Hello, I have a few standing orders. They seem to be processed quite late in the day. Not sure when but by about 9am. However, this seems quite late, as most standing orders in other banks are processed just after midnight some time like 00:30 - 05:00. Contractually there is not problem, as they are processed eventually. But it does cause stress. It seems like other banks expect money to arrive by 7am and they generate low balance alerts that account has not enough funds to pay direct debits or what not. Which is an unnecessary number of SMS and emails. And it is frustrating to explain that "yes i have setup standing order" and "yes the money will be paid in later today" and "please just wait until 10am or so". Can Tesco Bank have an earlier in the night attempt of processing standing orders, like at 1am? Has anybody else experienced the same? I will now try to calculate and set all of my standing orders the day before, instead of the intended day, simply to avoid the awkward alerts & conversations about money.
Hi @xnox, sorry to hear that you've been having problems with your standing orders. I've spoken with our Payments team and they've said that standing orders are sent out in "tranches". This means that we batch together a lot of our payments and send them in groups. Times can vary for these transfers every day, but they are all completed by 9am at the latest. While this is the latest the transfers are made, we are processing payments from midnight onwards.
I've made sure to highlight the issue you're having with the standing orders though and our team will look into what they can do in the future.
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EmployeeVerified AnswerHi @xnox, sorry to hear that you've been having problems with your standing orders. I've spoken with our Payments team and they've said that standing orders are sent out in "tranches". This means that we batch together a lot of our payments and send them in groups. Times can vary for these transfers every day, but they are all completed by 9am at the latest. While this is the latest the transfers are made, we are processing payments from midnight onwards.
ScottW
