Despite the fact that today payment is almost always made by credit card when shopping online, there are still people who prefer to use bank transfer when shopping. Or it may be the case that you need to transfer money from one account to another of your company, or pay suppliers or distributors. But do you know how to make a transfer?
Despite that is one of the most common among banksMany people don't face this until they have to. And, sometimes, ignorance means that they are not done well. To avoid this, below you will find everything you need to know.
What is a bank transfer
As we have told you before, a bank transfer is an exchange of money from one bank to another. What is done is to give the order to your bank to withdraw a certain amount of money and deposit it in another bank account, either from the same bank, or from a different bank.
Depending on the account you have, these transfers can be free or pay a fee to perform the service.
Types of bank transfers
Have you ever wondered how many types of bank transfers there are? You should know that depending on how they are rated, there are different groups. For example: uterine
If we speak for the place where transfers are made, you would have:
- Presentials.
- Online.
- From the cashier.
- By phone.
depending on the time (this is something you should know because in many banks this distinction is specified at the beginning), you would have:
- Ordinary transfer. It is the one that is usually done that takes 1-2 working days to reach its destination.
- Immediate. It is the one that is done almost in seconds, passing the money from one account to another on the same day. In fact, if it is done before 4 in the afternoon, it is processed on the same day.
- Urgent. It does not take more than a day, and it is always done through the Bank of Spain.
- Periodic. It is the one that takes place every x time. These are programmed to be carried out automatically.
Another classification that must be taken into account is depending on the place of destination, that is, to which bank account the transfer money will go. Thus, we find:
- National. When it is done in the same country as the person who “pays”.
- business. When the account to which the money is deposited is abroad.
- KNOW. It is similar to the above except that the transfer is made in euros and to countries that are within the European Economic Area.
How to make a bank transfer
If you ever find yourself having to make a bank transfer and you don't know how, here we are going to give you three different ways to do it. However, keep in mind that each bank has its own protocol and it is possible that in some cases you need "something else" to be able to carry it out. Fortunately, they will inform you of it.
What do you need to make a transfer
First of all, to make a money transfer, It is necessary that you have three mandatory and important data:
- On one hand, the data of the person who will receive the money. In this case we are talking about name and surname (or company), the recipient's account and their IBAN. Often the IBAN is more than enough, but if you have both data (which only differ by 4 figures), it won't be a bad idea.
- On the other hand, You will need to have a bank account to be able to make the transfer. If what you do is go to the bank and ask them to deposit money into another account, it is not properly speaking a transfer.
- And finally, you will need the concept of that transfer, that is, why you are paying that money to that company or person.
Be careful, because if the bank transfer is international, then the bank may also ask you to provide the SWIFT/BIC code of the account to be able to do it.
Once you have everything, you can make them quickly. We tell you how.
Make a face-to-face bank transfer
In this case, the first option you have is to go directly to your bank to make the transfer. So the first step is to go to your bank and wait for them to serve you.
At that moment, you will have to ask for a bank transfer. The operator will ask you for the account number of the person you are going to pay, the name and the concept. Also the amount of money you want to send.
Yes, it is the first time they may ask for your ID to verify that you are indeed the holder of the bank account with which you are going to do it.
Lastly, you will have to sign a justification document. It is the document with which you ensure that the transfer has been made.
And that's it. Once signed, and they have given you a copy, you will only have to leave the bank.
Online transfers
The issue of online bank transfers is a bit more complicated to explain. Not because they are more difficult to do, but because each bank has its own website and in each one they are done differently.
But, in general, when doing one online, you must locate the “transfers” section in the menu. You may be asked what type of transfer you want to do and once confirmed, you can enter your data.
For example, it will ask you first from which account you want the transfer to be made (yours), then the account number where you want to send the money. Next, it will ask you for the amount, as well as the beneficiary and the concept of that money transfer.
Lastly, you just have to confirm (some confirm it with the mobile).
Bank transfer at the cashier
If you don't want to wait in line at the bank and you have an ATM nearby, know that you could also make bank transfers through this device. For that, you must have with you your card or even the passbook (in some banks they allow you to do it with it). You just have to enter it.
In the menu that will appear, you must select bank transfers and then enter the recipient's account number, the amount of money to be sent and the concept (not all of them will have this option).
Finally, you will only have to enter your password and the transfer will be effective.
Is it now clear to you how to make a transfer?