BTs - How long?

The simplest form of BT is to do what I normally do when buying stuff on here:

I go into my bank draw out the cash amount then go to the seller's bank and pay it in to his account.

Simples - and almost instantaneous providing the 2 banks are near to each other.

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For further insight - Both sending and receiving banks have to have both sort codes set up to send and receive Faster Payments.

Lots of banks are still introducing FP and support is not all it could be right now - Quite often as some have described you can send a payment one day by FP then next day it will go via BACS....could be the sending bank or the receiving bank you will most likely have no way of knowing.

As petersmart says if it's that urgent then best idea is to put cash in over the counter - you know it's there right away then.
 
I assume that if you asked your own bank they would be able to advise on whether the receiving bank participates?
 
Another vote for Halifax being terrible for faster payments.

Do them every month, sometimes they go through no problems, other times take 3 days. I've tried splitting into smaller amounts and doing different times of day but seems to be no logic to if it will go through almost instantly or take 3 days.... Really does my head in.
 
My experience with Barclays is that they do it almost instantly as long as the other bank you transferring into updates fast enough
 
When using a bank transfer I just go to a branch of the recipients bank and pay in cash, it's in their account in an instant(just like paying it in yourself), if receiving money I ask the buyer to do the same.
Banks are a law unto themselves, they just like to hang on to cash for as long as possible for their benefit.
 
I bank with NW and have never had a problem with BTs
 
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