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Stupid Question - money transfer times
Fen1
Posts: 1,580 Forumite
OK. A bit panicky. I've transferred money from my bank account to a different bank's account online. The money went out yesterday, but has not shown up in my new account. When do I start to worry????
0
Comments
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Tuesday.
The likelihood is it will be there Monday.
Assuming you used a normal transfer0 -
Normal BACS.
CAn you tell I'm not a natural techie?0 -
Going off at a bit of a tangent, was it a lot of money, i.e. over £50k, and were you paying into a savings account? If so it might be worth considering making future transfers by CHAPS. Although you'll be charged somewhere in the region of £20 - £30, it will go into the other account on the same day. I believe BACS payments normally take 3 to 4 working days, so you could be losing out on some valuable interest, especially if there's a weekend in the middle of that period."The trouble with quotations on the Internet is that you never know whether they are genuine" - Charles Dickens0
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