Questions re. Co-op Cashminder account

brclub

Hi guys,

My Cashminder account is now fully setup and I've started to use it as of today.

Just want to know though, when paying bills or transferring money to other bank accounts online is the transfer instant? With my NatWest step account I can transfer money to my Co-op account and it's there almost instantly... is it the same for Cashminder?

Thanks.

dojoman

Usually takes between an hour or two, before it shows up in your cashminder account.

Polly_Wolly_Doodle

Mine are a bit variable, sometimes it's there instantly, sometimes not, i think it depends on if the other company are using 'faster payments'. On the whole i think it is a bit slower to update than RBS etc are but they are providing a great service as far as i can see.

brclub

dojoman wrote: »

Usually takes between an hour or two, before it shows up in your cashminder account.

What about the other way around, if I transfer from my Co-op to NatWest will it get to NatWest straight away?

Ineedaname

I send money from one of my Cashminder accounts to another person's account with a different bank on a monthly basis. Most times it goes immediately via the 'faster payments' process. But this isn't guaranteed so you should always allow up to 4 working days for a transfer to arrive.

kepar

When we started making a rent payment to the landlords account(different bank) from a cashminder it took 3 days, but after about six months it became immediate. The same when I transfer to another bank account of mine after about six payments it became immediate.

One offs will take up to 4 days but this seems to change when it becomes regular.

dojoman

brclub wrote: »

What about the other way around, if I transfer from my Co-op to NatWest will it get to NatWest straight away?

I transfer money to a Natwest Acc and a Nationwide account, and it is roughly the same as if I transfer the other way back to my cashminder, It is always there with an hour or two.

brclub

Thanks for the info guys.

sundays

Hi im new here and this is my first post.

ive had a coop bank for a couple of years and recently they increased the amounts that could be received pretty much straight away, i think its now 500 pound and above 700 takes a couple of days, for me its very fast more or lest immediate.

andyf1980

Useful link here with faster payment limits for different banks:

http://www.ukpayments.org.uk/faster_payments_service/value_limits/