Need to transfer 20K to someone via banks

riverboat2001

Hi All,

I need to transfer 20K from a Santander account to a Barclays account, in the shortest possible time.

Basically i'm buying a vehicle tomorrow, I've put down the deposit, and want to complete the payment, once i'm there and have had a final check over the vehicle.

I don't want to stand around on a dealers forecourt for hours on end waiting for the payment to clear.

What's the best way for me to go about things?

Cheers

YorkshireBoy

riverboat2001 wrote: »

What's the best way for me to go about things?

Debit card, unless you don't have one for the Santander account?

In which case I think you'll have problems transferring £20K to your Barclays account tonight/tomorrow...unless you've previously sent money there online?

CHAPS may be an alternative, but that will likely involve a visit to branch...and a wait (on the dealers premises) that could last up until 3.30pm.

dalesrider

Debit/credit card if you have the funds in the account.

Any car dealer will know the drill. Your request will go for a security check and they will give you the phone to clear a few questions.
Stuff like. How long have you banked with Santander, any DD's and other general account questions.

Just remember to make sure you have some cash. As this maybe over santanders daily card limit and any further requests on the card could be declined.... Can leave you stuck if you plan to fill the car up after purchase....

riverboat2001

Don't really want to pay by debit card, really need to transfer the money (it's complicated)

I'm Santander, he's Barclays

dalesrider

Is it the dealer asking for bank transfer??

If it is say you can only pay via card.

Bank transfer = no comeback.......

YorkshireBoy

riverboat2001 wrote: »

(it's complicated)

Then I don't think you'll be able to do it from your online banking area.

YorkshireBoy

dalesrider wrote: »

Bank transfer = no comeback.......

Unless the deposit (referenced in the OP) was made by credit card.

dalesrider

YorkshireBoy wrote: »

Unless the deposit (referenced in the OP) was made by credit card.

True..

Santander have a 100K limit

YorkshireBoy

dalesrider wrote: »

Your request will go for a security check....

Are you speaking with insider knowledge of Santander's procedures?

If not it's probably more accurate to say it 'may' go for a security check. My car purchase balance payment by Halifax debit card earlier this year (for not much less than the OP is proposing) went straight through.

YorkshireBoy

dalesrider wrote: »

Santander have a 100K limit

They also have a policy of 'holding up' the first payment to a new payee for a day, which will mean the funds won't arrive at Barclays until Thursday...and that's if the OP has already gone through the OTP set-up for his account (if my understanding is correct).

dalesrider

YorkshireBoy wrote: »

Are you speaking with insider knowledge of Santander's procedures?

If not it's probably more accurate to say it 'may' go for a security check. My car purchase balance payment by Halifax debit card earlier this year (for not much less than the OP is proposing) went straight through.

NO. Just general debit card payments. Possibly some banks have diffrent limits.
Even PV trans will be refered for further security.