What is a money transfer?

Money transfers are the quickest way to transfer money between your accounts, or to make a one-off transfer to another UK bank account.

You can transfer money:

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

What you'll need

To transfer money between your own Co-operative Bank accounts or to someone you've paid before, all you'll need to know is:

  • The amount you want to transfer
  • The date you wish to transfer it, if it's not an immediate payment.

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

  • The payee’s account number and sort code
  • The name of the payee
  • The amount you wish to transfer
  • The date you wish to transfer it, if it's not an immediate payment.

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 choose is a weekend or bank holiday, the payment won't be processed until the next working day.

To confirm the money transfer, log out of your account and then log back in. This refreshes your account and you'll see the transfer in your account balance and transaction list.

Creating 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.

Creating a money transfer in the mobile app

Log into the mobile app, select the account you want to create the money transfer from, and:

  • Select 'payments and transfers'
  • Select the type of transfer you want to make
  • Complete the information required in each box
  • Select 'review payment' and check all details are correct
  • Finally, select 'confirm transfer' to complete your money transfer.

Payment limits

There are different ways to make payments, depending on how much money you want to send.

Single payments up to £19,999.99

Payments up to this value can be made through our mobile app, or online banking.

Single payment over £19,999.99, and up to £100,000

Please call us on 03457 212 212 to request this type of payment. Lines are open 8am to 6pm Monday to Friday, 9am to 5pm Saturday and Sunday. Call charges

Any payments over £100,000

Any payments over £100,000 will be sent as a CHAPS transfer. To request a CHAPS, please log in to online banking and send us a secure message, referencing the account you wish to make the CHAPS payment from.


When transferring money, the payment is usually immediate — but there are few exceptions where it may take a little bit longer, including when you transfer money:

  • From your Co-operative Bank or smile account to your Co-operative Bank or smile credit card or charge card
  • From your Co-operative Bank or smile account to another person’s Co-operative Bank or smile credit card or charge card
  • To another Co-operative Bank or smile account when you include a reference — for immediate payment, please leave the reference field blank.

    Please allow 2 business days for any credit card 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.

    If you transfer funds to a different bank, or to a different recipient, these are processed via the Faster Payments service and should normally reach the payee's account immediately.

    Unsuccessful money transfers

    There are a number of reasons why a money transfer may be unsuccessful. This might be because you:

    • Have entered an invalid account number for your recipient
    • Have entered an invalid sort code for your recipient
    • Do not have the necessary funds to make the transfer
    • May have lost connectivity to online banking or the mobile app.

    If you've checked all these possible reasons and still cannot make your transfer, please contact us.

    Related pages

    How to remove a payee
    Information about CHAPS

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