How long does a bank transfer take

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Bleak Lemming
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I have to send my mother some money on Monday, I'm with Natwest and she is with Lloyds TSB.

How long does it take for the funds to move to her account if I go to the bank first thing on Monday morning?

Am I right in saying these sort of transfers are instant these days?

If not is there any way I can pay some sort of fee to have it sent instantly?

Thanks people.
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flipshot
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If you go into a bank then they may only let you do a CHAPS transfer which costs around £30 but goes through on the same day.

Doing it online or via telephone banking is much easier and will let you send it via Faster Payments for free, this takes up to 2 hrs but is normally instant.
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Shani
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If you go into your mum's bank with her bank acc no and sort code, and obviously her name, you can pay it directly into her account and it will cost you nothing, if you can pay cash in. Online transfers sometimes only take 2 hours but can take longer, depending on the accounts.
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Bleak Lemming
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(Original post by Shani)
If you go into your mum's bank with her bank acc no and sort code, and obviously her name, you can pay it directly into her account and it will cost you nothing, if you can pay cash in. Online transfers sometimes only take 2 hours but can take longer, depending on the accounts.


(Original post by flipshot)
If you go into a bank then they may only let you do a CHAPS transfer which costs around £30 but goes through on the same day.

Doing it online or via telephone banking is much easier and will let you send it via Faster Payments for free, this takes up to 2 hrs but is normally instant.

Thats great thanks
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torchwood
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if its from a business account it usually takes about 2 hours (well mine does anyway) and up to 3 working days from a personal account. This is for online banking, it may or may not differ if you went to a branch.
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Juno
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It depends how big the transfer is. Banks have a limit on how much you can send by Faster Payments, so if it's over about £1000 or so (though this depends on the bank, some have larger limits) it will go by BACS which takes 3 days.
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Shani
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I do BACS transfers in work all the time, for amounts up to perhaps £5k and they're within 2 hours. It just depends on your bank's and the receiving bank's procedures etc.
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flipshot
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(Original post by Shani)
I do BACS transfers in work all the time, for amounts up to perhaps £5k and they're within 2 hours. It just depends on your bank's and the receiving bank's procedures etc.
They won't be BACS payments, that will be Faster Payments. BACS takes 3 working days no matter what the amount.
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ghn4hh5n6232d
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I transfer cash to a Lloyds TSB account from my current NatWest account (via online banking) on a regular basis and it generally appears in their account immediately.
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Shani
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(Original post by flipshot)
They won't be BACS payments, that will be Faster Payments. BACS takes 3 working days no matter what the amount.
You better tell HSBC to stop calling the link to the payment that you have to click to get to the page to put in the amount "BACS payment" then
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Bleak Lemming
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I think things are generally sent via CHAPS or something which is meant to happen on the same day?

(Original post by Linnean)
I transfer cash to a Lloyds TSB account from my current NatWest account (via online banking) on a regular basis and it generally appears in their account immediately.
Great news thanks
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Crawley Haywards
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(Original post by Bleak Lemming)
I have to send my mother some money on Monday, I'm with Natwest and she is with Lloyds TSB.

How long does it take for the funds to move to her account if I go to the bank first thing on Monday morning?

Am I right in saying these sort of transfers are instant these days?

If not is there any way I can pay some sort of fee to have it sent instantly?

Thanks people.
I sent someone something to Natwest from Bank of Scotland which is part of the Lloyds Banking Group/HBoS - and it was instant; funnily enough, this was on a Monday around 0900 - online.
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Bleak Lemming
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(Original post by Crawley Haywards)
I sent someone something to Natwest from Bank of Scotland which is part of the Lloyds Banking Group/HBoS - and it was instant; funnily enough, this was on a Monday around 0900 - online.
Thats great thanks, would that still be the case if it's to a new payee? (someone ive not sent anything to before).. cos I know the bank has to set it up on my account.

Hopefully that shouldnt affect it
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Bleak Lemming
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with the card reader and stuff ^^
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Derfel
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Usually within an hour or two. I've sent money to pay for my rent before from NatWest and they usually get it either within a few hours or the next working day. Also had someone send money from a Lloyds account to myself and they get charged £2.25 for an instant transfer, best to pop into your local branch and check.
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Bleak Lemming
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went to natwest and they said it should have transferred through by the end of the day
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Crawley Haywards
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(Original post by Bleak Lemming)
Thats great thanks, would that still be the case if it's to a new payee? (someone ive not sent anything to before).. cos I know the bank has to set it up on my account.

Hopefully that shouldnt affect it
Hi, Yup, it OK-ed as a new payee. But Bank of Scot don't seem to use CAP card readeers.
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Crawley Haywards
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Just as a future idea: if you want it to be totally instant, walk into a branch of Lloyds, and credit it over-the-counter.
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jenifferhomes
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What simply you have to do is to use 'Quick Transfer' box to the left of the 'Account summary' page, this will allow you to make an immediate transfer. If you face any problem in the transaction you can also contact NatWest Customer service here.
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Juno
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(Original post by jenifferhomes)
What simply you have to do is to use 'Quick Transfer' box to the left of the 'Account summary' page, this will allow you to make an immediate transfer. If you face any problem in the transaction you can also contact NatWest Customer service here.
It doesn't take 5 years, so the transfer will be done now
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