Help with First Time Bank Transfer

freaky_stuff

I need to get money from a Natwest account into a Nationwide account. However a cheque would take too longs and iv heard that bank transfers can be much quicker.

But iv never done on ebefore so dont know what to do. Is it something i can do online or do i need to go into a back and what information would i need?
Id rather do it online if that is possible.

Iv tried searching online but have so far found info on how to transfer money to different accounts withon the same bank, but not to other banks.

scottishblondie

You will need the sort code and account number of the bank account you want to transfer the money to. You are usually able to set it up online, but if you are unsure about it you should just phone your bank and ask them to set it up.

However, there are 2 types of transfer, BACS and faster payments. BACS take 3 working days (usually) to clear into the receiving account, and so probably aren't faster than a cheque. Banks also offer "Faster Payments", but not all of them can send and receive them, so if you need the money to go quickly you should ask them if a faster payment between the accounts is possible before you actually make the payment.

Olipro

freaky_stuff wrote: »

I need to get money from a Natwest account into a Nationwide account. However a cheque would take too longs and iv heard that bank transfers can be much quicker.

But iv never done on ebefore so dont know what to do. Is it something i can do online or do i need to go into a back and what information would i need?
Id rather do it online if that is possible.

Iv tried searching online but have so far found info on how to transfer money to different accounts withon the same bank, but not to other banks.

do you use internet banking with NatWest? I'm guessing you don't because if you did, I don't think you would need to ask this question.

to transfer to another bank you need the sort code and account number, in the case of nationwide you should find that information written on your nationwide debit card and in your cheque book.

freaky_stuff

Olipro wrote: »

do you use internet banking with NatWest? I'm guessing you don't because if you did, I don't think you would need to ask this question.

to transfer to another bank you need the sort code and account number, in the case of nationwide you should find that information written on your nationwide debit card and in your cheque book.

Iv just set one up this morning for natwest, but have had online banking with nationwide for a while

Olipro

then all you have to do is login to your NatWest account, go to the Payments section, add a Payee and it will guide you from there.

you also need a cardreader if you don't already have one.

freaky_stuff

thanks i was clicking on the wrong link. I do have a card reader but from another bank - so im hoping it will still work


EDIT: will do it oevr phone i it looks like i need a natwest card reader. thanks for the help guys.

Olipro

freaky_stuff wrote: »

thanks i was clicking on the wrong link. I do have a card reader but from another bank - so im hoping it will still work


EDIT: will do it oevr phone i it looks like i need a natwest card reader. thanks for the help guys.

no, that's wrong, all the cardreaders are interchangeable, the magic stuff is performed by your bank card, that's why they're interchangable.

willo65

You need to have ordered a Natwest card reader and after a couple of days any card reader will be fine.

stclair

freaky_stuff wrote: »

thanks i was clicking on the wrong link. I do have a card reader but from another bank - so im hoping it will still work


EDIT: will do it oevr phone i it looks like i need a natwest card reader. thanks for the help guys.

First payments done over the phone will not debit your account until the next working day just in case they forget to tell you.