UK Bank Transfer takes very long

I’ve just opened and activated a Monzo account, and have transferred a large sum from my HSBC account into my Monzo, but it has yet to arrive.
I transferred the money last night at 9pm ish, and HSBC said it would send first thing tomorrow as it was too late in the day to transfer, however the money has left my HSBC account this morning without arriving in my Monzo account.

Is this normal? Is there some step I’m missing in order to receive my money in Monzo, or is it simply a typical delay in UK bank transfers.

It’s normally instant for me hsbc to monzo.
However others on these forums have mentioned hsbc holding up the payments for additional checks if rather large.
Maybe you could ask either hsbc or the in app chat on monzo

Unfortunately this is quite common with large transfers from HSBC :pensive:

HSBC do a lot of additional checks on bank transfers before they actually send them, but to both you and the frontline customer service advisor, it’ll appear to have actually been sent.

We’ve seen delays of up to 18 hours on occasion, so you’ll likely see it within a few hours. It may be worth giving them a call if this doesn’t happen!

Edit: we have a handy help page about this too!


I’ve had this problem before with HSBC. I did a transfer around 7pm on evening and the funds weren’t transferred until the next morning around 10am

I had the same issue when I opened a HSBC account for the switch bonus. The fraud team actually called me to ask if I was being pressured into making the payment :flushed: as it was to a Monzo account. I don’t think there is anything you can do until the fraud team call to push it through.

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Thanks for all the replies :))
Looks like I’ll just hold out till it arrives, worst case scenario I’ll call them and see whats up.

I have found that the first bank transfer to a new account/payee takes a long time with HSBC. After that the transfers are instant. So I now avoid setting up new payees in HSBC and use an existing setup to transfer to a bank from which I can easily add new payees. If it weren’t for my needing Global transfers I wouldn’t touch HSBC with a bargepole personally.

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Another update, turns out HSBC have suspended my account temporarily so I have to enter a branch with photo ID to unlock my account.
Be warned about HSBC transfers to Monzo (or any new account I suppose), seems best to transfer several days before you’ll need the money as clearly the process takes a while.
Also make sure you have your telephone banking security set up as otherwise you’ll be helpless to solve the problem over the phone.

It’s like that for most high street banks regardless if you’re transferring to Monzo or another bank. Halifax froze my account when I tried moving a large amount of money to first direct. Luckily I just had to phone them and speak with them for 30mins rather than visit a branch.

It’s mostly a check to make sure you’re not potentially a victim of bank transfer fraud so be prepared for a lot of questions making sure you know why you are moving the money :smile:.

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My partner went into hsbc to make a large transfer to monzo and the staff said he could only do it via CHAPS as it was over £10K, it would cost £30, and as monzo are unreliable at receiving CHAPS it may fail and he would have to pay another £30 to try again and again!

He’s ended up having to sign up to mobile and online banking and then can apparently do £25K per day per recipient faster payment for free…but has to wait for a card reader device in the post.

All seems a bit antiquated and they really don’t seem to like Monzo as they specifically called it out as an issue!

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The HSBC app can act as a digital SecureKey - no need to have a physical one

Yeh apparently as he set it up years ago they need to post something out and can’t reset it on the phone or in branch even with ID