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Issues with making a faster payment

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Issues with making a faster payment

I too have been subject to Tesco Bank's inability to process a so called "faster payment" within 2 hours - (and not in a maintenance period).  Meant that the money couldn't be transferred on and lost money as money didnt arrive into account until next day ( ~16 hours later).  I await a reason for this - but if they want to hold the money then they have to be resonable (i) for an losses and (ii) the belief that the customer has that they have been the subject of fraud and steps ( and asscoaited costs e..g telephone calls )they take to address that. Again its a requirement of the Faster Payment system that Banks should contact customers if the payment is held up for more than two hours  - and they didnt and it took 20 minutes to get through to the Security and Fraud people!!!

An interesting one to take to the FCA.  

5 REPLIES
Your Community Expert

Re: Issues with making a faster payment

I'm really sorry to hear that you've had issues with your transfer @mtwbath. From your message, I'm unsure if your funds were delayed due to an issue with our banking systems or because there were extra security checks being carried out. We will always do our best to contact customers when there has been a delay caused by extra account checks, but the timescales can vary depending on how busy we are. I'm sorry if the delay to your transfer has meant that you lost out on interest or other benefits and if you call us, we can investigate that further. 

 

If you call us on 0345 678 5678, available 8am - 10pm through the week or 9am - 5pm at the weekend, if you have a savings account or 0345 835 3353, available 24/7, if you have a current account, our team can look into this for you. 

Star Browser

Re: Issues with making a faster payment

this is terrible.

i have been charged by barclays as the money from my tesco current account didn't reach on saturday, but sunday. 

i have come here today as again i have transferred money to halifax, and it hasn't yet arrived.

this is shoddy.

i want you to refund me charges other banks create for your delay in processing 'Faster Payments'

get in touch, fb/lezduur.

Your Community Expert

Re: Issues with making a faster payment

I'm sorry to hear that @Lezduur, as it states above if you've made the transfers between 4pm Saturday and 6am Sunday then this may take longer. If you've requested your payment outside our downtime then can you contact us to discuss this? Please click @CET and then at the top right there is a green button that says 'Send Message'. You can send us your DOB and postcode and we can check your account. Please ensure all personal details are sent with a space between each of the characters – L I K E T H I S. 

Occasional Poster

Re: Issues with making a faster payment

It is a shocking that Tesco bank offline the faster payment all other bank never take it off line very poor that Tesco bank got Cheek to turn off the payment faster, sort it out Tesco or u loss another customers 

Your Community Expert

Re: Issues with making a faster payment

I'm sorry to hear that you feel this way @bristolash91. I'll pass on your comments as feedback to the appropriate team.