Standing Order from one bank to another

skyranger

Apologies for potentially asking a stupid question but...

I've set up another bank account but for a few reasons (long story). I want my incomings and outgoings to go into my main bank still (HSBC) but want to make a transfer every month to go to my current account and one to my savings account (First Direct).

Is this something thats easy to do automatically as I'm probably being thick but can't see how I do it with HSBC internet banking as a standing order only seems to be give me the option of going to organisations and utilities etc but no banks to put in my transfer with the sort code and account details information.

Can anyone advise please?

benjus

I don't use HSBC so I'm not familiar with their online banking, but you might be looking in the wrong place by going to "Standing Orders". If you just go to the "Transfers" section you should be able to set up a regular transfer, which is effectively the same thing as a standing order.

However, do remember that although single payments using the Faster Payments system can be made at any time, standing orders made via FP are only made on working days - so the actual transfer may happen later than the date you select.

skyranger

That's fine. On the transfers it only links you to another HSBC account I have rather than options.

STanding order is correct but I think I've just come unstuck with what reference to put the reference bit. I'll give them a call but guess was holding off because the last time I rang a complany about this I Went round the houses and ended up doing it wrong. Cue a month before the payment got back to me.

Tupperware_Queen

they should give you the option to pay a person, rather than an organisation, I don't use HSBC, but have used a number of other online banking sites, and they all had this or a similar option. For reference, just put whatever you like, it shows up on the receiving account, so for example, when I do this to pay my son his pocket money, I put the reference as From Mum's LTSB Acc, and for payments to my saving account a similar thing

DUTR

skyranger wrote: »

Apologies for potentially asking a stupid question but...

I've set up another bank account but for a few reasons (long story). I want my incomings and outgoings to go into my main bank still (HSBC) but want to make a transfer every month to go to my current account and one to my savings account (First Direct).

Is this something thats easy to do automatically as I'm probably being thick but can't see how I do it with HSBC internet banking as a standing order only seems to be give me the option of going to organisations and utilities etc but no banks to put in my transfer with the sort code and account details information.

Can anyone advise please?

I don't have a HSBC account but I bank with barclays lloyds halifax to name a few and I SO from the barclays to the other accounts HTH

benjus

skyranger wrote: »

That's fine. On the transfers it only links you to another HSBC account I have rather than options.

STanding order is correct but I think I've just come unstuck with what reference to put the reference bit. I'll give them a call but guess was holding off because the last time I rang a complany about this I Went round the houses and ended up doing it wrong. Cue a month before the payment got back to me.

The reference can be anything you like - it will appear on your statement in case you need to remind yourself where the transfer came from.

The reference is only really important when lots of people are paying into the same bank account - e.g. if you pay council tax by standing order or bank transfer you need to put your council tax account number as a reference so that the council can assign the money to the correct property.

Ryanc0llins

i'm not to sure on the security methods of hsbc but it can be a bit of a pain to set up money leaving your account unless you've got all the details you need security wise to set a standing order up, i'm assuming there is 2 levels of security for online banking, a basic access and a higher level of security.. it sounds to me if the option isnt there then your not logging in using the higher level of security and the telephone banking will probably be the same, unless you previously set yourself up with it then its going to make it difficult to set up the standing order untill you receive the code pin sentry device, I suggest just popping into branch it would take literally 2 minutes to do once you've been served.