Withdrawal schedules and outages
Typically outward instant payments are sent immediately after they have been submitted, and received in the creditor's account shortly after that. Withdrawal schedules and regular outage periods introduce a delay between payment submission and the payment being sent.
Withdrawal schedules for savings accounts
| Withdrawal request time | Time payment is sent (GMT/BST) |
|---|---|
| Before 12:00 on a working day. | At or shortly after 17:00 the same day |
| After 12:00 on a working day. | At or shortly after 17:00 the next working day |
| On weekends and public holidays. | At or shortly after 17:00 the next working day |
The time a payment is received is dependent on the scheme and the receiving bank.
How do withdrawal schedules impact interest earned?
When a payment is scheduled, the payment amount does not get deducted from the account balance and no transaction is added to the account until after it's processed (at the scheduled-at time). For example, if you submit a payment worth £20 at 12:01, you will continue to earn interest on that £20 until the payment is sent at 17:00 on the next working day.
How do I know if my payment is subject to a withdrawal schedule?
Withdrawal schedules for cut-off windows apply to all Faster Payments.
Payments from bare trust and easy access savings accounts are also subject to withdrawal schedules for savings accounts. When you submit a payment from these accounts, the corresponding submission will have its submission-status set to scheduled and a scheduled-at field set to the earliest time that the payment can be sent.
Outage periods
Some payment schemes have regular outage periods. These are dictated to us by our scheme access provider. Payments submitted during one of the regular outage periods will be sent shortly after the period ends.
Regular outage periods for Faster Payments are:
- Every day between 23:40 and 00:05 GMT/BST
- Every Friday between 22:55 and 23:05 GMT/BST
Scheduled outages for specific schemes are advised through our status page. Payments made during a scheduled outage will be sent shortly after the period ends.