bank transfers?

ONESHOTKILL · 1 Aug 2006 at 22:02

i had to send some money to pay for a item of the MM and we arranged for me to send a bank transfer.I have never done this so i went to my my bank this morning to send the money.I asked that i waned to send this amount to this bank account.The lady said we can do that but there is a small fee,i said how much,she said £20.I am shocked how can it cost £20 ?i was sending from TSB to natwest bank.I this right it costs money to send a transfer?

Kazatan · 1 Aug 2006 at 22:03

depends on your bank?

online banking with HSBC and it doesnt cost anything.

Adz · 1 Aug 2006 at 22:03

Sounds like you were trying to make a CHAPS (same day) transfer. A BACS transfer on a personal account should be free

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Kell_ee001 · 1 Aug 2006 at 22:05

If you don't have online banking, withdraw the money and pay it in yourself to a Natwest branch

Pez · 1 Aug 2006 at 22:05

Adz said:
Sounds like you were trying to make a CHAPS (same day) transfer. A BACS transfer on a personal account should be free .

Quoted for truth.

No high street bank in the UK charges a fee for 3rd party payments, unless they are via the CHAPS system.

iBankAllDay · 1 Aug 2006 at 22:06

Adz said:
Sounds like you were trying to make a CHAPS (same day) transfer. A BACS transfer on a personal account should be free .

This is probably what happened! As mentioned, BACS transfers (2 business days) are usually free. You wouldn't have to go in to a branch to do this, as it can be arranged over telephone/online banking

.

ONESHOTKILL · 1 Aug 2006 at 22:07

there is no natwest banks near me,i will just arrange to send cash or sumthing.I am sick of my bank anyways i am gona change to hsbc.£20 to send £80 is abit steep lol

Pez · 1 Aug 2006 at 22:20

ONESHOTKILL said:
there is no natwest banks near me,i will just arrange to send cash or sumthing.I am sick of my bank anyways i am gona change to hsbc.£20 to send £80 is abit steep lol

Did you listen?

To send a payment by BACS (which is 3 working days, not 2) is free with all highstreet banks.

Go back to your bank (Who is it?) and say you would like to transfer money to someone elses account, via BACS.

ONESHOTKILL · 1 Aug 2006 at 22:25

i was listening,but £20 fee to send any amount of money by anyway even if its by jumbo jet it is abit much.

my bank i TSB and i asked just to send from my bank to another she said it costed £20.Now surely if there was a cheaper way then she would have said?

UFX · 1 Aug 2006 at 22:30

If your worried about charges just withdraw the money from your bank & walk into a natwest bank & pay it in to his account.

ONESHOTKILL · 1 Aug 2006 at 22:34

my nearest natwest is 6 miles away

Hades · 1 Aug 2006 at 22:35

ONESHOTKILL said:
i had to send some money to pay for a item of the MM and we arranged for me to send a bank transfer.I have never done this so i went to my my bank this morning to send the money.I asked that i waned to send this amount to this bank account.The lady said we can do that but there is a small fee,i said how much,she said £20.I am shocked how can it cost £20 ?i was sending from TSB to natwest bank.I this right it costs money to send a transfer?

I have Lloyds TSB internet banking and it's free to transfer money to another account even in another bank (takes 3 days). Or just withdraw cash, walk into NatWest and pay it into his account directly.

As mentioned above it sounds like they quoted you £20 for a CHAPS payment (Clearing House Automated Payments System) which is typically used to make same day transfers for large sums of money.