Lloyds Internet banking - maximum daily transfer?

Suzey · 31 May 2009 at 11:54PM

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

D1zzy · 1 June 2009 at 12:25AM

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

nicko33 · 1 June 2009 at 11:36AM

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.

D1zzy · 1 June 2009 at 2:35PM

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.

Yep -forgot about that, but had exactly the same experience
(if you were with Natwest Suzey- you could do it online with FP in 4 days even with their 10K daily limit)

isofa · 1 June 2009 at 2:50PM

D1zzy wrote: »

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...

D1zzy · 1 June 2009 at 3:18PM

See what happened to me and nicko33 when we asked in brach for a BACS transfer - they said they could only do CHAPS!

isofa · 1 June 2009 at 3:21PM

D1zzy wrote: »

See what happened to me and nicko33 when we asked in brach for a BACS transfer - they said they could only do CHAPS!

That's crazy, ask to see the manager.

withnell · 1 June 2009 at 3:42PM

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!

D1zzy · 1 June 2009 at 4:13PM

'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.

D1zzy · 1 June 2009 at 4:14PM

isofa wrote: »

That's crazy, ask to see the manager.

- It was the manager I asked....

Swipe · 1 June 2009 at 8:39PM

How about bankers draft? Half the price of chaps.

Lloyds Internet banking - maximum daily transfer?

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