Halifax explains why it takes payments at this particular time of the day

Halifax has explained its rules around what time of day it processes payments. The bank set out its policies after a customer noticed a change to when their payments were going through. They contacted Halifax over social media saying that their standing orders were taking longer than usual to go through.

They asked the bank why it had made the change. In response, Halifax said: "Standing orders are scheduled to leave your account on the date you've set, but they can be taken at any time during that day, not necessarily first thing in the morning."

The customer went on to explain that for the past three years, all their standing orders had been processed in the early hours of the morning. Halifax provided further guidance to explain why the payments may have been going out at this time.

The group said: "Standing orders are processed during our overnight payment run, which happens the evening before the due date (Sunday-Thursday at midnight). If there's a bank holiday on Monday or Friday, the payment runs on the next working day."

Guidance on the Halifax website about the timing of direct debits and standing orders states: "We'll try to make the payment shortly after midnight on the due date. We usually process new standing orders on the same day you set them up."

You can make transfers instantly between Halifax current or savings accounts, including joint accounts. When making a payment to a UK bank account with another provider, these will usually be process using the Faster Payments system.

In this case, the funds will leave your account immediately and will usually be available in the other account within two hours. For some providers, it can take up to close of business on the next working day for the amount to go through.

When arranging a payment for a future date, Halifax will try to make the payment shortly after midnight on the date you have requested.