Anyone Had These Issues With Transferring Money Out Of An Account? (namely Barclays)

isayhello

Hi,

I went into a Barclays branch today and i wanted to transfer around 30k out of an esavings account into a nationwide account. However the cashier said that for that amount, i would have to do it through a CHAPS transfer which has a £20 charge...i didnt think i'd have to be obliged to do it that way? i've never heard of this before, though i could be wrong, has anyone had this issue before?

Finally he said he could transfer 5k into the other account without any charges, but it means 7 consecutive trips into the branch...grrr.

I dont have the pin card reader yet so cant do it online.

Eventually cashier in bank said, if i transfer it all back into my current account, he'd do a bankers draft for me, at a charge of £10, though he said he would waive the charge for me, so thats the route im gonna take i think.

I didnt think it would be such a hassle to transfer money out and then he wasnt sure if the money would be transferred the same day through faster payments...i left feeling a bit confused.

Thanks for any help and advice everyone.

isayhello

I take it nobody has had similar experiences when withdrawing large amounts from a branch then?

Bronnie

Not all banks are signed up to the Faster Payments service and it does have limits to the amount transferred. You are entitled to more definitive answers to your queries though. Have you asked to speak to the Personal Banker at your branch or enquired via Telephone Banking. I have always found the latter to be very efficient at Barclays.
Is it imperative for cleared funds to be in the new account immediately? If not it could be simpler to just write a cheque from your personal account. Sometimes for me, with these sort of issues, it depends on the moment as to how much time, energy and enthusiasm I've got to pursue them!

agsnu

isayhello wrote: »

I didnt think it would be such a hassle to transfer money out and then he wasnt sure if the money would be transferred the same day through faster payments...i left feeling a bit confused.

Nationwide only accepts Faster Payments to FlexAccounts on sort code 07-02-46 at the moment. And anyway, the limit for the FP scheme is £10k - anything over that will have to go through BACS or CHAPS.

You could transfer it to your current account and write a cheque, but obviously that may take some time to clear.

CLAPTON

isayhello wrote: »

Hi,

I went into a Barclays branch today and i wanted to transfer around 30k out of an esavings account into a nationwide account. However the cashier said that for that amount, i would have to do it through a CHAPS transfer which has a £20 charge...i didnt think i'd have to be obliged to do it that way? i've never heard of this before, though i could be wrong, has anyone had this issue before?

Finally he said he could transfer 5k into the other account without any charges, but it means 7 consecutive trips into the branch...grrr.

I dont have the pin card reader yet so cant do it online.

Eventually cashier in bank said, if i transfer it all back into my current account, he'd do a bankers draft for me, at a charge of £10, though he said he would waive the charge for me, so thats the route im gonna take i think.

I didnt think it would be such a hassle to transfer money out and then he wasnt sure if the money would be transferred the same day through faster payments...i left feeling a bit confused.

Thanks for any help and advice everyone.

A bit confused.

Once the money is in the Barclays currrent a/c why not just write a cheque out and pay it into Nationwide?... that's free.

withnell

Most banks will charge you for doing a BACS or CHAPS transfer at the counter!

isayhello

A bit confused.

Once the money is in the Barclays currrent a/c why not just write a cheque out and pay it into Nationwide?... that's free.

Hi, just to add, which i should have done earlier, i dont have a chequebook currently thats why i was trying to do it this way.

I've transferred all the money to my current account for now...just want to transfer it over. The bank should be able to write me a single cheque shouldnt they (a bankers draft? is that the same thing) to transfer the money. Are there usually charges for this, as the cashier mentioned a £10 charge but he said he'd waive it for me.

thanks

rb10

withnell wrote: »

Most banks will charge you for doing a BACS or CHAPS transfer at the counter!

BACS should be free .. that would be a very stingy bank that charged for BACS payments. CHAPS will, however, cost you.

withnell

rb10 wrote: »

BACS should be free .. that would be a very stingy bank that charged for BACS payments. CHAPS will, however, cost you.

BACS is free if you set uit up online, yes, but at the counter you normally have to pay a fee. Def do at NatWest anyway, I had issues with my card reader and wanted to make a transfer from my e-savings account, and was told i'd have to take cash cos the BACS had to be charged for.