Banking needs to get into the 21st century?

[Plonque]

On Friday evening I moved some money around, electronically through my online banking, across two of my own NatWest accounts.

It's now 1pm on the following Monday and the transactions are still "pending" and the balances are still showing as unchanged in the respective accounts.
(There's no error, the account I moved the money from says Balance £1000 (pending -£1000) and the account I moved it to says Balance £0 (pending +£1000) so I know that it's there and processing) amounts changed

BUT WHY?! Why, after 3 days, is an internal electronic payment still not officially at its destination? No human personnel were involved in the transaction so Mon-Fri hours shouldn't matter.

Why is this still a thing?

Are you sure you made an account transfer and not a faster payment between accounts? A transfer from one account to another is instant. A faster payment only happens until 6pm Mon-Fri for a lot of the Uk focussed banks.

I’m with natwest and mine is always instant too. I made a faster payment at the weekend and it was instant. The only time it would show as pending is if it’s a debit card payment

It’s also actually quite easy to get through on the phone to them at the moment, once you get past the messages telling you not to call unless it’s life or death lol

@Plonque

I have very recently opened a Starling account and am having my hobby profit paid into that. I'm planning some major financial upheaval and need the longevity of my lifelong NatWest account and don't want to feck up my credit score so I'm holding back on fully transferring ... but I will! NatWest have done nothing to keep me interested. They make everything so hard work.

I am not an expert but I don't think you need to keep your Natwest account for credit score purposes. Whatever you have done in the past isn't erased because you've switched banks.

I'm with Natwest and it's instant, even with large-ish sums of money - are you talking a very large amount and maybe it has to go through AML checks for some reason?

Usually transfers like this happen instantly. As they have not on this occasion I would expect it has triggered a fraud warning and is waiting in a queue for a human to check it.

Call your bank and see if they can hurry it up.

If I move money from my Business account to my personal one (different banks) it’s virtually instant.

My NW transfers are always instant between 3 accounts I use. I can only think that it has been flagged as unusual activity or something so is taking a bit longer while they investigate

I've never had this with Halifax, money updates instantly between the several accounts I have.

This is not a general problem with the bank but something specific to that transaction. I move money with and between banks and it is instantaneous unless a new account is being set up.

Try First Direct - I have been with them years and they are totally set up for online. Everything between your accounts (apart from credit card) happens instantly. My parents are with NatWest takes an age to get an answer on anything, they don't send you forms (whoever has to send forms these days anyway?!), ridiculous.

I don't think you say the whole banking system is rubbish on the basis of one transaction that for some reason is stuck. Why are you waiting to ring, do you need to finish work first, otherwise I'd call them now, why seethe when you could try and sort it out.

Like I think every other poster on the thread I've never had a problem with any payment or transfer

It sounds like there's an issue with that transaction. All items posted during non-working time (usually Saturday and Sunday in the UK), will be rounded up and allocated to the correct destination as part of the "beginning of day" activities. It should show and be available to use "immediately", i.e. within 2 hours. I'd contact them asap - my bank answered and dealt with a query as fast as usual, so you may be pleasantly surprised.

I am not an expert but I don't think you need to keep your Natwest account for credit score purposes. Whatever you have done in the past isn't erased because you've switched banks.

I would definitely keep a long term account for the time being if you’re planning anything major financially.

Length of time with bank is used in credit scoring.

My lloyds is instant, I pay in from my paypal account and its in within 5 minutes. My ExH is also with Lloyds and pays me the maintenance from there and it's with me in a few minutes.

I'm a Nationwide user, i find people have usually received the money before I've even messaged them to say I've just done it

That's sounds dodgy. I use natwest and never have this issue.

I don't have this problem with natwest but I do with RBS which is essentially the same bank. Unfortunately there is nothing I can do but grumble as RBS is our mortgage and we can't move it anywhere else.

Also NatWest, also never had a problem.

Have you never moved money around before? I'm just wondering if it's unusual activity for you so has been flagged in some way.

Moving money between my natwest accounts is instantaneous

I’ve done Santander to Halifax and vice versa over the weekend and they’re done instantly .

@LadyPoison

I do think NatWest is a pain to use online though - our joint account is with them and I always let DH do that one.

The app is much easier to use than online banking ime

Are you sure there isn't a problem with the funds you're trying to pay away? I use the NatWest app a lot and payments are always instant

I'm with NatWest and payments are always instant. I transfer money between my personal, business and savings accounts all the time and it never takes longer than a second or two.

Some of my customers pay me via BACS and it's also instant then.

I think there's an issue with your transactions, or they're doing checks due to the amount of money being shifted.

This is going to turn out to be something you've done wrong, either with the authentication or the availability of funds. I'm sure NatWest will accept your apology