Halifax Bank Of Scotland Transfers?Hello i would like to know if you can do the follow with a Bank Of Scotland Easycash account + Make bank transfers to other banks i.e Lloyds TSB and if so how long will this take + How Long does money have to be in your account before it becomes available for transfer + Is there a particular age you have to be... | |
This applies to any bank, not just Halifax.
Bank transfers can be done to another bank by credit transfer (you'll get the form at your bank), or by standing order or direct debit. Like cheques, it goes through the clearing. Allow about a week for it to arrive.
If the money in your account was deposited by cheque, it will take a week or so until it "clears", then the funds are available for use. If the money was deposited by cash or via wages lodged by your employer, these funds are clear and can be used straight away.
You can put any amount of cash in your account. It does not need to be any specific minimum or maximum, or in round figures. Some accounts (usually offering interest as an incentive) specify a minimum to be lodged monthly, but it could be over several transactions, not just one single one.
You can make a bank transfer at any age, especially if you are sending cash. For direct debits and standing orders, you need to have a current account, and occasional banks specify a minimum age to open a current account. You need to be 18 before you can get a loan or overdraft facilities, as these are legal agreements and you need to be of age. I'm not sure about this, but it is possible that standing orders and direct debits may be viewed as legal agreements too.
If you are uncertain, you can always ask your bank.
