Abbey: stupid charges for telephone banking and a way round

krishna

I wanted to transfer some money from my Abbey current account into my sister's account at another bank (not abbey). They wanted to charge me £20 or so (don't remember exactly) for an electronic transfer!

Didn't think about it at the time, but next time I called I said I wanted to make payments. They asked if these were bills and I said yes. Then gave them account details and they were happy to do it, no problem.

M_Thomson

krishna wrote:

I wanted to transfer some money from my Abbey current account into my sister's account at another bank (not abbey). They wanted to charge me £20 or so (don't remember exactly) for an electronic transfer!

Didn't think about it at the time, but next time I called I said I wanted to make payments. They asked if these were bills and I said yes. Then gave them account details and they were happy to do it, no problem.

They were gonna do it via Chaps which is a same day transfer that's what the charge was for and you will find that most banks charge a fee for Chaps. The free transfer that they ended up doing was via Bacs which is always free, but can take 3-4 working days to get to the other bank.

Kazza242

At Cahoot, 'transfers' usually relates to a transfer to another Cahoot account held by the account holder. However 'payments' can include:

- Transfers to accounts held by someone else (at the same bank or elsewhere). These are usually done using BACS.
- Payments to a company.
- Payments to external accounts held by you.

If I want to transfer money to a relative (at the same bank or elsewhere), I always use 'payments' rather than 'transfers', as transfers of this type are usually done using CHAPS. I only use 'transfers' when I wish to, for example, transfer funds from my current account to my savings account at the same bank.

Walletwatch

I agree with M Thomson, Krishna. You probably got offered a CHAPS transfer which could be charged anything from £20 - £35 by a bank for initiating one.

buffers

Walletwatch wrote:

I agree with M Thomson, Krishna. You probably got offered a CHAPS transfer which could be charged anything from £20 - £35 by a bank for initiating one.

I agree with Walletwatch and M Thomson. In my experience I am usually told that there will be a fee for CHAPS before the deal is done!