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Would be very helpful if I could get the answers soon. I am out of country so my friend is going to do transfer from his account on behalf of me and i can't request him to call the bank to get these answers.
1) How long it can take to transfer money online from barclays bank to royal bank of scotland?
2) in online transfer is there any option to write reference? he need to write my name on reference.
3) if he go to bank and do it with the help of the bank manager do you think the process will be faster?
Thanks in advance.
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Quote: How long it can take to transfer money online from barclays bank to royal bank of scotland
3-5 days (ish)
Quote: in online transfer is there any option to write reference? he need to write my name on reference
Quote: if he go to bank and do it with the help of the bank manager do you think the process will be faster
1) instant!!, my partner and I always pay our depts to each other that way and its always near-instant at any time.
2) when you do an online transfer it asks you to put a reference (name, description etc) it will just need your account no and sort code to set up, your friend will need his keypad thingy to authorise the transfer)
3) this may lead to less sorting out and this will be easier if there is a lot of money being transferred
hope this helps
The transfer should be immediate but can take upto 3 working days. When he sends it online he will have to put a reference, this could be anything from numbers to names so your name will suffice.
Going into the bank will make it no quicker at all, online is the fastest and easiest way.
Some banks have formed a group who do something called the 'Faster Payment Scheme' - if the sending and receiving banks are both part of it, then the money should be there next day (I do this between two banks I have accounts with). I suggest phoning the helpdesk of both banks and ask the RBS when it will be credited. What they are effectively doing is waiving the 5-day clearance process and crediting the account on trust.
Sorry - it is 'Faster Payment Service:
Quote: Some banks have formed a group who do something called the 'Faster Payment Scheme' - if the sending and receiving banks are both part of it, then the money should be there next day
It could be quicker than that, depending on the two banks concerned.
I frequently transfer my "reward payments" from my Halifax accounts to my NatWest account - although the receipt always says "should be in the destination account within 2 hours", I've found it there by the time I've logged out of the Halifax system and logged into the NatWest one.
One day I'll try being logged into both at once to see how quick it actually is
I do it all the time, from my Barclays account to my Lloyds account, and it's transferred straight away, I do all my banking online, and never had a payment taking anything like the 2 hours max' they mention.
my bank says within 2 hours but its always been within 20 minutes
I think 'BAACS' takes longer than the 'Faster Payment Service'.
Some Building Society 'banks' still delight in profiting from delaying payments for 24 hours. Sometimes a telephone call chases them along.
My Grandson wanted to send me money so that I could book him a flight (He is here on a visit from Australia and doesn't have a suitable card). The payment took 3 days. when he challenged the bank they said it could be done faster for a fee.
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