Turn on thread page Beta

Finance supposed to be going in tomorrow - midnight? watch

    • Thread Starter
    Offline

    20
    The Payments page on my Student Finance says my first payments (loan and grant) will by going in tomorrow. Does that mean they;ll be in at or soon after midnight?

    Just wondering because I live round the corner from a hole in the wall, so if I can just go there and draw some money out, I won't have to do it tomorrow morning on the way to college.

    Does anyone know if I can do that?
    Offline

    14
    ReputationRep:
    (Original post by Tootles)
    The Payments page on my Student Finance says my first payments (loan and grant) will by going in tomorrow. Does that mean they;ll be in at or soon after midnight?

    Just wondering because I live round the corner from a hole in the wall, so if I can just go there and draw some money out, I won't have to do it tomorrow morning on the way to college.

    Does anyone know if I can do that?
    Lmao, do you know how banks work?! They aren't open at midnight. it'll be between 9am and 5pm
    • Thread Starter
    Offline

    20
    (Original post by screenager2004)
    Lmao, do you know how banks work?! They aren't open at midnight. it'll be between 9am and 5pm
    Yeah, thanks for that.

    Bank transfers of that nature are electronic, remember. It's not like Rich Uncle Pennybags'll go to the bank in person and put money in our accounts for us, the thing's scheduled. Computers like that are on all the time, so I don't know if the schedule will be for 08:00, 09:00, or just 30/09/2010.
    Offline

    14
    ReputationRep:
    (Original post by Tootles)
    Yeah, thanks for that.

    Bank transfers of that nature are electronic, remember. It's not like Rich Uncle Pennybags'll go to the bank in person and put money in our accounts for us, the thing's scheduled. Computers like that are on all the time, so I don't know if the schedule will be for 08:00, 09:00, or just 30/09/2010.
    Nah it's usually processed within the next working day. (or usually with the student loans, the day after that!) I wish it was still Rich Uncle Pennybags though :P
    • Thread Starter
    Offline

    20
    (Original post by screenager2004)
    Nah it's usually processed within the next working day. (or usually with the student loans, the day after that!) I wish it was still Rich Uncle Pennybags though :P
    Arse. I was hoping to get some money out just after midnight, that way I'd feel like I actually had some money. Also, I owe my parents an accumulated fortune from over this last Summer.
    Offline

    13
    ReputationRep:
    Normally they are processed in the early hours of the morning. It depends on the bank, some may update at midnight. I know Natwest don't update until about 3am.
    Offline

    0
    ReputationRep:
    (Original post by screenager2004)
    Lmao, do you know how banks work?! They aren't open at midnight. it'll be between 9am and 5pm

    Do you know how ATM`s work?

    And FYI, most banking can be done electronically now, so even if you call them at 7pm on a saturday and transfer money it will go via the faster payment method, which means immediately, unless its over £100
    Offline

    0
    ReputationRep:
    (Original post by Tootles)
    Arse. I was hoping to get some money out just after midnight, that way I'd feel like I actually had some money. Also, I owe my parents an accumulated fortune from over this last Summer.

    My money goes in before midnight, some vary. Dont you do telephone banking? its pretty handy.
    • Thread Starter
    Offline

    20
    (Original post by Boho Patch)
    My money goes in before midnight, some vary. Dont you do telephone banking? its pretty handy.
    Nah, I try not to use the Internet or the phone for my banking. If I did, my money would be too easy to spend.
    Offline

    17
    ReputationRep:
    (Original post by flipshot)
    Normally they are processed in the early hours of the morning. It depends on the bank, some may update at midnight. I know Natwest don't update until about 3am.
    Do people not know how the modern banking system works? Electronic fund transfers and telegraphic transfers of this nature are processed immediately. The time it comes is when the Student Finance computer system decides to send it out, they probably do them in batches every few hours to avoid crashing the system. It has nothing to do with the individual bank's own system not updating :rolleyes:
    • Thread Starter
    Offline

    20
    (Original post by i.am.lost)
    Do people not know how the modern banking system works? Electronic fund transfers and telegraphic transfers of this nature are processed immediately. The time it comes is when the Student Finance computer system decides to send it out, they probably do them in batches every few hours to avoid crashing the system. It has nothing to do with the individual bank's own system not updating
    Thanks, this is what I was asking.

    Well, I've just been to the hole in the wall, and I've got doshes.

    :woo:
    Offline

    0
    ReputationRep:
    last yr mine went in 12am on the dot
 
 
 
The home of Results and Clearing

1,206

people online now

1,567,000

students helped last year

University open days

  1. Bournemouth University
    Clearing Open Day Undergraduate
    Wed, 22 Aug '18
  2. University of Buckingham
    Postgraduate Open Evening Postgraduate
    Thu, 23 Aug '18
  3. University of Glasgow
    All Subjects Undergraduate
    Tue, 28 Aug '18
Poll
How are you feeling about GCSE results day?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.