The Student Room Group

Student finance

Hi on Monday I was supposed to receive a payment from student finance. But my bank sent it back because I have a daily limit of £5,000 and the total amount exceeded £5k. I was supposed to receive two payments one is from a loan and the other grants the total amount exceeded £5,000 in my account so I only received £1,700 but the second payment the bank rejected and sent it back to student finance. I called the bank and on Monday they sent the payment back to student finance. My question is how long does it take for the payment to appear in student finance that was returned back to them so they can send it back to my account thanks
Hi there. If this was sent back to us it usually takes a few working days to update and reschedule again. At this point, it will take another up to 3 working days for this payment to reach your bank account again. Thanks, David
Reply 2
Original post by David SLC
Hi there. If this was sent back to us it usually takes a few working days to update and reschedule again. At this point, it will take another up to 3 working days for this payment to reach your bank account again. Thanks, David

Among other things, I checked my online Student Finance account today and there was an update to the payment for the university saying the payment was blocked. I don't understand why the university, when it's a loan, is paying me directly as written in the post above
Hi Dlnng, in this instance we would be looking for you to provide alternative bank account details that allow for payments to be issued, without a daily cap. These can be updated by logging in to your online account and updating this. Once submitted, this is currently taking 4 working days for to be updated and allow reissue of the payment again. Thanks, Stephen.
Reply 4
my bank says the money was sent on monday but the finance student says they haven't received the payment. how long does it take and also my online account still says paid for the payment from monday. what is the direct process here? how does it work? thanks
Reply 5
my bank says the money was sent on monday but thefinance student says they haven't received the payment.how long does it take and also my online account still sayspaid for the payment from monday. what is the directprocess here? how does it work? thanks
Hi there, we would be currently awaiting for the return of the funds from the bank, this will be down to the bank's own timescale for return, however, once returned, this can normally be issued within 3 working days. Thanks. Stephen.
Reply 7
Hi is there anyone who has an overpaid card suits me? On Monday 6th January I was supposed to receive a payment from student finance but my bank rejected the payment and sent the payment back to student finance because the amount was greater than my daily limit that I can receive. Today is Wednesday 8th January but student finance told me that they have not received the payment yet and also the online student finance account still says paid. How long does it take for student finance to show that they have received the payment back? thanks
Original post by Dlnng
Hi is there anyone who has an overpaid card suits me? On Monday 6th January I was supposed to receive a payment from student finance but my bank rejected the payment and sent the payment back to student finance because the amount was greater than my daily limit that I can receive. Today is Wednesday 8th January but student finance told me that they have not received the payment yet and also the online student finance account still says paid. How long does it take for student finance to show that they have received the payment back? thanks

Hi there, we can't give a timescale on this. Once the bank returns this we'll be able to resubmit the payment to you. If you keep an eye on your payment status changing via your account, you'll then be able to see once this has been returned as 'failed' and once this is done we can resubmit this to your account. Thanks, Jason
Reply 9
Original post by SFE Jason
Hi there, we can't give a timescale on this. Once the bank returns this we'll be able to resubmit the payment to you. If you keep an eye on your payment status changing via your account, you'll then be able to see once this has been returned as 'failed' and once this is done we can resubmit this to your account. Thanks, Jason

This morning I had an update in my online student finance account and a failed has already been added there, but now I would be interested in how long it takes before student finance sends me the payment again. Will the payment date be scheduled today if a failed was added there today? Thanks
Original post by Dlnng
This morning I had an update in my online student finance account and a failed has already been added there, but now I would be interested in how long it takes before student finance sends me the payment again. Will the payment date be scheduled today if a failed was added there today? Thanks

Hi there, you'd be best to contact us either via the live chat in your account or on 0300 100 0607 so we can check this and ensure it's been resubmitted and provide you a timescale. Thanks, Jason
Reply 11
Original post by SFE Jason
Hi there, you'd be best to contact us either via the live chat in your account or on 0300 100 0607 so we can check this and ensure it's been resubmitted and provide you a timescale. Thanks, Jason

I called them and they received the payment back from my bank and we also confirmed the payment details over the phone but in the online learn student finance memo it still says failed. Does this mean the payment has already been sent but my online account is not updated?
Original post by Dlnng
I called them and they received the payment back from my bank and we also confirmed the payment details over the phone but in the online learn student finance memo it still says failed. Does this mean the payment has already been sent but my online account is not updated?

It likely means it's just not updated yet on your account. If you monitor this over the next view days to see the payment status changing. To view your payments please click into the correct academic year application, from the Information and Guidance links on the right-hand side under the Manage your Student Finance banner you can then select the ‘View your payments’ link. Thanks, Jason
Original post by Steven jones
Can anyone help me?
I’ve got student loan and have two scheduled payments for the same day , I’ve checked and only one has managed to hit my account , would anyone know where the other amount may be ?

Hi Steven, if you contact us on 0300 100 0607 or via the live chat in your account we can look into this and further assist you. Thanks, Jason

Quick Reply