Transferring money between bank accounts?

newmoneysaver09

Hi,

This is a trivial question, but one I'm not sure about.

I have 2 bank accounts (2 seperate banks) and was wondering if I can transfer money (over £1k) from one bank account to the other using a cheque from one of them and writing that cheque to myself for the other bank?

Or is it better to just call the bank and transfer manually?

Thanks

opinions4u

You can simply pay a cheque in over the counter, as you'd suggest.

Personally I'd get online and transfer it electronically.

newmoneysaver09

OK, thought so.

I will check online as it's easier, although I'm assuming there are no charges to transfer money between bank accounts in the UK.

xrjtg

No, normal bank transfers (BACS/Faster Payments) are free of charge.

realshannon

and how quick can this be done please? I keep forgetting to ask Halifax, we want to set up a standing order from one bank to another to take advantage of interest rate on Lloyds Priviledge (think thats right!) account but depends how long it takes to send it, and send it back to where it came from

CLAPTON

do a test transfer and see... probably about 10 minutes

realshannon

No, sorry, I wasnt clear, I meant from sending it via online banking, to being credited to another account, think its about 3-5 days (and this isnt for our benefit but for mum in laws account! at LLoyds - in case you read other thread) she has about 890 per month going in and if she deposits £1000 she can get a good interest rate so we thought by bouncing the money from hers, to ours and back again, it would work, just need to know when to do it time frame wise! thanks