Money Transfers

Before you start

Creating a money transfer

Limits and timescales

Unsuccessful transfers

You can use money transfers to quickly and easily transfer money:

Between your Co-operative Bank and smile account
To a known payee — someone you've paid before
To a new payee — someone you haven't paid before.

On this page, we explain how to create a money transfer, what the limits are and the possible reasons your transfer could be unsuccessful.

Before you create a money transfer

You'll need a few things handy, including access to your phone so you can receive a verification code, and the below information.

You'll always need:

The amount you want to transfer
The date you wish to transfer it, if it's not an immediate payment
Payment reference (if you're paying a business).

To transfer money to a payee you haven't paid before, you'll also need:

The payee's sort code and account number
The payee's full name, as referenced on their account.

Create a money transfer in online banking

There are a few different ways to create a money transfer in online banking. They differ depending on the account type, whether you've transferred money to the recipient previously, or if you're transferring between your own accounts.

Create a money transfer in the mobile app

Log into the mobile app, and:

Select Pay & Transfer.
Select the account you want to transfer from.
Select the type of transfer you want to make.
Select the account you want to transfer to.
Complete the information required in each box.
Select Continue for payments to an existing payee or Verify payee if you're paying someone new.
Finally, select Confirm & pay to complete the money transfer.

If you're paying a bill, always check the information on the bill. You may need to contact the company you're paying. You can do this on a trusted phone number, website or verified communication.

Finally, check if your transfer has been successful

In order to confirm that your money transfer has debited your account, you may need to log out of your account and then log back in.

If your transfer is successful

If successful, you'll see a confirmation message saying that your payment request has been sent. We'll also save the details of the person or business you paid as a 'saved payee'. Now you'll be able to transfer money to the same payee without having to enter their details again.

When you've finished, you can click 'Return to my accounts' to go back to the main app screen.

If your transfer is unsuccessful

If unsuccessful, it could be because:
- You entered an invalid account number or sort code for your recipient
- You didn't have the necessary funds in your account
- You didn't have internet connectivity.
If your payment was unsuccessful for any of these reasons, you can try correcting the issue and creating a new money transfer. If you still cannot make your transfer please contact us.

If you want to send the money at a future date, enter the date you want the payment to go in the 'payment date' field. If the date you chose is a weekend or a bank holiday, the payment won't be processed until the next business day.

Payment limits

To help protect you against fraud, we limit the amount you can pay in our mobile app and online banking. These limits mean that you can send:

Up to £19,999.99 per payment
Up to £19,999.99 in any 24-hour period – each payment you make contributes towards this payment limit for 24 hours.

Here’s how you can make payments, depending on how much money you want to send.

Making a payment up to £19,999.99 which won’t exceed the 24-hour limit

Each payment you make contributes towards this payment limit for 24 hours.

Payments between your own Co-operative Bank accounts or to your Co-operative Bank credit card are not included in the £19,999.99 24-hour limit.

You can do this in our mobile app and online banking.

Making a payment over £19,999.99 and up to £100,000, or making a payment which would exceed the 24-hour limit

You need to do this by calling us on 03457 212 212. Lines are open Monday to Friday, 8am to 6pm, and Saturday and Sunday, 9am to 5pm. Call charges apply.

If you prefer to send a CHAPS transfer, you can either:

Log into online banking, send us a secure message and state the payment details and which account you wish to make the payment from.
Call us on 03457 212 212. Lines are open Monday to Friday, 8am to 6pm, and Saturday and Sunday, 9am to 5pm. Call charges apply.
Visit your local branch.

CHAPS transfers cost £25 per payment.

Any payments over £100,000

You must send this as a CHAPS transfer.

To request one you can either:

Log into online banking, send us a secure message and state the payment details and which account you wish to make the payment from.
Call us on 03457 212 212. Lines are open Monday to Friday, 8am to 6pm, and Saturday and Sunday, 9am to 5pm. Call charges apply.
Visit your local branch.

CHAPS transfers cost £25 per payment.

Payment timescales

When transferring money to a different bank, or to another person's Co-operative Bank or smile account, the money is processed via the Faster Payment service and should normally reach the payee's account immediately.

But there are a few exceptions where it may take a little longer, including:

If your payment is subject to further checks.
When you transfer from your Co-operative Bank or smile account to any Co-operative Bank or smile credit card or charge card.
When you transfer to another Co-operative Bank or smile account when you include a reference — if you need to make an immediate payment, please leave the reference field blank.

Whilst we work on some improvements, you are currently unable to add a reference when paying another Co-operative Bank or smile account. The sort code of the account you are paying will start with ‘08’ or ‘83’ if this applies. If you need to add a reference to your payment, call us on 03457 212 212 (call charges apply). Lines are open 8am to 6pm Monday to Friday, 9am to 5pm Saturday and Sunday.

Allow 2 working days for credit cards payments to be processed

Please note - charges and interest will be payable if you miss your card payment due date in accordance with your terms and conditions. Interest will be charged on all transactions shown on your statement, calculated from the date each transaction was added to your account until full payment is made and credited to your account. This will happen even if you had paid your previous statement balance in full and on time. Read more about credit card charges.