Quickest way to move £

crockpot

Hi

I am going to have some money paid into my Nationwide account this week and need to move it to my Yorkshire building society account.

Is it best to move it online or use a cheque? Large amount so can not draw the cash out.

thanks

JoeCrystal

If it is truly a large sum, then I would suggest you make a cheque payable to yourself for Yorkshire Building Society. The reason is that you can present the cheque and get the receipt clearly confirming they got the amount. Sure, it will take some time for it to clear and transfer, but at least it is safe.

But you want the quickest way, then that would be on-line transfer but it does have it risks.

crockpot

It`s about £10k which is a lot to me, but some people might not think so.

JoeCrystal

A lot? that is a fortune for me. I generally use cheques for amounts higher than £100 in case of transferring money between accounts. Much easier to write it than carrying that amount of cash, it tend to make me nervous.

G_M

If you give them 3 days notice N/Wide might let you draw cash. That is the QUICKEST way provided you can get to a YBS branch to pay it in same day.
Not saying I recommend it though...

Credit_Check_Services

I always tranfer funds online, often for sums of £10K or more. Many banks now transfer the money to show in the recipient's account the same working day - I use NatWest, never a problem. I have found that Halifax take 3-4 days thouigh - to transfer in or out of the account.

My suggestion is to call your bank and ask them how long the online transfer takes.

Lansdowne

If you have Nationwide flex account, you can do an online transfer to YBS who have sort code etc for their different types of accounts.

evenasus

Last year, I transferred from Nationwide, on line, £40K - 4 lots of £10K in about 10 minutes. No problems. The money reached the other BS in a couple of days.

agsnu

The absolute fastest way of doing it is asking Nationwide to do a CHAPS transfer but they will charge £20 for the privilege (make the transfer before 1pm and it will be credited to the destination by the end of the day). The second fastest way is to make a "Bill Payment" from online or telephone banking (the transfer will go via BACS and be credited within 3 working days).

savetilibleed

crockpot wrote: »

Hi

I am going to have some money paid into my Nationwide account this week and need to move it to my Yorkshire building society account.

Is it best to move it online or use a cheque? Large amount so can not draw the cash out.

thanks

You could arrange cash though you may have to order the cash in £50's so the wad isn't too big to secret about your person.;) I'm assuming here you are paying to a non-internet a/c with YBS, in which case they would take the cash at a branch.

I withdrew £5000 in cash from a LTSB branch with no pre-arrangement (I did need my passport as ID) and got a pre-counted pack of £20 (I think) a wad about 3 inches thick or so. I didn't look at it other than secret it into the inside pocket of a coat and get on a bus to another bank to pay it in. My god I was never so glad to be rid of anything._pale_

A BACS payment, if they are both internet accounts will take about 4 days to YBS and safe enough. I've moved that much and more by BACS. If you are concerned might be worthwhile arranging a CHAPS transfer as already mentioned for the £20. Some banks charge £35 for CHAPS.

BTW YBS don't accept payments by the faster payment scheme.

steady__eddie

Just a small point, is there a cash limit that Yorkshire will accept ? Manchester will only accept £250/day and Chelsea have a £5000 daily limit on receipts of the folding variety !