A cpl of q's about bank transfers...

Oct 20, 2005 4 Replies

Hi there,


1) How long does it normally take for a transfer of funds from a Nationwide Account to a Halifax Account?


2) Can transfers from other banks be credited on a weekend?


Depends what sort of transfer.

Normal transferes between bank accounts take up to three working days.

I think not, but someone may correct me.

You do not say if it is from a Nationwide branch or from an Internet account.

If from a branch, Biscit is correct - or as good a guess as anyone can make.

By Internet , there are two answers:

Initially, Nationwide appear to send a dummy transfer to establish that the receiving account exists and tallies. This takes 3-5 days. The transfer then takes place and this is about 48 hours.

Subsequent transfers take the 48hours only.

If it is all electronic, I believe that the accounts are adjusted overnight every day.

If anyone has better information, please correct me.

Flop

This is true, there's so much information missing it's hard to tell.

If say transferring your cash ISA, you may have no choice.

If transferring £50 worth of savbings between two branch accounts, you may be as well withdrawing the cash, walking down the road, and depositing it again.

In message , Flop writes

If its electronic then it will go by BACS and get there in two days time.

Join the Discussion

Have something to add? Share your thoughts — no account required.

Didn't find your answer?

Ask the community — no account required