Bank transfer.. How much?

Splog

Splog

Suspended / Banned
Messages
6,257
Name
Steve
Edit My Images
No
Hi all

What do you think it will cost to transfer £500 from RBS to LLoyds TSB ?
 
It shouldn't cost you anything at all should it?

Unless it is a business account and even then it is only about 20p
 
It doesnt cost anything to send money by bank transfer from one account to another
We use this method all the time either by online banking or phoning bank although you can also go into the bank
 
Well when I asked in the TSB they told me a bank transfer would cost me £30, and this was to send £25 to another TP member.:eek:

Halifax told me if I wanted it to get there within a few days it would cost me £25-£30.
so some banks do charge.

Now if you know the receivers Bank and Account number plus sort code, you can pay it into their account for nowt.
 
Last edited:
I went into my bank (RBS) today to try and transfer some money and they said I would have to go into a branch of the recipients bank, with cash and pay it in that way. I can't do it through online banking with the RBS. Utter pish!
 
green said:
I went into my bank (RBS) today to try and transfer some money and they said I would have to go into a branch of the recipients bank, with cash and pay it in that way. I can't do it through online banking with the RBS. Utter pish!
Click to expand...

I,m with Ulster bank,a sister company to RBS,they wanted £45 to do a transfer of £85
 
eh? I can send money from my HSBC account to my German Sparkasse account and it only costs about £5 for £500...
When 'transferring' money from my HSBC to my Dad's account or any other mainland UK bank, it costs nothing...

A 'Bank Transfer' is something else...not sure quite what but something lurking at the back of my mind is telling me that it's a form of guaranteed payment, unlike a normal transfer of funds that takes a couple of days to clear, a Bank Transfer can be drawn upon immediately...
 
towershot said:
Now if you know the receivers Bank and Account number plus sort code, you can pay it into their account for nowt.
Click to expand...

How?? :) This is for a transfer from my own accounts - from me to me
 
Last edited:
online through your internet banking page or with a paying-in slip in the recipient's bank
 
towershot said:
Well when I asked in the TSB they told me a bank transfer would cost me £30, and this was to send £25 to another TP member.:eek:

Halifax told me if I wanted it to get there within a few days it would cost me £25-£30.
so some banks do charge.

Now if you know the receivers Bank and Account number plus sort code, you can pay it into their account for nowt.
Click to expand...

Well we are with the TSB and have paid large amounts of money by BT and it hasnt cost us a penny BUT if you pay by BANK DRAFT that costs you a silly amount to transfer thats the difference
 
Last edited:
Thanks everyone but:
RBS is a mortgage account (no cheque book etc) :thinking:
 
babytiger said:
Well we are with the TSB and have paid large amounts of money by BT and it hasnt cost us a penny BUT if you pay by BANK DRAFT that costs you a silly amount to transfer thats the difference
Click to expand...

I just asked them to make a bank transfer, and thats what I was told :shake:
 
towershot said:
:thinking::thinking: Just put it from the left hand to the right hand then,
end of story.

Unless there are dirty deads afoot.....:eek:
Click to expand...

Nothing dirty :) just money sat in an account doing nothing and I want to spend it :D see post above yours :)
 
I love them...I particularly like the way they just give you money...

I find that holding a Luger to a child's head in the Lobby while asking for the contents of the tills usually does the trick...
 
towershot said:
Well when I asked in the TSB they told me a bank transfer would cost me £30, and this was to send £25 to another TP member.:eek:

Halifax told me if I wanted it to get there within a few days it would cost me £25-£30.
so some banks do charge.

Now if you know the receivers Bank and Account number plus sort code, you can pay it into their account for nowt.
Click to expand...

Those are the sort of figures you pay for an international money transfer. If that's the way your bank behaves I would change banks.

A credit transfer is a perfectly normal transaction that should be part of any free banking service. free banking may be on the way out in the near future with interest rates so low, but at the moment it is still the norm.

Most interbank transfers are now instant too under the fast pay system. the exceptions are some of the former building societies that never seemed to have grasped the principle of being a bank.

I'm with Barclays, and any money transfer I do interbank in the UK is free.

You can't actually do the transfer without knowing the Bank, account and sort code. If fastpay isn't available it is usually quicker to walk into a branch of the payee's bank.

I paid for an item I bought on here this week that way because Nationwide isn't in the fastpay system.
 
On the subject of BTs

What's the longest they take?

When an amount is shown debited from me, it must surely be simultaneously credited to the recipient?
 
Merovingian said:
On the subject of BTs

What's the longest they take?

When an amount is shown debited from me, it must surely be simultaneously credited to the recipient?
Click to expand...

The longest one I've ever had was 5 working days, but I think it just depends on the bank.
 
Depends when you want it to arrive.

Same day guaranteed (just don't leave it till 3.39pm) - c. £25 - called an Electronic Funds Transfer (EFT)

Over the next few days (c. 3 unless there's a Building Society or ex - BS involved) - no cost.
 
I transfer money all the time from my Natwest account (using online banking) and it has never cost me a penny - I've definitely transferred to HSBC and Halifax definitely in the past as a minimum!!
 
I'd say if your bank is really trying to charge you for a bank transfer (I find that hard to believe) then you need to find a new bank.

I suspect you asked for something else, just send it via BACS (Bank Transfer) and you won't pay anything.
 
Amythyst said:
but I think it just depends on the bank.
Click to expand...
I'm going to have to blow this out the water, at least as far as Lloyds are concerned.

I've just spoken to them. They confirmed that BTs now operate under a system of FastPayment that all banks have signed up for (as pointed out above by trapper501).
This means a transfer normally initiates within 2hrs, but can extend overnight to be completed the next day.

So at the most, it should be 2 days providing no errors were made.
 
Last edited:
Merovingian said:
They confirmed that BTs now operate under a system of FastPayment that all banks have signed up for..
Click to expand...

major clearing banks use this, but watch out for those on the edge of the banking system. As I said earlier, Nationwide don't have it.

Best to check with your bank before making the transfer if this sort of speed is important to you.
 
trapper501 said:
As I said earlier, Nationwide don't have it.
Click to expand...
APACS said:
Banks currently receiving Faster Payments include:

* Alliance & Leicester
* Barclays Bank
* Citi
* Clydesdale & Yorkshire Banks,
* Co-operative Bank
* HBOS
* HSBC
* LloydsTSB
* Nationwide
* Northern Bank
* Northern Rock
* Royal Bank of Scotland Group (incorporating NatWest and Ulster Bank)
Click to expand...
Well, in part they do it seems!
 
Merovingian said:
Well, in part they do it seems!
Click to expand...

That's interesting. I went into Barclays to pay some bills and asked them while I was there if Nationwide did fastpay.

They put the transaction in and worked through it until the screen warned them that the transaction would not go through on fast pay so we aborted it and I went to a branch and paid in cash instead.

So, something is obviously amiss somewhere in the system.
 
trapper501 said:
So, something is obviously amiss somewhere in the system.
Click to expand...

Check the link I posted a couple of posts up. The sort code checker will confirm to you whether an account is part of the faster clearing scheme.
 
sdb123 said:
Check the link I posted a couple of posts up. The sort code checker will confirm to you whether an account is part of the faster clearing scheme.
Click to expand...

I don't have it anymore, but that is what the bank did for me, and how I know that the service wasn't available.
 
You must log in or register to reply here.
Back
Top