Payments for classifieds

Mike54

Mike54

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Hi, I have seen posts regarding payments in the classified forum and one of the references is payment by BT.( Paypal, cheque etc I understand but not BT), Wife has just come in and looked over my shoulder and said "Bacs Transfer" is she correct?.
 
Mike54 said:
Hi, I have seen posts regarding payments in the classified forum and one of the references is payment by BT.( Paypal, cheque etc I understand but not BT), Wife has just come in and looked over my shoulder and said "Bacs Transfer" is she correct?.
Click to expand...

:thumbs:
 
More generally: "bank transfer".

Note that if you want the transfer to arrive speedily via Faster Payments you should check that both your bank and the recipient's are part of the system, and use CHAPS rather than BACS.
 
photon said:
More generally: "bank transfer".

Note that if you want the transfer to arrive speedily via Faster Payments you should check that both your bank and the recipient's are part of the system, and use CHAPS rather than BACS.
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Or pay cash into the bank of the seller
 
photon said:
More generally: "bank transfer".

Note that if you want the transfer to arrive speedily via Faster Payments you should check that both your bank and the recipient's are part of the system, and use CHAPS rather than BACS.
Click to expand...

chaps = £25-30 cost..fast but not really necessary

paypal i assume is ok..they do a gift service..:cool:
 
Luckily it's not British Telecom! They'd take all year to sort it out...
 
photon said:
More generally: "bank transfer".

Note that if you want the transfer to arrive speedily via Faster Payments you should check that both your bank and the recipient's are part of the system, and use CHAPS rather than BACS.
Click to expand...

From HSBC you do it as a BACS payement, but both banks have to be using the faster payments system.

There is a list of which banks are doing it, but I think it is a bit of a PR stunt at the moment.
Nationwide are shown as a participating organisation, but when you ring them to ask about it, only certain accounts have it. i.e not all current accounts and the limit is only £10 per transaction.

It has been like this for about 18 months now.
 
Just for info... if you want to check if a particular bank subscribes to the faster payment system where payments are usually cleared within a couple of hours, check this LINK

All you need is the sort code to check.
 
Bill Roberts said:
Just for info... if you want to check if a particular bank subscribes to the faster payment system where payments are usually cleared within a couple of hours, check this LINK

All you need is the sort code to check.
Click to expand...

That's only for bank accounts that can receive faster payments.
With my Abbey account I can receive faster payments but I can't send them.
Abbey are dragging their heels and it's rather annoying.
 
My son has a Halifax building society account and that certainly does faster payments ok. But my Yorkshire BS account doesn't, so if I ever want to transfer money to my bank (which does faster payments) it still takes 4 business days.

Actually that's pretty awful, because we all know it takes miliseconds in reality, and it's just another way of screwing more profit out of you.
 
Faster payments service is now up and running for DCA (direct corporate access) but currently only Barclays are supporting it, the rest of them haven't got their systems up together yet.
I think theres a few that are doing interbank though.
 
My OH and I bank with 2 different banks - my account can send and recieve faster payments, so if I send money to him, takes a couple of hours. His can receive, but not send, so if he sends money to me, takes 2 to 3 days.....




.......so no change there then in the overall scheme of who does what for who and how quickly :bonk: :lol:
 
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