Lloyds Internet banking - maximum daily transfer?
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Suzey
Posts: 2,714 Ambassador
Hi all
I need to withdraw all my money (£40k) from my Lloyds ISA to use to buy a house. I want to BACS it to my Halifax current account, then do one CHAPS transaction from there. Can I do this using Internet banking (via my Lloyds current account if needs be) or is there a daily limit?
If the latter, what's the best way of doing this?
Suze
I need to withdraw all my money (£40k) from my Lloyds ISA to use to buy a house. I want to BACS it to my Halifax current account, then do one CHAPS transaction from there. Can I do this using Internet banking (via my Lloyds current account if needs be) or is there a daily limit?
If the latter, what's the best way of doing this?
Suze
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Comments
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Daily BACS limit £10,000
Transferring £40K on-line will take you about 2 weeks - because you cannot set up another £10K transfer until the day after the first has left your account, and then as you cannot set-up a same day transfer, it will actually be 2 days before the second transfer goes ( clear as mud?) ...and so on. No transfers at weekends and each 1 will take 3/4 days to arrive in your receiving account.
For £30ish you could also do a chaps xfer from LLoyds to Halifax0 -
I had similar hassles with Lloyds trying to do the same thing.
Over the phone they told me that if I went into a branch they could set up a one-off BACS for more than the phone/online limits, but when I got there the branch denied all knowledge.
I ended up with a CHAPS (edit: £30) due to the time lost messing around
If you have time to spare - write a cheque.0 -
Over the phone they told me that if I went into a branch they could set up a one-off BACS for more than the phone/online limits, but when I got there the branch denied all knowledge.
(if you were with Natwest Suzey- you could do it online with FP in 4 days even with their 10K daily limit)0 -
Daily BACS limit £10,000
Transferring £40K on-line will take you about 2 weeks - because you cannot set up another £10K transfer until the day after the first has left your account, and then as you cannot set-up a same day transfer, it will actually be 2 days before the second transfer goes ( clear as mud?) ...and so on. No transfers at weekends and each 1 will take 3/4 days to arrive in your receiving account.
For £30ish you could also do a chaps xfer from LLoyds to Halifax
It's unlikely to be the BACS limit, just the online banking limit (to protect from fraud / hackers etc). Why not go into your branch and ask for the amount to be BACS to the required account, and I doubt you'll have any problems. So that'll cost nothing and be free, or pay £20 to £30 for a CHAPS immediate movement.
Or if you have branch access to both, why not ask for a bankers draft from the LTSB account and pay into the Halifax, 4 days to clear...0 -
See what happened to me and nicko33 when we asked in brach for a BACS transfer - they said they could only do CHAPS!0
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Why not ring up phone banking and ask them to do a 10k Faster Payments transfer? Do that for 4 days, and you have the £40k transfered!0
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'cos they'll tell you you can only transfer £500 or maybe £200 (whatever - they won't tell you how much and aparently it varies from person to person)
....that was a couple of months ago, but maybe its changed now.0 -
How about bankers draft? Half the price of chaps.0
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