The best way to transfer money from one account to another?

Watch
This discussion is closed.
edufly
Badges: 0
Rep:
?
#1
Report Thread starter 16 years ago
#1
I hav recently set-up a student bank account with a rival bank. I'm just wondering how I would transfer a large sum of money from my previous account to my new student one...will I just have to write out a cheque and then pay it into my account at my new banks branch?? So the cheque will be addressed to me and signed by me!?


And I also intend on setting up a mini cash ISA as its a good idea to set away some savings whilst earning a decent bit of tax free interest (my student account interest is a lousy 0.1%).
0
edufly
Badges: 0
Rep:
?
#2
Report Thread starter 16 years ago
#2
(Original post by piginapoke)
Why not just do a credit transfer?

explain?
0
edufly
Badges: 0
Rep:
?
#3
Report Thread starter 16 years ago
#3
(Original post by piginapoke)
Go into the old bank, tell you want to transfer the money from account A into account B, have the account number and sort code of account B handy. They should transfer the money instantly.

oh right I see its all fairly simple now

its just having been with crappy barclays over the last few years I haven't explored the various services banks offer
0
Baron
Badges: 1
Rep:
?
#4
Report 16 years ago
#4
I join HSBC when i opened my student account - free 5 year £90 railcard or £50 put straight into your account The railcard is really handy
0
G4ry
Badges: 1
Rep:
?
#5
Report 16 years ago
#5
Either do it online, or write yourself a cheque.
0
Baron
Badges: 1
Rep:
?
#6
Report 16 years ago
#6
You could take it all out as cash and pay it into the other account but i wouldn't advise it..... incase you get mugged
0
edufly
Badges: 0
Rep:
?
#7
Report Thread starter 16 years ago
#7
(Original post by piginapoke)
Yes... which branch was it, and what time?

lol
0
Baron
Badges: 1
Rep:
?
#8
Report 16 years ago
#8
(Original post by piginapoke)
Yes... which branch was it, and what time?
just look out for the person with the big sack with a pound sign on the side
0
edufly
Badges: 0
Rep:
?
#9
Report Thread starter 16 years ago
#9
Banks take the mickey big time. Interest rates rise and they increase the interest consumers need to repay on loans instantly.
Yet when it comes to increasing interest on savings and current accounts they BLOODY GO ABOUT TAKING THEIR TIME!!
0
G4ry
Badges: 1
Rep:
?
#10
Report 16 years ago
#10
(Original post by eddiedaboss)
Yet when it comes to increasing interest on savings and current accounts they BLOODY GO ABOUT TAKING THEIR TIME!!
You're with the wrong bank. My bank gives me 4.5% interest on my current account and you only need to have £1 in the account. You can also move money out of the account whenever you want, without having to give any advance notice.
0
Farhad1985
Badges: 0
Rep:
?
#11
Report 16 years ago
#11
what's the best bank for int'l students??
0
amex
Badges: 1
Rep:
?
#12
Report 16 years ago
#12
(Original post by piginapoke)
Go into the old bank, tell you want to transfer the money from account A into account B, have the account number and sort code of account B handy. They should transfer the money instantly.
They won't transfer the money instantly for free! If its between two different banks, it'll take 3 business days (and you'll not get the interest for those three days). This is a BACS transfer.
Alternatively, you can pay them a fee (anything between £10 and £20 plus three days worth of interest) and have the money transferred on the same day. This is called CHAPS transfer.
0
Dajo123
Badges: 0
Rep:
?
#13
Report 16 years ago
#13
If you have a solo or switch card you can ring up your current bank and transfer the money over the phone, from the comfort of you sofa.
0
PQ
Badges: 21
Rep:
?
#14
Report 16 years ago
#14
(Original post by Farhad1985)
what's the best bank for int'l students??
There isn't one - they will all treat you like dirt I'm afraid

Contact you're uni's international office and see if they can recommend which bank has the best branches locally. Here in southampton nationwide seems to have the best attitude to international students while elsewhere in the country it might be different.
0
Swim By
Badges: 0
Rep:
?
#15
Report 16 years ago
#15
(Original post by Farhad1985)
what's the best bank for int'l students??
probably HSBC, its probably one of the biggest international banks if not the biggest.
0
amex
Badges: 1
Rep:
?
#16
Report 16 years ago
#16
(Original post by Farhad1985)
what's the best bank for int'l students??
Coutt's
0
LH
Badges: 15
Rep:
?
#17
Report 16 years ago
#17
(Original post by Swim By)
probably HSBC, its probably one of the biggest international banks if not the biggest.
I thimk it's the second biggest, though I think it's HQ is in London now?
0
amex
Badges: 1
Rep:
?
#18
Report 16 years ago
#18
(Original post by Lord Huntroyde)
I thimk it's the second biggest, though I think it's HQ is in London now?
I doubt it .... their big skyscraper thing is in HK. And it is Hong Kong Shanghai Banking Corp. I'd be surprised if their worldwide HQ is in london.

But yeah, everyone get HSBC. I own shares in them
0
LH
Badges: 15
Rep:
?
#19
Report 16 years ago
#19
(Original post by amex)
I doubt it .... their big skyscraper thing is in HK. And it is Hong Kong Shanghai Banking Corp. I'd be surprised if their worldwide HQ is in london.

But yeah, everyone get HSBC. I own shares in them
No, it has now moved its global headquarters to Canary Wharf.
0
PQ
Badges: 21
Rep:
?
#20
Report 16 years ago
#20
HSBC aren't that great for international students. Them and barclays seem to be least keen on providing a good service
0
X
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

How do you feel about your grades? Are they...

What I expected (168)
24.78%
Better than expected (141)
20.8%
Worse than expected (369)
54.42%

Watched Threads

View All