First Direct money transfers

Cyberman60

colsten wrote: »

you could have got that cheaper by using a currency transfer service.

I wouldn't go that far. For people who don't need loans and overdrafts, FD is amongst the worst banks you can think of as they pay neither interest nor cashback in their current accounts.

They got a great regular saver, and anybody who has never held an account with them can also bag their switching bonus. Not a reason to actually use their current account as a current account.

It was a transfer for a friend to Iceland which I don't normally do.

I'll add I also have an offset mortgage that effectively gives me 3.7% tax free interest on my current account. :T

10pence

Don't see the problem here: for FD and HSBC Bill Payments (BP) or more commonly Faster Banking Payments can be made upto £10k per day per account. EFT will cost £20-25 depending on where it's going with no £ limit.

Fruit_and_Nut_Case

YorkshireBoy wrote: »

...the FLA used in the last para had me puzzled for a while.

I'm still puzzled.

colsten wrote: »

What is a POBS, btw?

Bump :beer:

agrinnall

Not sure which of these the OP is referring to.

http://acronyms.thefreedictionary.com/POBS

POBS

Acronym Definition
POBS Pirates of the Burning Sea (online game; also seen as POTBS)
POBS Preservation of Bandwidth Society
POBS Perception of Birth Scale (nursing)
POBS Psychological Operations Broadcast System
POBS Prioritized Optical Burst Switching

Cyberman60

agrinnall wrote: »

Not sure which of these the OP is referring to.

http://acronyms.thefreedictionary.com/POBS

POBS

Acronym Definition
POBS Pirates of the Burning Sea (online game; also seen as POTBS)
POBS Preservation of Bandwidth Society
POBS Perception of Birth Scale (nursing)
POBS Psychological Operations Broadcast System
POBS Prioritized Optical Burst Switching

Post Office Banking System ?

agrinnall

Cyberman60 wrote: »

Post Office Banking System ?

I did wonder if it was Post Office Savings Bank for dyslexic savers .

Archi_Bald

The OP probably hails from foreign shores where they appear to distinguish between POBs and GOBs.

My best guess is that a POB is perhaps a publically owned bank, as opposed to a GOB that would probably be a government owned bank.

https://books.google.co.uk/books?id=IndZK_n07CQC&pg=PA49&lpg=PA49&dq=pobs+bank&source=bl&ots=ww5iHJviCY&sig=-sdhLyJ8xmkjDreK7WlPeAUlJRY&hl=en&sa=X&ei=oKrxVO6NKY7U7AbZ_oAY&ved=0CDwQ6AEwBA#v=onepage&q=pobs%20bank&f=false

Add this to your 'useless information' folder.

System

This thread has totally baffled me - not too hard to do

EFT normally means Electronic Funds Transfer but I've never heard someone use it to refer specifically to international payments.

Normally something like SWIFT, Wire Transfer or even SEPA (which means I confuse it with the real SEPA until I know the context )

First Direct are naff but okay as Telephone bank, if you like that sort of thing and don't mind using the sparse and unhelpful HSBC branch network.

Vortigern

If POTS is Plain Old Telephone Service, POBS could be Plain Old Banking Service?

henm2

Both HSBC and First Direct use the electronic payment systems of bill payment and EFT for UK payments only.

Bill payments are for up to £10,000 from UK account to UK account and are generally called faster payments by all other banks. They do not incur a charge and usually reach the beneficiary account within 2 hours.

EFT or Electronic Funds Transfer to give its full title is usually called a CHAPS payment by all other banks. This is for payments above the £10K bill payment limit. Payments again are between UK accounts, reach the beneficiary account within 2 hours but incur a charge which varies between £20 and £30 depending on whether the beneficiary account is held within the HSBC group or not.

EFTs can not be done online.