How long does an online bank transfer take?

A question about : How long does an online bank transfer take?

I'm wanting to send some money from my Santander bank account to a Lloyds TSB and HSBC account via online bank transfer.

How long should it take to complete?

I know a couple of years ago it was 3 or 4 days, but I seem to remember reading a year or two ago that the process was going to be speeded up.

Best answers:

• 3 working days im under the impression santander do not send faster payments at present.
• I pay money into my son's bank account with the Natwest. It's there by the next day. I was surprised to begin with because it used to take 4 working days. I used to be an Abbey National customer until the changeover. Also, it used to take a while for payments to show on my statement page, even though the balance would change immediately. Now, when I make payments, they are listed as soon as I go back to view my statement page...just seconds after confirming. I hope this helps.
• I set up a transfer at 10pm last night (Thursday) from the Halifax to Intelligent Finance. Both are part of the Bank of Scotland Group.
  The earliest the Halifax would allow the money to leave my account was Monday then another 3 days to arrive at Intelligent Finance. 40 years ago it took 4 days to put men on the moon yet in 2010 it takes a week to electronically transfer funds between Bank of Scotland Banks
• For a list of which banks send or receive faster payments see this thread.
• when i transfer from hsbc to first direct its instant. probably because they are the same group.
• knowing santander 3 days hahaha
• I apologise for adding to an older thread, however, I am still unclear on the step-by-step process that banks follow for on-line, inter-bank transfers. I am particularly curious as to what happens to transferred sums which do not qualify for Faster Payments (and are therefore subject to several days processing time), but which are immediately withdrawn from the initiating bank account when a transfer is made. Where are such amounts held and by whom? For example, I made a transfer of 25k yesterday from Halifax to a newly opened Santander account. The money has been withdrawn from Halifax, but it seems that I have no indication of where it currently is. It is certainly not now in the Santander account! Being that it is a new account, I am a bit worried about it.
• Please start your own new thread, you'll have a much better chance of getting replies as people don't like old threads being resurrected.
  Edit: Having had a quick look at your question the answer is that it's now in the BACS process. Ј25K is above the maximum allowed for FP from Halifax. Have a look at this for info on how it works BACS
• I recently moved to Santander and discovered this annoying fact. They do FPS transfers up to a maximum of Ј250 or Ј300. However, a normal normal transfer takes 3-4 WORKING days.
  It's faster to walk to a branch, withdraw the cash, and pop into a brand of the destination bank. Bonkers isn't it?
  Has anyone heard why this is still the case? Nearly all other banks are part of the FPS.
• MK,
  Santander is between Ј300 & Ј1000
  https://www.santander.co.uk/csgs/Sate...COM_TemplateA1
  Only problem is - which account is Ј300 and which is Ј1000 - best bet is to send 3 or 4 payments at say Ј300 each rather than 1 at Ј1000