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Bank transfers

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Hey guys quick question, will the money go through quicker if I transfer it from a branch as opposed to doing it online? Read More
galgor Avatar
8y, 2m agoPosted 8 years, 2 months ago
Hey guys quick question, will the money go through quicker if I transfer it from a branch as opposed to doing it online?
galgor Avatar
8y, 2m agoPosted 8 years, 2 months ago
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#1
It can be as quick as instant online if you are doing it via the new faster payments service, it is free too between personal accounts. Check this website for more information:

http://www.vocalink.com/en/PaymentProcessing/Faster%20payments/Pages/FasterPayments.aspx
#2
if its a smallish amount, it should be within 2 hours online.
#3
Thanks for the link :D!
#4
it depends if its to the same bank or not if not prob still be 3-5 working days you coulld use chaps transfer but there is a charge for that (i used to work for a bank)
banned#5
dhshields
it depends if its to the same bank or not if not prob still be 3-5 working days you coulld use chaps transfer but there is a charge for that (i used to work for a bank)


diff Banks should be instant more or less, providing they are signed up to FP, which all major players should be.
#6
it depends if its to the same bank or not if not prob still be 3-5 working days you coulld use chaps transfer but there is a charge for that (i used to work for a bank)


Faster Payments is something which a number of banks have signed up to, it allows for virtually instant transfers between the banks which are a member - I work for Vocalink who run the faster payments network
#7
cool is nationwide part of this?
#8
or the coop
#9
Institutions currently sending Faster Payments include:

Alliance & Leicester
Barclays Bank
Citi
Clydesdale & Yorkshire Banks,
HBOS
HSBC
LloydsTSB
Northern Bank
Royal Bank of Scotland Group (incorporating NatWest and Ulster Bank)
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)


To check if the payment can be sent you can use the sort code checker at:

http://www.apacs.org.uk/sortcodechecker/index.html
#10
thank you both my banks can receive only, thought as much with nationwide they are bloody useless co-op much better get debit card with them
#11
I know that pahse 2 is coming out soon which should mean more banks are able to send, you will probably get something through the post to let you know when they can - Barclays and Halifax both sent me bumpf to tell me they could. As far as I know all banks have to be able to do it by a certain time (i dont know when though) I work on the ATM side of things not the FP - Sorry!

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