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How do I transfer money online to someone's bank account online using a credit card

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JG1965 | 03:36 Mon 10th Jan 2011 | Personal Finance
6 Answers
I want to transfer money into my brother's bank account at the Nationwide but I do live near a branch and I do not have a bank account but I have a pre-paid credit card, so is there anywhere online in the UK I can make a same day transfer into his Nationwide account using my card, I can only find companies that do transfers from the UK to other countries.
I have Paypal but he does not and it takes days to set-up a bank account there and he really needs the money going in today or the next day at the latest, he is in hospital at the moment so I am really want to help him if I can.
Can anyone point me to a website.
Thanks in advance.
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i would have thought no such service exists.
I don't think you can. The only way you could transfer money directly to him through a bank (I believe) is for you to have his account and sort code, and to go into a bank and make a counter transaction. I don't think it clears immediately and there will be probably be a charge.
It only takes a few days to set up with PayPal, as they have to make a couple of small deposits to the account to make sure it's working before they will approve the account. It really is the safer way.
The only thing I can suggest is that you ring your own credit card provider and ask them if there is any way that you can do this over the phone from your account, but again you will need to have your brother's account details to hand. I would be almost certain you could do it this way since this is how you would pay for other things over the phone - but do bear in mind that cash transactions on your card may cost more in terms of interest etc than purchases.
You don't have a <<credit>> card - you have a prepaid card. They are not the same thing

If you know his sort code and account number you should be able to pay in for free at the branch, having previously withdrawn the money from an ATM for whatever fee your card charges you. For a large sum you might need to spread it over several days.

Slight doubt - Nationwide do not AFAIK have paying in slips, but swipe the account's debit card when you pay in. I assume, but don't know, that there must be a manual fallback.
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Use the internet for quick access to money transferring. When you take advantage of transferring money online you'll get quicker results and you can even monitor it. Banks provide online services to their customers. Customers can take care of their account without talking to anyone and without needing to take a trip into the bank. If they need to transfer money from one of their accounts to another they can do so. They can also set up money to be sent to another account within the bank family. You could also set up a money transfer service that goes overseas. It can take a few days and up to a week for this process. It is still quicker than in the past. It originally could take weeks to reach an overseas area.

Check into sending a bank draft to your recipient and when they receive it they can with draw the funds from your banking account. These options mean the recipient also needs to be a member of your bank. A wire money transfer service can also be done at most banks. Anyone can do a wire money transfer, but if you are not a customer of that bank your fee will be higher. This service is also available at the post office. The money transfer services and the details vary from bank to bank. It is best to see what your bank has to offer you.

When you use any of these services you need to know how much money you are transferring. If it is local or in another state then knows the actual money amount is usually not a problem. Just be sure to account for any fees. If you are transferring this overseas or to another country then you need to know that area's money exchange rate. Furthermore, indicate the person that will receive the money and their account if using this form of money transfer service. Sometimes you also need the bank routing number. Remember after you've set up the payment that you get a confirmation number. Often this helps you check on the status of the money transfer online.

Find out all your online options, details, fees and other information for transferring money online before you need to use it. Having everything ready to go ahead of time will save you time and perhaps money. It will give you time to compare prices and services.
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