Halifax explains why it takes payments at this | U.Ok.Finance News
Halifax has defined its guidelines round what time of day it processes payments. The bank set out its insurance policies after a buyer observed a change to when their payments had been going by way of. They contacted Halifax over social media saying that their standing orders had been taking longer than typical to undergo.They requested the bank why it had made the change. In response, Halifax mentioned: “Standing orders are scheduled to leave your account on the date you’ve set, but they can be taken at any time during that day, not necessarily first thing in the morning.”The buyer went on to clarify that for the previous three years, all their standing orders had been processed within the early hours of the morning. Halifax supplied additional steerage to clarify why the payments might have been going out at this time.The group mentioned: “Standing orders are processed during our overnight payment run, which happens the evening before the due date (Sunday–Thursday at midnight). If there’s a bank holiday on Monday or Friday, the payment runs on the next working day.”Guidance on the Halifax web site in regards to the timing of direct debits and standing orders states: “We’ll try to make the payment shortly after midnight on the due date. We usually process new standing orders on the same day you set them up.”You could make transfers immediately between Halifax present or financial savings accounts, together with joint accounts. When making a cost to a UK bank account with one other supplier, these will normally be course of utilizing the Faster Payments system.In this case, the funds will depart your account instantly and can normally be obtainable within the different account within two hours. For some suppliers, it can take up to close of business on the subsequent working day for the quantity to undergo.When arranging a cost for a future date, Halifax will attempt to make the cost shortly after midnight on the date you’ve requested.
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