UK bank transfers, explained

Sending money by bank transfer is quick and normal, but it is hard to undo if something goes wrong. This guide explains how each UK payment type works, what protects you and what to do if a payment goes to the wrong place.

Last updated 2 November 2026

What Bank Wire is for

Bank Wire is an independent information site about moving money by bank transfer in the UK. We explain the payment systems your bank uses, the checks that happen when you send money and the rules that apply when fraud or mistakes occur. We do not offer transfer services, compare providers or give financial advice. Each page lists its sources, mainly the Payment Systems Regulator (PSR), Pay.UK, the Bank of England, the Financial Conduct Authority (FCA) and the Financial Ombudsman Service.

The main UK payment types

When you press send in your banking app, one of a few systems carries the money:

• Faster Payments: the usual choice for online and mobile transfers, normally arriving within seconds. See Faster Payments explained.
• CHAPS: a high-value, same-day system run by the Bank of England, often used for house purchases. See CHAPS payments.
• Bacs: a three-working-day system used for direct debits, payroll and some bulk payments. See Bacs explained.
• International payments: sent across borders, often via the SWIFT network, with extra fees and exchange rates. See international transfers.

Check before you send

When you add a new payee, most UK banks run a name check called Confirmation of Payee. It tells you if the name you typed matches the name on the account. A mismatch is a serious warning sign, not a formality. Read how Confirmation of Payee works and why you should never override a warning without being certain.

If you are tricked into paying

Authorised push payment (APP) fraud happens when someone persuades you to send money to an account they control. Since 7 October 2024, UK payment firms must reimburse many victims of APP fraud on Faster Payments and CHAPS, up to £85,000 per claim, under rules set by the PSR. The rules have conditions and exceptions, covered on our page about APP fraud reimbursement.

If you paid the wrong account by mistake

A typing error or a wrong sort code can be corrected only with the cooperation of the other bank and often the account holder. Speed matters. Our guide to what to do if you sent money to the wrong account gives the steps in order.

Know the common scams

Fraudsters impersonate banks, the police, HMRC, builders and relatives. They push you to act fast and to move money to a "safe account". We list the patterns on bank transfer scams to watch for. If a call or message makes you anxious, stop, hang up and use a number you trust. Dialling 159 can connect you to participating banks to check a suspicious call.

Fees, limits and timing

Most UK bank-to-bank transfers in sterling are free for personal customers, though banks set daily limits and may charge for CHAPS and international payments. Check your own bank's tariff. Cut-off times and bank holidays can matter for Bacs and CHAPS. Details are in each payment guide, and your bank's own terms always take priority.

Keeping safe in practice

• Use a number or app you already trust to confirm payment details by a second route.
• Be very cautious of any change of bank details on an invoice.
• Take your time: genuine organisations do not rush you.
• Keep records of payments, messages and call times.

Where to go next

Start with the page that matches your question, or browse the FAQ. If you have a problem right now, skip to wrong account steps or call your bank straight away on the number on your card.

This is general information, not financial or legal advice. Rules, limits and fees differ between banks and change over time, so check with your bank and the official sources listed.

Spotted a mistake or have a question? Get in touch.