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Q:

What are the cut-off and payment release times for standard domestic payments?

A:

Cut off times

This is the time by which you'll need to fully approve a payment with a smartcard in order for it to be sent. 

For immediate payments (IPAY), the cut off time is 23:45 on the day you're making the payment.

For next day payments (NPAY) and future-dated payments (FPAY), the cut off time is 23:59 on the day before the payment is set to leave your account. 

 

Payment release times

This is the time we'll attempt to send the payment to the payee's account. (This depends on sufficient funds being available in your account at the time.)

  • Immediate payments:

These will be released almost instantly after being fully approved. 

Immediate payments approved after 18:00 will still be sent immediately, however they'll show on your statement as debiting the following working day.

  • Next day payments:

If authorised before 18:00, they'll be released from 02:00 onwards, the next morning. 

If authorised after 18:00, they'll be released from 08:00 onwards, the next morning.

Next day payments authorised on a non-working day, or due to arrive on a non-working day will be released from 08:00 onwards, the following morning. 

  • Future dated payments:

If authorised before 18:00, they'll usually all be released from 02:00 onwards, the next morning. 

If authorised after 18:00 on a Friday, to arrive on a Monday, they'll be released from 08:00 onwards, on the Monday morning. 

If authorised after 18:00 and set to arrive on a non-working day, they'll be released from 08:00 onwards, on the morning they're due to arrive. 

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