Going from pillar to post

[LocationChange]

I have just retired. My pension provider has assured me that they made a one-off lump sum payment into my bank account this morning. It is not there in my bank account. I have spoken to the bank and they have checked and confirmed the payment isn’t there. They have explained that it would only be there if the faster payments system was used.

Does anyone know what system is likely to have been used? - Faster Payments, CHAPS or BACS? This particular payment was a one-off and I’m to expect my monthly pension payments at the end of each month.
I know the sensible thing would be to go back to my pension provider and ask, but it took me one cut off phone call followed by a 40 minute wait to talk to them this morning. I don’t have the stomach for it so soon after!

I’m guessing it was a large amount, £25k+? Which makes CHAPS more likely. I’d see if it comes by the end of the day and give them another call tomorrow if not.

@erihskreb Yes it was a large amount! Thank you for your reply – that is really helpful 😊

Transfers in the 25k+ region can go through instantly, they can take four days. No way to predict strangely. I wouldn't worry too much OP.

Any more than 100k can take up to 24hours to be deposited

Thank you for your replies, everyone. May I pick your expertise a bit further?
I received four lump sums into my account from this morning (so it took two days). Three of them are correct and what I was expecting. There is a fourth payment which is larger than the other three put together, which I was not expecting. I have contacted my lovely generous pension provider and pointed out the error but there is no easy way to talk to a human without waiting a very long time on the phone. So it will be dealt with in due course by their online system. I’ve no idea how long that will take.
I appreciate it is probably not mine to keep, but it seems such a shame for it to languish there without gaining any interest. I am wondering, in the meantime, whether I could transfer it to one of my instant access interest paying accounts or whether my provider could claw the amount back without warning.

I'm dealing with a similar missing payment right now @LocationChange
(Or distracting myself from dealing with it by being on mumsnet 😂) and I just discovered in order to trace a payment I need to find out the FPID number, which is a unique number that the payer should have that you can provide to the receiving account in order for them to trace the payment. Had I known this originally I could have cut out at least one phone call! So no idea if this is any help to you but just thought I'd pass it on.
Luckily for me it's not a large sum. Can't imagine how stressed you might be feeling, hope you get it sorted ASAP.