Hi all,

Feeling very very pee'd off at the moment regarding electronic bank transfers that fail to arrive. The bank quoted 3 days for a transfer to my account which was also confirmed by my own bank as the standard time but yet i am now on day 4 and still no transfer!!

Ok this might not sound bad at all and i should be patient but i am currently out of work so very short of money and the transfer relates to an outstanding payment for parts sold 6 weeks ago!! A previous transfer for the full amount was apparently returned to the buyer so a cash sale was agreed only for me to not get the full amount at a race meeting where i travelled 170 miles round trip (allbeit with free tickets supplied by the buyer) where i delivered the parts and am now nearly 2 weeks on without the outstanding balance of nearly £100 which i did on trust!! Needless to say i am very annoyed at the whole situation!!!

Has anyone else had issues with electronic transfers at all??? This whole situation has now left me feeling very bitter.

Paul

Are you certain the transfer has been made the other end?

I thought most of the banks had now introduced a one day electronic transfer? I've certainly never had any problems with them, always used to be 3 days like clockwork but I understand they're mainly on 1 day transfers now.

The buyer has been nothing but unreliable in getting the money to you and yet you assume it's the bank to blame for a slow transfer. My guess would be the buyer never did the transfer or did it late rather than the banks have screwed up. Also, it's 3 working days so if there was a weekend in the middle it would longer.

Transfer was done last Friday morning whilst i was on the phone so as sure as i can get. Counting Monday as day 1 rather than Friday means at least the 4th working day today.

electronic transfers - the technology is there so it can be done in milliseconds, makes you wonder who has the money for the 3 days!!?

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Originally posted by 02GF74
electronic transfers - the technology is there so it can be done in milliseconds, makes you wonder who has the money for the 3 days!!?

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We recently had a problem at work where money was sent to us via BACS but our bank held it in a "holding account" (ie the avoid paying interest account) for longer than they should have. Hence the other party said they'd paid and yet even 5 days later (until we kicked up a fuss) the bank refused to accept that they'd been sent any money....

The banks I deal with say the cash will be transferred the same day if it's done before 11am. However, the accounts the cash goes to can take up to a week to register it!!! I found this out when we transferred £13000 from an internet account into a current account to go and buy a car. There was no other way to get the cash out of the account other than use a cheque book or transfer the cash direct to the dealers account!!

I'll give my bank a call this evening if nothing registers online later then. I chased the supposed first payment 3 weeks ago and they confirmed then it should show on my account after 3 days so i'm not hopeful!!

Well flippin 'eck!!! I'm gobsmacked!! The bank's ears must have been burning as the cash has registered in my account within the last 15 minutes!!!!

I'm a happy bunny again now!!!

Well flippin 'eck!!! I'm gobsmacked!! The bank's ears must have been burning as the cash has registered in my account within the last 15 minutes!!!!

I'm a happy bunny again now!!!

For future reference.
I had the same problem trying to send some money to my son.
The bank wanted £20 to effect a transfer of £100! . They told me it could take 24hours or more.
I asked why, when it was all done electronically on the same main frame computer and if they were going to charge me £20 then it had better happen in real time.
Finally took two hours. Why?
Point to remember:
If you do it at the Post Office it only costs £12 and transfer to the recipients Post Office is guaranteed in 10 minutes
Fecking Banks

[Edited on 14/8/08 by Confused but excited.]