has a building society account and it takes until 5 the next day.

Or have you double checked they've quoted your details correctly?

Depends on the bank. I can set a payment up on my NatWest account and even though I've set it to be immediate, it won't show on the recipient account until the next. Which really annoys me because other banks still manage to function normally in the evenings/at weekends and make immediate (well, within 2 hours) payments.

How do you know they used the correct details? You might have given them the right ones, doesn’t mean they entered the numbers correctly? But more likely it’s just because it’s a weekend.

Barclays were doing maintenance this weekend so might not show til tomorrow if that bank is involved

How much was transferred? How do you know bank details were entered correctly? Have you seen a screenshot of the payment made?

Depends. The bank may send it via BACS, that would mean it takes 3 days to hit your account. Not usual anymore for smaller amounts but can happen.

Not all banks process payments on Saturdays as well or after any cut of time on weekdays.

The money is in transit like a letter you put on the post.

I'm with pp, have you any proof it has actually been sent?

Yes, screen of proof of sending and reference.

@pudcat has a good point too. Was either bank Barclays? They are up and running again now

NationalWide were also doing some work overnight so poss delays there too. If it the first time they have sent you money there are sometimes extra fraud checks

Put their sort code in here www.fasterpayments.org.uk/consumers/sort-code-checker , that will confirm they can process faster payments or not. Some accounts only use the older bacs 3 day routine.