Which? uses cookies to improve our sites and by continuing you agree to our cookies policy

Santander slow on Faster Payments

Alliance & Leicester also stalling on initiative

Debit cards more popular over Christmas


More people used debit than credit cards over Christmas

Santander is lagging far behind other banks when it comes to implementing same-day payments. 

Five years after agreeing to phase in the Faster Payments (FP) service, the bank still won’t allow its customers to send same-day payments by internet transfer. It will also only allow a maximum Faster Payments limit of £300. In contrast, Barclays, Royal Bank of Scotland (RBS), HSBC and Lloyds TSB all allow a maximum limit of £10,000. 

Alliance and Leicester 

Santander subsidiary Alliance & Leicester is also trailing at the back of the pack – it too only allows a limit of £300. In 2005, 13 major banks agreed to enable same-day payment for internet and telephone transfers by November 2007, later revised to May 2008. 

A Santander spokesman said: ‘In order to ensure all our customers are protected properly, we are taking a measured, sensible approach to increasing limits.’

For more on Faster Payments, see our Which? Recommended Provider current accounts.

pound coins

Which? Money when you need it

You can follow @WhichMoney on Twitter to keep up-to-date with our Best Rates and Recommended Provider product and service reviews.

Sign up for the latest money news, best rates and recommended providers in your newsletter every Friday.

Or for money-saving tips, and news of how what’s going on in the world of finance affects you, join Melanie Dowding and James Daley for the Which? Money weekly money podcast

For daily consumer news, subscribe to the Which? news RSS feed here. And to find out how we work for you on money issues, visit our personal finance campaigns pages.

Back to top