How to do a bank transfer??

Brian2011

Hi, I need to pay someone by bank transfer from one bank to another within Ireland only, so am I correct in saying that all I need to get from the person is:

**The person's Name / Account Name**
**The person's bank address**
**The person's bank sort code**
**BIC (Bank Identifier code) or swift code**

and that I do not need to get their actual 8 digit bank account number?? and is it the same for receiving money from a bank transfer??

Its just the BIC code that I need to give them, Correct??

And for international transfers, same as above, except IBAN code instead of BIC code, Correct??

Thanks alot.

Pablo Sanchez

Are you transferring online, or in a branch?

All you need is the account number and sort code. You can use the person's name as the Payee reference.

Once SEPA is up and running we will all have just IBAN numbers rather than account numbers and sort codes.

28064212

No, the BIC and sort code are essentially the same thing, they only identify the bank. You must have their account number

Nervous Wreck

^^ This.

All you need is Sort Code and Account Number.

Brian2011

But I remember before doing an international bank transfer to a guy in spain and all I gave him was:

BIC number
IBAN number
MY Name

and it worked??

Brian2011

Plus I don't like the idea of giving my account number and sort code out to a stranger.

What is there to actually stop them from emptying your account when they have your bank number and sort code, which is all they need??

Pablo Sanchez

Brian2011 wrote: »

But I remember before doing an international bank transfer to a guy in spain and all I gave him was:

BIC number
IBAN number
MY Name

and it worked??

The IBAN is simply the country code, account number and sort code all together. You need the IBAN for international transfers, but not yet for domestic ones.

Pablo Sanchez

Brian2011 wrote: »

Plus I don't like the idea of giving my account number and sort code out to a stranger.

What is there to actually stop them from emptying your account when they have your bank number and sort code, which is all they need??

Dont then, use pay pal. If you give someone your IBAN they have all the same info anyway.

Brian2011

Ok one more thing, in relation to a bank draft what details does one need for that, is it the same

Person's name
Account number
Sort code

and thats it??

Pablo Sanchez

Brian2011 wrote: »

Ok one more thing, in relation to a bank draft what details does one need for that, is it the same

Person's name
Account number
Sort code

and thats it??

AFAIK all you need on a draft is the persons name. Its the same as writing a personal cheque, except its a cheque drawn on the bank's 'account', and therefore safe to accept. No account details are required.

Brian2011

Pablo Sanchez wrote: »

AFAIK all you need on a draft is the persons name. Its the same as writing a personal cheque, except its a cheque drawn on the bank's 'account', and therefore safe to accept. No account details are required.

Thanks Pablo, I have not got a clue about banking, probably because I have no interest whatsoever in it , but these things are very handy to know so thanks very much!!

Nervous Wreck

Brian2011 wrote: »

Plus I don't like the idea of giving my account number and sort code out to a stranger.

What is there to actually stop them from emptying your account when they have your bank number and sort code, which is all they need??

The only thing someone can do with your sort code and account number is deposit money into your account.