How to transfer money to another bank account

Need to transfer money to another bank account in the UK? This step-by-step guide shows you how.

Tim Falk's headshot

By

Tim Falk

Updated

Fact checked

You can easily transfer money to another UK bank account from the comfort of your own home or while you’re on the go in a matter of minutes. Read on for a step-by-step guide on how to transfer money to another bank account.

Step-by-step guide to domestic transfers

Before you can transfer money online, you’ll need to make sure you’re registered for your bank’s internet banking service. This is a simple process regardless of whether you’re a new or existing customer, so contact your bank or head to its website to find out how to sign up if you haven’t already.

Once that’s taken care of, the process of sending a transfer to another UK bank account is quick and easy. For many digital banking apps, you’re usually given access to online or app-based banking as soon as your account is opened.

How to transfer money to another account

  1. Log in to your internet banking account.
  2. Select the “Payments” or “Payments and Transfers” menu.
  3. If required, select the “Transfer funds” or “Make a payment” option. You may also have the option to select “Transfer funds within the UK”.
  4. Select the account the funds will be transferred from.
  5. Select the account the funds will be transferred to. You will need to provide your recipient’s bank account details (name, sort code and account number) or, if you’ve transferred funds to the same account before, it may be saved in your internet banking portal.
  6. Enter the amount you wish to transfer and write a description.
  7. Review the details of your transfer and submit your payment.
  8. You will be given a receipt for the transaction and you’ll also see the transaction in your transaction history.

What bank account details do I need to send a domestic transfer?

You only need minimal details in order to send a transfer to someone else’s bank account. The only information your bank will need is:

  • Your recipient’s sort code and account number
  • Your recipient’s name for the account.

Although the exact process for sending a domestic transfer will vary slightly from one bank to the next, you will typically have the option to either send a one-off transfer or save your recipient’s details for future transactions.

Since 2020, many banks have introduced the ‘Confirmation of Payee’ scheme that checks whether the name you’ve been given matches the name linked to the account number and sort code you’re paying to reduce the risk of your payment ending up in the wrong account.

Why might I want to send a domestic transfer?

There are plenty of reasons why you might need to transfer money to another UK bank account. These include:

  • Transferring money to a friend or loved one
  • Buying goods or services
  • Paying a bill
  • Paying the rent or mortgage
  • Paying off your credit card
  • Transferring funds from your everyday current account into your savings account

Whatever the reason you need to send a transfer, it’s quick and easy to do so via your bank’s online banking portal.

Commonly asked questions about transferring money

Our “Best for” picks highlight top options in specific categories based on our independent evaluation (see our full methodology), while “Promoted” tags indicate sponsored placements. Selected products may not suit everyone. We track selected market offers, which may not cover every product. Products are listed in no particular order unless specified, and inclusion or ordering may be influenced by popularity or commercial agreements. Most comparison table data is provided by Defaqto or sourced directly from providers. Always evaluate your own circumstances and consider independent advice before making major financial decisions.
Tim Falk's headshot
Written by

Writer
Add to Preferred Sources

Tim Falk is a freelance writer for Finder. Over the course of his 20-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

Tim's expertise
Tim has written 10 Finder guides across topics including:
  • Banking
  • Personal Loans
  • Car Loans
  • Stock Trading
  • Cryptocurrency
More resources on Finder

More guides on Finder

Go to site