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Xenophonix
How do I transfer money between two different banks? (English people please!)?
Hey, wondering if any finantial boffins can tell me a way to transfer money. I have an account with Natwest bank and an account with Lloyds TSB. What is the easiest way to transfer money from my Natwest account to my Lloyds account?

Thanks!
                     
 




Sua
You can either do this by setting up a direct debut or a standing order. Both of these methods use BACS system, basically it takes 3 working days for the funds to be taken from one account and credited to the second.

Contact your bank and ask them to set up a direct debit or a standing order so you can transfer funds from this account and credit it to your external bank account.

Another option is to use the CHAPS system, the funds are transferred from one acc to the other within a few seconds, but there is usually a £20 charge. This option is only normally used when you transfer large sums of funds, say if you was buying a house or expensive car.


Andre
If you don't have Internet banking,you can call NatWest and tell them what you want to do - and then they do it. Of course there is a fee to be payed for that service.


Klaus L
i found that the easest way is to get the cash out and pay the cash in
but you could do it quite easily with internet banking yourself


Tamsin D
I concur with Sua. It all depends on why and how often you wish the transaction to be made. A standing order is appropriate if the transaction is regular eg once a month on @ the same date AND for the same amount. With a standing order, however, you have control so that only you can alter details such as dates and amount. Direct debits are in control of the payee (the person who is getting the money) though if its a company then they are requied to give you reasonable notice of any change.
With a telegraphic transfer your bank will automatically send the funds from one bank to another but will charge a fee (min @ £20 depending upon bank) but the funds are cleared for immediate use. If you dont need cleared funds then a cheque drawn on one bank account can be paid into another not forgetting that if it is cash then it will be cleared if paid in at the bank counter or automatically transfered.


jamie5511
Rating
i think its called a wire transfer, you have to go to the banks
or you can just take the cash out of one and put it in the other


stevebutts@btinternet.com
Rating
Ask the first bank for a cashiers cheque and take that to the 2nd bank.


barton_richard
Rating
You can make out a cheque and pay it from one bank to the other or provide your bank details to one bank and ask them to transfer the money to the other bank.


MissBehave
Rating
Get internet banking with Natwest and make yourself (Lloyds account) a beneficiary. Transfer online.


hraie
Rating
my dear
you can try Paypal.com add your bank accounts, it just takes around one week from/to. that what i'm using now.
and
its
FREE


search_for_freedom
Rating
Why would you need only english people?? Other nationalities wouldnt know?


pj
Rating
You just have to write a cheque or cash.


thecharleslloyd
You can do it by phone or if you go into a branch of either bank they are more than happy to help. I do it all the time and it cost nothing to do it


'Dr Greene'
The cheapest way is to draw cash from one and physically pay it in at the other. (low cost and immediate interest on your new deposit)

Chaps / bacs / and TT can achieve the same more securely but cost more.

Cheques will take forever to clear so are best avoided if you don't want to lose interest.


engineer
Rating
Write a cheque is easy... on line you can do it instantly... needs internet banking though, or just take your debit card to the lloyds branch and fill a redit form


?
Rating
Is this a real question?

If yes go to NatwWest and ask them.


wont_cook
Rating
if you have online banking with Natwest, you just go into bill payments and set your Lloyds up as a bill using that sort code and acct number, give the bill any name you like, it doest matter. This is how i pay myself as a self employed person from my Nationwide account to my HSBC one.


spike
Rating
easiest way
take it out the one bank deposit it physically to the other
i cancelled my account with n.west
bad service
use hsbc


Sparky
Rating
The cheapest way is using Online Banking.


CHRIS S
Rating
give it to me and i do it for you


Lilac Lady
There are a few ways. You can write a cheque from one account to the other, or just take the money out and pay it in the other, or you can set up a standing order, which takes money out of one account and puts it in another, this can be set up for regular payments or a one off. Or you can do it by going into your bank and asking them to transfer it, or over the phone or on the internet. It's easy. Just phone Lloyd's and they will help you.


peggy*moo
Rating
Go in to your branch and they will be able to do it for you - you just need the Sort Code and Account Number (and possibly address of your branch) of the account in to which you want them to transfer.

The other option is to set up internet banking with them (if you account allows it) and then there will be a section online where you can do it yourself. They are pretty straightforward to use and generally have clear instructions.


Tara
By a person to person payment or if you are going to do it on a regular basis a standing order.

Your bank will be able to set it up for you.


Crystal
Hi it's called Bank Transfer. It can be done over the phone, over the counter or on the internet.

I bank on line, but you need to register. It's perhaps easier for you to go into the bank and do it. You'll need the person's name, bank name, sort code and account number.


EULALIE M
Rating
You may due a wire transfer buy phone from home from one bank to another you must know the sqew nummber" for the bank you are putting the funds in all it takes is getting in contact with both banks. also find out who charges the most for the service.to save your self some money .

If you do not trust the phone then write a check form one account to the other. But the money will not be avalable the sameday as a wire transfer.


Nick C
Wires cost $$$

See if you can do EFT...that's usually free.


Jeff J
Rating
Telephone Banking
Internet Banking
Debit Card


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