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Transferring £20k in one lump
Nine_Lives
Posts: 3,031 Forumite
I have around £20k in a Derbyshire Savings account. The rate is set to drop to 1.00% on 1st Feb.
I was looking to transfer the whole whack out on 1st Feb, but i remember my uncle telling me when he was wanting to transfer money (25k), he had to do 2x10k & 1x5k over the course of 3 days as there was a 10k limit. This wasn't with the Derbyshire, but his bank account i think.
Just wondered if i'd be able to transfer 20k out on the 1st in 1 lump or whether this was impossible?
I was looking to transfer the whole whack out on 1st Feb, but i remember my uncle telling me when he was wanting to transfer money (25k), he had to do 2x10k & 1x5k over the course of 3 days as there was a 10k limit. This wasn't with the Derbyshire, but his bank account i think.
Just wondered if i'd be able to transfer 20k out on the 1st in 1 lump or whether this was impossible?
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Comments
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If it's a Derbyshire Netsaver you'll be able to transfer all of it in one go.0
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Alternative is to close the account, then closing balance plus interest-to-date will be paid out.0
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I'm also transferring a large sum out of my NetSaver 2 at the end of this month, so I went to their website, read their NetSaver FAQ section, and found...20. What is the maximum amount I can withdraw on my account?
The maximum amount you can withdraw is £100,000 per day.0 -
That might be a theoretical limit, but in practice there is probably a lower limit somewhere to make sure its really you making the transaction.
Last house I bought I put down a 50% deposit and had to go into the branch to prove it was really me making the transfer.IANAL etc.0 -
They know it's "really you making the transaction" because they only pay out to the nominated account that you linked to it when you opened the NetSaver 2.That might be a theoretical limit, but in practice there is probably a lower limit somewhere to make sure its really you making the transaction.
That's why they've a relatively high limit for withdrawals.
The savings accounts with £10K withdrawal limits are generally those which will pay out to multiple accounts.0 -
A quick 'heads up' to Barclays customers, if you have a Platinum Account they waive the £25 CHAPS fee
It's no longer available but if you have one it could save you a bob or two0 -
Ive had a bank turn down a 3k transfer just in case it was fraud. If you wrote to say beforehand, theres no excuse0
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