How long does a bank transfer take with Halifax?

Need to pay a friend, family member or bill with your Halifax bank account? If so, it’ll be really useful to know when the payment will arrive.

In this short guide, we’ll cover how long bank transfers take with Halifax. But let’s start with what info you’ll need to set one up.

Things you need to make a bank transfer with Halifax

To make a payment to someone in the UK using your Halifax account, you’ll need to provide:¹

• The recipient’s account number and sort code
• The exact name of the account you’re paying – exactly as it appears on the recipient’s bank statement, so you can’t use nicknames or abbreviations
• Their account type – whether it’s a personal or business account.

Halifax uses the new Confirmation of Payee (CoP) system. This is an automatic account checking service designed to match the details you’ve provided with a registered bank account, to reduce the risk of fraud. This is why you need to be so careful when providing the account name.

To make an international transfer with Halifax, you’ll need all the info above, plus some additional details:²

• The International Bank Account Number (IBAN) for your recipient. Calculate and Halifax IBAN number here.
• The Bank Identifier Code (BIC) or SWIFT code for their bank.

How long does a bank transfer take with Halifax?

UK bank transfers with Halifax should be sent via Faster Payments, arriving in under 2 hours. However, it can potentially take until the end of the next working day.³

International transfers usually take longer, depending where you’re sending to. Here are the timescales for sending money abroad with Halifax:⁴

• Next working day – for payments to EEA countries in euros
• Up to 4 working days – for payments in other currencies to EEA countries
• Up to 4 working days – for payments in any currency to a restricted list of countries (including North America, Canada, Australia, South Africa, New Zealand and the Middle East)
• Up to 14 working days – for payments in any currency to all other countries.

Isn’t a bank transfer instant?

If you send a payment through your Halifax account to someone in the UK, it should arrive almost instantly. But delays can arise if the receiving bank doesn’t also use the Faster Payments system, or has more complicated processes for receiving funds.

International bank transfers also tend to take longer, perhaps even as long as 14 days depending on the destination.

Are there any faster international money transfer options?

If you need a quick international money transfer service that also saves you money, it’s Wise to the rescue.

Sign up for an account with Wise and you can send worldwide with tiny fees and fair exchange rates. In fact, it could be up to 8x cheaper than using your bank⁵.

As well as saving you money, Wise is also fast, reliable and secure. Your money will arrive in under 2 working days⁶, no matter where you’re sending to. But to be honest, it usually happens much quicker.

How do I make a transfer with Wise?

To start sending money abroad with Wise, simply open a new account and follow these few easy steps:⁷

1. Enter the amount you’d like to send, or how much you want your recipient to receive
2. Choose from ‘personal’ or ‘business’ transfer
3. Fill in your details, including your address
4. Fill in the recipient’s information, including their bank account details
5. Review the transfer to make sure everything’s right, and check that you’re happy with the fee
6. All good? Hit ‘send’ and your money will be sent
7. Receive instant confirmation via email or in the Wise app.

Join Wise for free

So, there you go – all you need to know about sending bank transfers with Halifax.

We’ve covered the key details you’ll need to set one up, and how long it could take when sending within the UK or worldwide. You should be all ready to pay your first bill or send money to a friend.

Sources used:

Sources checked on 20-January 2021.