Faster Payments. You can choose to receive your loan funds by faster payment (by ticking the option on the Credit Union Copy). If we receive your agreement before 1pm on a working day we will endeavour to pay your loan that day. Loan agreements received after 1pm will be paid the following working day. We charge £2 to cover our costs for this service and it is your responsibility to ensure that we hold your correct bank details. We accept no liability for delayed payments.
Faster Payments. If you make a payment using Faster Payments (before the cut-off time), we’ll process it on the same day. This includes public holidays and weekends. The only exception is if you’ve asked us to make the payment on a future date. You can make Faster Payments online, from the Barclays app, over the phone or in a branch as well as some of our other Electronic Banking Services. Other kinds of payment We may get a payment instruction on a public holiday, at the weekend or after the cut-off time. If this happens, we’ll start processing it on the next working day. If you ask us to make the payment on a future date, we’ll do it then. If you are making an electronic payment in sterling between sterling accounts in the UK, the payment will reach the recipient’s bank no later than the end of the next working day after we start processing the payment. It’s often quicker than that. For domestic payment instructions you give us on paper (excluding some cheques) payment will reach the recipient’s bank no later than two business days after we process your payment instruction. How long do non-sterling or international payments take? How long a non-sterling or international payment takes will depend on the currency and the country it’s going to. See the table on page 50. External payment systems Sometimes we’ll need to send a payment using an external payment system, and we’ll decide when to do this. We may need to get you registered on that system first, so you agree that: • we can register you on any external payment system (which may include allocating you a user number) • you will comply with system requirements we notify you about • you will get and maintain any licences or authorisations needed for you or us to use the system. If you want to cancel or change a payment instruction Whether we can change or cancel a payment instruction depends on the type of payment it is – see the table below. Please note that unless we say differently elsewhere in the agreement, we’ll treat all your payment instructions as irrevocable. We’ll rely on these payment instructions when making payments and dealing with any external payment systems. Type of payment Can we cancel or change it? Immediate payments including card payments that are not recurring Regular or future payments including direct debits, standing orders or recurring payments on cards Cheques you have written Generally, we can’t cancel or change these payments because they are processed straight away. Sometimes when we use ...
