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Instant Money Transfer (help and advice?)
Luis-FlightManWithAPlan
Posts: 336 Forumite
Hello,I was after some info about Instant Bank Transfers.
Im expecting a small sum to be put into my bank fairly soon.Im with Natwest,and the money has either been sent today or last night,when should I be expecting it/Or when will it show up in my account....any ideas? (Its coming from abroad so Im assuming it'll be done online)
Also as with all NW Instant money transfers you have to give the sender the iban and bic code,I was also wondering if anything untoward can be done with those numbers?
Many thanks!:D
Im expecting a small sum to be put into my bank fairly soon.Im with Natwest,and the money has either been sent today or last night,when should I be expecting it/Or when will it show up in my account....any ideas? (Its coming from abroad so Im assuming it'll be done online)
Also as with all NW Instant money transfers you have to give the sender the iban and bic code,I was also wondering if anything untoward can be done with those numbers?
Many thanks!:D
Dec Wins : Gold Leaf Necklace
Jan Wins : Tell No One Dvd
Jan Wins : Tell No One Dvd
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Comments
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If you look at the Iban then you will see that all it is is your account number and sortcode with a few extra letters thrown into the mix as well which shows which country and which bank the account originates from. In this sense anyone who has access to the Iban will then know your account number. The BIC is simply the Bank Identifier Code, which is actually revealed in the IBAN.
As an example of a BIC: LOYDGB2L
LOYD = Lloyds TSB bank
GB = Great Britain
2L= Check sum of bank.
All of these details will already have been provided in the IBAN number. Someone knowing your account number and sortcode on their own is not necessarily dangerous but if they had any additional information on yourself,(passwords or PINs), then I would be cautious. However, when it comes to transferring money you can't really get around giving your account details.
As for how long it will take it really can depend on the amount and the way in which it has been transferred, and also where it is coming from. I'm assuming from somewhere in the EU or else they wouldnt've needed the IBAN.
A CHAPS transfer will be either the same day or within 1 working day and a BACS transfer can take up to 3 working days to reach you account. If the amount is quite large there may be a slight delay if the transaction is reviewed for fraud (pretty standard).
If there's no sign of the money within the next few days I'd get in touch to find out exactly how it's been sent.My mortgage costs me a sobering £13.06 A DAY!:mad:That's about 5 pairs of shoes a month i'm missing out on! :eek:0 -
Hi Lisa,thanks for the post :j
Its comng from the EU and is under £300 so it isnt a huge amount.
I figured id leave it till Tuesday as then itll have been 4-5 working days?
I was just wondering about the security of giving that imformation out as im going for a job interview today,and if I get it I want to see my wages!:rotfl:
Thanks again!Dec Wins : Gold Leaf Necklace
Jan Wins : Tell No One Dvd0
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