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  • FIRST POST
    • Suzey
    • By Suzey 31st May 09, 11:54 PM
    • 2,391Posts
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    Suzey
    Lloyds Internet banking - maximum daily transfer?
    • #1
    • 31st May 09, 11:54 PM
    Lloyds Internet banking - maximum daily transfer? 31st May 09 at 11:54 PM
    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
    Mortgage-free Wannabe!
    Borrowed £260000 in 8/2009
    Amount outstanding at 1/10/2012 is £10000/3.8%

Page 1
    • D1zzy
    • By D1zzy 1st Jun 09, 12:25 AM
    • 1,482 Posts
    • 628 Thanks
    D1zzy
    • #2
    • 1st Jun 09, 12:25 AM
    • #2
    • 1st Jun 09, 12:25 AM
    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
    Last edited by D1zzy; 01-06-2009 at 12:30 AM.
  • nicko33
    • #3
    • 1st Jun 09, 11:36 AM
    • #3
    • 1st Jun 09, 11:36 AM
    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
    • By D1zzy 1st Jun 09, 2:35 PM
    • 1,482 Posts
    • 628 Thanks
    D1zzy
    • #4
    • 1st Jun 09, 2:35 PM
    • #4
    • 1st Jun 09, 2:35 PM
    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
    • By isofa 1st Jun 09, 2:50 PM
    • 5,959 Posts
    • 3,001 Thanks
    isofa
    • #5
    • 1st Jun 09, 2:50 PM
    • #5
    • 1st Jun 09, 2:50 PM
    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
    Originally posted by D1zzy
    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
    • By D1zzy 1st Jun 09, 3:18 PM
    • 1,482 Posts
    • 628 Thanks
    D1zzy
    • #6
    • 1st Jun 09, 3:18 PM
    • #6
    • 1st Jun 09, 3:18 PM
    See what happened to me and nicko33 when we asked in brach for a BACS transfer - they said they could only do CHAPS!
    • isofa
    • By isofa 1st Jun 09, 3:21 PM
    • 5,959 Posts
    • 3,001 Thanks
    isofa
    • #7
    • 1st Jun 09, 3:21 PM
    • #7
    • 1st Jun 09, 3:21 PM
    See what happened to me and nicko33 when we asked in brach for a BACS transfer - they said they could only do CHAPS!
    Originally posted by D1zzy
    That's crazy, ask to see the manager.
  • withnell
    • #8
    • 1st Jun 09, 3:42 PM
    • #8
    • 1st Jun 09, 3:42 PM
    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
    • By D1zzy 1st Jun 09, 4:13 PM
    • 1,482 Posts
    • 628 Thanks
    D1zzy
    • #9
    • 1st Jun 09, 4:13 PM
    • #9
    • 1st Jun 09, 4:13 PM
    '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.
    Last edited by D1zzy; 01-06-2009 at 4:16 PM.
    • D1zzy
    • By D1zzy 1st Jun 09, 4:14 PM
    • 1,482 Posts
    • 628 Thanks
    D1zzy
    That's crazy, ask to see the manager.
    Originally posted by isofa
    - It was the manager I asked....
    • Swipe
    • By Swipe 1st Jun 09, 8:39 PM
    • 2,152 Posts
    • 1,144 Thanks
    Swipe
    How about bankers draft? Half the price of chaps.
    • Suzey
    • By Suzey 5th Jul 09, 9:35 PM
    • 2,391 Posts
    • 1,168 Thanks
    Suzey
    In case anyone was wondering...

    I rang Lloyds, spoke to three different people and got three different answers (no surprise there then). The last person I spoke to was a "manager" and said the branch could do it no probs. Hmmm...

    Went into the branch (yesterday) who said the only option was a CHAPS payment, nice little earner for them. They wouldn't BACS it into my Halifax account (typical "computer says 'no'" scenario). The most they would do was put it into my Lloyds current account and suggested I write a cheque to myself and deposit the money into my Halifax account that way. Not my ideal solution (in case for some reason the cheque didn't clear - also, it's difficult for me to get to a bank during the week).

    After much arguing (and summoning of two "managers") I managed to get a free bankers draft out of them. I'll need to take some time off work this week to put it into my Halifax account.

    Suze
    Mortgage-free Wannabe!
    Borrowed £260000 in 8/2009
    Amount outstanding at 1/10/2012 is £10000/3.8%

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