nick
Member of DD Central
Posts: 1,056 
Likes: 825
|
Post by nick on Jan 2, 2016 20:48:41 GMT
I was pleasantly surprised earlier in the week that my withdrawals hit my bank account next day. FC confirmed to me that they now process withdrawals by faster payments so transfers should be received next working day if your request is submitted mid-afternoon the day before (no precise cut-off given). A welcome development that helps short term cash management. I though I'd make folks on here aware of the change as they haven't seemed to have advertised this positive change and still recommend allowing 3 days for funds to clear - I guess communication has never been one of their strengthens..................
|
|
acky
Posts: 481
Likes: 262
|
Post by acky on Jan 2, 2016 20:53:45 GMT
I was pleasantly surprised earlier in the week that my withdrawals hit my bank account next day. FC confirmed to me that they now process withdrawals by faster payments so transfers should be received next working day if your request is submitted mid-afternoon the day before (no precise cut-off given). A welcome development that helps short term cash management. I though I'd make folks on here aware of the change as they haven't seemed to have advertised this positive change and still recommend allowing 3 days for funds to clear - I guess communication has never been one of their strengthens.................. Of course, Faster Payments usually pass through the banking system in minutes (certainly maximum a couple of hours) rather than next day, but I expect Fudging Cashflow batch them up and put them through once a day. Still, a good improvement on 3 days, as you say.
|
|
nick
Member of DD Central
Posts: 1,056
Likes: 825
|
Post by nick on Jan 2, 2016 21:06:29 GMT
I was pleasantly surprised earlier in the week that my withdrawals hit my bank account next day. FC confirmed to me that they now process withdrawals by faster payments so transfers should be received next working day if your request is submitted mid-afternoon the day before (no precise cut-off given). A welcome development that helps short term cash management. I though I'd make folks on here aware of the change as they haven't seemed to have advertised this positive change and still recommend allowing 3 days for funds to clear - I guess communication has never been one of their strengthens.................. Of course, Faster Payments usually pass through the banking system in minutes (certainly maximum a couple of hours) rather than next day, but I expect Fudging Cashflow batch them up and put them through once a day. Still, a good improvement on 3 days, as you say. They definitely use a manual batch process and hence the afternoon cut-off, otherwise as you have pointed out the withdrawal could occur within minutes at any time of day or night (when I transfer money between different bank accounts the transfers have always been near instantaneous).
|
|
