What is a bank transfer?

Whether you’re paying a friend, paying for a service or moving money between your own accounts, it’s one of the most common payment methods. Read on to learn how it works, what details you’ll need, and whether any transfer limits apply.

You can typically transfer money online, in a branch or through mobile banking.

You can make a bank transfer to someone at the same bank as you, or at a different bank. They can also be used to send money internationally. 

Making a bank transfer is a normal part of managing your money and is very simple to do. You instruct your bank to make the transfer. This can be done either online, in a branch or through mobile banking.

The money then leaves your account and is sent by your bank. It will arrive directly in the account of the person receiving it.

There are 3 main types of bank transfer:

To transfer money to someone, you’ll need their bank transfer details, so your bank can send the money to the right place.

For BACS, CHAPS and Faster Payments within the UK, you’ll need:

For international payments, you’ll need:

Before sending a bank transfer, make sure you are sending the money to someone you know and trust, or to a genuine company. Scammers can pretend to be a bank, business, friend, or family member and ask you to transfer money. Always double check the recipient’s details and be cautious if you are asked to make an unexpected payment. 

Our guide on how a fraudster might contact you has lots of useful information and can make you more aware of potential threats.

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You can do this through your online banking service, mobile banking app, or by visiting a branch. In most cases, you’ll need to choose the account type you’re paying from, enter the recipient’s details, add the amount and any payment reference (summary of what the payment is). Then review and confirm the payment.

While the exact steps vary between banks, the process is generally quick and straightforward. For a detailed step-by-step guide on HSBC’s money transfer options visit our Making Payments page. 

This depends on the type of bank account transfer you make, and where the money is going. Internal checks can also affect the time it takes for a bank transfer to be completed.

On average:

It is important to know if you have a bank transfer limit before attempting to make a payment. 

At HSBC, you can transfer money if you have the balance available in your current accounts. However, the HSBC daily transfer limit depends on your account tier.

You can send up to your personal payment limit to friends and family. If you’re under 18, the limit is £5,000 per day but can be temporarily increased if required.

Payments to companies can be made up to £50,000, with higher limits available for Premier or Private Banking accounts. If you’re under 18, the limit is £25,000.

If you need to transfer a larger amount, for example making a deposit on a house, you’ll need to make a CHAPS payment. This can be done over the phone, in a branch, or by post. 

If you are transferring money between your own HSBC accounts, there is no limit to how much you can move. 

Wire transfers and bank transfers are both ways of sending money from one bank account to another. While the end result is the same, the way it works is slightly different for each.

Bank transfers use a system called an Automated Clearing House for the transaction. Wire transfers use the SWIFT system.

A wire transfer can be used to transfer money internationally. Bank transfers are often used for everyday transactions.

This article was last updated:19/10/2026, 04:10