Do banks charge you, if you want to transfer money to another bank?

RobLondon1984

The person I spoke to at the Abbey branch, said it would cost me £20. I rang Abbey, and he said it was free of charge.

I don't want to be charge, when I though it would be free.

I would of though all banks would charge you if you want to transfer to a different bank.

Its just that different people within the branch will give you different answers, so I am not sure who to believe.

Thanks

regularsaver1

transfer to another bank?

Usually this would be a CHAPs transfer where you are paying to hit the other account same day

or you can send by standing order for free, but take approx 3 working days

or abroad Telegraphic transfer - there would be a fee

RobLondon1984

regularsaver1 wrote:

transfer to another bank?

Usually this would be a CHAPs transfer where you are paying to hit the other account same day

or you can send by standing order for free, but take approx 3 working days

or abroad Telegraphic transfer - there would be a fee

What do you mean by standing order for free?

I would hope you are right

regularsaver1

you set up a standing order to send to another bank - in other word BACS transfer. I have not heard of a bank charging

Mikeyorks

From your previous thread :-

If I wanted to transfer money to another bank, I would be charged £20, or they can write a cheque to myself free of charge. Does this mean they can write me a cheque, paid to me and I can send it to Icesave so I can save £20?

..... I thought you were going to get Abbey to print you a cheque ... as you don't have a cheque book? If you want to do it electronically .. ask them to use BACS, which should be free. As previous response .. the £20 is almost certainly for a same day CHAPS transfer, which is normally only worth the fee for a high value / urgent transfer.

Crabman

Actually, some banks do charge to carry out a simple BACS transfer if you go into the branch. Others will charge if you ask over the phone.

Make sure you're familiar with the T&Cs and if it's free over the phone, just pop home and request it that way. With all banks/building societies it's free (currently) to do these BACS transfers on internet banking, which is great, except for those who don't use internet banking.

Personally I wouldn't touch abbey with a bargepole, their customer service is non-existent and they don't seem to care about their customer satisfaction at all.

RobLondon1984

Mikeyorks wrote:

From your previous thread :-



..... I thought you were going to get Abbey to print you a cheque ... as you don't have a cheque book? If you want to do it electronically .. ask them to use BACS, which should be free. As previous response .. the £20 is almost certainly for a same day CHAPS transfer, which is normally only worth the fee for a high value / urgent transfer.

I did plan for Abbey to print me a cheque under my name, and send the cheque to Icesave. The Icesave savings account, need the cheque to be paid under my name with a reference number. I am not sure if Icesave accept a printed cheque rather then written and if the reference number has to be printed or if I can write it on the cheque. I have been calling Icesave for the past few days, but noone is picking up.

I think I would just go for the Abbey e-saver, as its within the same bank. So theres no charge. I can't guarentee there won't be no charge if its done through BACS.

Mikeyorks

RobLondon1984 wrote:

I did plan for Abbey to print me a cheque under my name, and send the cheque to Icesave. The Icesave savings account, need the cheque to be paid under my name with a reference number. I am not sure if Icesave accept a printed cheque rather then written and if the reference number has to be printed or if I can write it on the cheque

Covered in full ... several times ... in the thread you started re the Icesave funding.