Usually your bank will do 2 kinds of electronic trf. One is a BACS payment (Bankers Automated Clearing Services) One is CHAPS payment (Clearing House Automated Payment Service) BACS is the more common, its free and takes 2-3 working days to credit another bank account in the UK, usually same day if it is the same bank, but it depends which bank it is. CHAPS is a same day transfer, often know as a Telegraphic Transfer, it cost from £20-£35 to do, but if you do it before 1pm on that day it can be in any bank account in the UK by 5pm (close of business). Usually used for more urgent payments, or large amounts where it would cost more in lost interest if you did it by BACS or chq. Solicitors like their money by CHAPS, as its cleared in their bank on the same day. sorry if this is way too late lol
