Sending money from HSBC to Co-op

yr20405

Hi if I was to send money from HSBC bank account to Co-op account would the bank charge me for sending?

Mr_Goodkat

yr20405 wrote: »

Hi if I was to send money from HSBC bank account to Co-op account would the bank charge me for sending?

If you use the faster payments system it would be free. Depending on the amount you may need to consider transaction and or daily limits.


If it is your account to your account then FPS would be fine, if it was to someone else or a business and a large amount then CHAPS may be appropriate but this is chargeable.

10pence

HSBC personal faster banking payments are free upto £10k

colsten

10pence wrote: »

HSBC personal faster banking payments are free upto £10k

This could be misunderstood as it mixes the limits per transaction with the charges for transfers.

HSBC limit per Faster Payment transaction is £10K. Many other banks have the same limits. You might be able to carry out more than one max £10K transaction a day, and you certainly can make a £10K transaction every day if you have sufficient funds. All these transactions are free of charge. All Faster Payment transactions at HSBC (and other banks) are free of charge

You can also ask HSBC (or any other bank) for CHAPS payments, aka Electronic Funds Transfers, for any amount your account sustains. All CHAPS payments will carry a charge, £20 in the case of HSBC. http://www.hsbc.co.uk/1/PA_esf-ca-app-content/content/pws/content/personal/pdfs/general-price-list.pdf

yr20405

Say if it was a £30 payment to someone else. Would I have to pay an amount to send that £30?

colsten

Your answer is in previous posts.

Yorkie1

As others have said, it depends on the method you choose to use. Faster payments are free. CHAPS isn't.