Why Can't Banks Transfer Funds to each Other?

V

Vega

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I'm trying to transfer funds from one Savings account (Anglo) to a new one (Nationwide UK) because it has a higher rate of interest. The money had no problem leaving my account (naturally) but never showed up at the other end. Over a week later the money re-appeared in the original account. Both banks are blaming each other, sender saying they sent it but it was sent back. Receiver saying they never received it.

Now receiver bank is giving me a different sort code and account number (that is not my account number) and an IBAN and telling me to try and do it that way, and no doubt get charged for it. This seems ridiculous.

Yes of course I checked and double-checked sort codes and account numbers, and yes they are right. How on earth in this day and age, can two banks not perform a simple transfer?

Anyone else have any problems with Nationwide UK (or Anglo) like this? Any ideas suggestions would be appreciated.

Thanks.
 
I have done many transfers from/to Nationwide UK without issue. There have been other posters who have reported issues with Anglo transfers.

Issues with wire transfers happen, the issue is often on the sender side.
 
I have savings a/cs with both Anglo and Nat(UK). I've never had any problem transferring into either account from my BOI current a/c.

But my Anglo account matures at the end of the month and I am going to move the funds into my Nat(UK).

However, I'll probably withdraw the funds into my current a/c first and then transfer into my Nat(UK).

Maybe consider going that route Vega? Into your current a/c first?
 
The IBAN and BIC code are the most important numbers you require for inter Bank transfers.
 
PolkaDot said:
I have savings a/cs with both Anglo and Nat(UK). I've never had any problem transferring into either account from my BOI current a/c.

But my Anglo account matures at the end of the month and I am going to move the funds into my Nat(UK).

However, I'll probably withdraw the funds into my current a/c first and then transfer into my Nat(UK).

Maybe consider going that route Vega? Into your current a/c first?
Click to expand...

Yes I was originally going to do that but last time I tried that the problem with my current a/c (AIB) was that I could not transfer more than 5k a day. It seemed to have some 5k per day limit that could not be exceeded. Does anyone know if that is just for online transfers? Would it be possible to move more if I went into the bank (I never go into banks anymore apart from for fx).

So it appears the problem could be with Anglo, interesting.
 
Try making a simple transfer from a Bank of Ireland branch to an AIB branch - suppose you agree to buy a car and the seller gives you his account details. Without a pre-encoded docket, your branch cannot accept it over the counter. To set up the payee on your Banking 365 online takes quite a few days. So the branch will almost certainly offer you a bank draft - an 18th century complex instrument to solve what should be a simple 21st century requirement.
 
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