Bank transfers

I had a bank transfer take 5 days once because the banks where not the same ie Lloyds and barclays however if the two banks are the same then the cash is transferred almost immedatly.
 
wegotitugetit said:
jsut need some quick help i have sold a item on ebay and the buyer wants to pay by bank transfer what details do i need to give him please

thanks in advance
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Bank name, branch, sort code, account number and your name.

It can be done with just the account number and sort code but the rest helps check the numbers are correct.

Most places seem to be on fast pay now so you get it within a couple of hours but your buyer may want to check, if not he/she can pay into a branch of your bank instead.
 
paulc said:
I had a bank transfer take 5 days once because the banks where not the same ie Lloyds and barclays however if the two banks are the same then the cash is transferred almost immedatly.
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They do not have to be the same bank for instant transfers, that would have been because one of the banks had not signed up for the "Faster payment system". not because they were not the same bank.
 
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I like using BT and not paying paypal, but it can be very variable. Best I've had was almost instant - the seller rang his bank and the payment was there about 30min after I sent it. Worst so far is 5 days which was embarrassing for me because I was expecting it to be fast, fortunately the seller was very understanding.
 
who? said:
I like using BT and not paying paypal, but it can be very variable. Best I've had was almost instant - the seller rang his bank and the payment was there about 30min after I sent it. Worst so far is 5 days which was embarrassing for me because I was expecting it to be fast, fortunately the seller was very understanding.
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I think it is always worth checking that the recipient bank is in fast pay (assuming you know already that yours is)

I don't have internet banking so I go to the bank to make payments. It is just as easy for me to walk into one of the others if they don't have fast pay.
 
I'm increasingly finding BT is getting quicker. I pay regularly to a different account and it gets there within 2 hours. One thing the banks are doing right hey.
 
My bank, the Co-op, says that in most cases funds will be available in the beneficiary's account within two hours, but both times I've used what should've been Faster Payments to fellow TP-ers, it's taken three days.
 
HSBC is great, normally sent the same day. They recently made some changes which sped up the process. Halifax still lags behind and takes 3 days but I typically don't use that account anymore.
 
I find it annoying that I can accept fast payment transactions into my account but it doesn't work when I send them.
Abbey are dragging their heels at fully implementing this service.
 
photon said:
My bank, the Co-op, says that in most cases funds will be available in the beneficiary's account within two hours, but both times I've used what should've been Faster Payments to fellow TP-ers, it's taken three days.
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Both banks need to be in the system though, were the recipient banks in it?

Last time I checked up on one, A&L I think it was, some branches were and others weren't. More places join all the time.

this is the site to use to check if a recipient bank can receive faster payments.

http://www.ukpayments.org.uk/sort_code_checker/
 
If we do this online it can take up to 5 days depending on the other persons bank but if we phone the transfer through its normally done in 10mins, they also ask the recipitents name too
 
I have done lots of bank transfers to different banks since the "no rip off" system was adopted and mine have always gone through within approx 15 minutes if not immediately.
 
trapper501 said:
Both banks need to be in the system though, were the recipient banks in it?
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Aye. I thought it may have something to do with the value of the transfer, but one was £155 so was below the daily ATM limit, for example.
 
MadaCup said:
HSBC is great, normally sent the same day. They recently made some changes which sped up the process. Halifax still lags behind and takes 3 days but I typically don't use that account anymore.
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:thinking:I am in the Halifax (HBOS) mine go in and out under the "Faster Payments System" and have been for some time now.
 
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