Cost of transferring cash

richpoortyke

Hi
I hope someone can help. Ive done some browsing on the bank site and couldnt find an answer
Im looking to shift each month some of my wage from my Halifax to my TSB accounts to help me organise my money and start building up some savings in the TSB. I used to do this by withdrawing at the ATM then going into the bank but now they dont like people going to the counter to do so (possibly due to covid but also because banks are advising us to use the machines in there which causes more delay waiting in a queue 
I cant see anywhere whether there would be a charge for doing this online but i dont want to send money over only to find its cost me to do so
Does anyone do this on a regular basis? Are there any charges for doing so? 
The only time ive transferred money is from my Halifax to my daughters Halifax account without charge
Any help much appreciated

eskbanker

You can set up a standing order to do this, with no charge.  Likewise, no charges for sending funds manually by ad hoc faster payment transfers.

Both options make far more sense than mucking about with cash withdrawals and deposits, pandemic or not!

GeordieGeorge

No charge for transferring money. Just set up a regular transfer in your online banking.

pbartlett

You can send money either as a regular payment or as and when you like using your banking app, or desktop (internet) banking or by telephone banking.

It may be easier if you use telephone banking at first and to set up the TSB payees as they can guide you through the process.

Once the payee is set up, send money as and when you wish 

No charge!

Brie

I do this with my wages via standing order from Barclays - no charge.  

Selinda

Just as an extension to this discussion. Not specially within the UK - but if you want to transfer money between accounts in different currencies and in different countries then you really cannot beat using WISE. You can get a bank account and account number setup from the UK - and transfers literally take seconds. The costs (if any) are also significantly less than using your usual money transfer services or bank account transfers.

Anyway - just thought I would mention that for anyone who isn't aware.

zurpher

Selinda said:

Just as an extension to this discussion. Not specially within the UK - but if you want to transfer money between accounts in different currencies and in different countries then you really cannot beat using WISE. You can get a bank account and account number setup from the UK - and transfers literally take seconds. The costs (if any) are also significantly less than using your usual money transfer services or bank account transfers.

Anyway - just thought I would mention that for anyone who isn't aware.

I think it would be cheaper with Revolut as long as it is not more than 1,000 Euro per month and on weekdays. 

PRAISETHESUN

zurpher said:

Selinda said:

Just as an extension to this discussion. Not specially within the UK - but if you want to transfer money between accounts in different currencies and in different countries then you really cannot beat using WISE. You can get a bank account and account number setup from the UK - and transfers literally take seconds. The costs (if any) are also significantly less than using your usual money transfer services or bank account transfers.

Anyway - just thought I would mention that for anyone who isn't aware.

I think it would be cheaper with Revolut as long as it is not more than 1,000 Euro per month and on weekdays. 

Revolut is fine when it works. As soon as it doesn't then odds are you'll wish you had never chosen to use them - they have a reputation for horrible customer service.

I also can recommend Wise - used them for a while now and I've never had issues. Just make sure to fully verify your account before you use it to make any large transfers.

colsten

zurpher said:

Selinda said:

Just as an extension to this discussion. Not specially within the UK - but if you want to transfer money between accounts in different currencies and in different countries then you really cannot beat using WISE. You can get a bank account and account number setup from the UK - and transfers literally take seconds. The costs (if any) are also significantly less than using your usual money transfer services or bank account transfers.

Anyway - just thought I would mention that for anyone who isn't aware.

I think it would be cheaper with Revolut as long as it is not more than 1,000 Euro per month and on weekdays. 

If this were true at all, it would be pennies. Not worth the risk, IMO, of chancing it with the terrible Revolut CS.

zurpher

colsten said:

zurpher said:

Selinda said:

Just as an extension to this discussion. Not specially within the UK - but if you want to transfer money between accounts in different currencies and in different countries then you really cannot beat using WISE. You can get a bank account and account number setup from the UK - and transfers literally take seconds. The costs (if any) are also significantly less than using your usual money transfer services or bank account transfers.

Anyway - just thought I would mention that for anyone who isn't aware.

I think it would be cheaper with Revolut as long as it is not more than 1,000 Euro per month and on weekdays. 

If this were true at all, it would be pennies. Not worth the risk, IMO, of chancing it with the terrible Revolut CS.

If you transfer up to 1000 GBP per month, it would be around 4 pounds, i.e. a nice coffee. But I get the negative points about account suspensions, limited CS and the push to signup for premium account. 

colsten

zurpher said:

colsten said:

zurpher said:

Selinda said:

Just as an extension to this discussion. Not specially within the UK - but if you want to transfer money between accounts in different currencies and in different countries then you really cannot beat using WISE. You can get a bank account and account number setup from the UK - and transfers literally take seconds. The costs (if any) are also significantly less than using your usual money transfer services or bank account transfers.

Anyway - just thought I would mention that for anyone who isn't aware.

I think it would be cheaper with Revolut as long as it is not more than 1,000 Euro per month and on weekdays. 

If this were true at all, it would be pennies. Not worth the risk, IMO, of chancing it with the terrible Revolut CS.

If you transfer up to 1000 GBP per month, it would be around 4 pounds, i.e. a nice coffee. But I get the negative points about account suspensions, limited CS and the push to signup for premium account. 

Hmh.

I don't know what deals you were looking at, but checking £1,000 transfers from GBP to EUR right now, I could buy at least 10 coffees @ €2 each if I went with Wise.

Edit: looking at monito.co, apart from Wise, there are currently another 9 companies that offer a better deal than Revolut. Obviously, none of the listed ones are banks, although Starling Bank would send €1,152, so still 2 or 3 coffees better than Revolut.............