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Lloyds Internet banking - maximum daily transfer?
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# 1
Suzey
Old 31-05-2009, 11:54 PM
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Default Lloyds Internet banking - maximum daily transfer?

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
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Borrowed 260000 in 8/2009
Amount outstanding at 1/10/2012 is 10000/3.8%

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# 2
D1zzy
Old 01-06-2009, 12:25 AM
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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 Halifax

Last edited by D1zzy; 01-06-2009 at 12:30 AM.
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# 3
nicko33
Old 01-06-2009, 11:36 AM
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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.
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# 4
D1zzy
Old 01-06-2009, 2:35 PM
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Quote:
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)
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# 5
isofa
Old 01-06-2009, 2:50 PM
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Quote:
Originally Posted by D1zzy View Post
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...
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# 6
D1zzy
Old 01-06-2009, 3:18 PM
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See what happened to me and nicko33 when we asked in brach for a BACS transfer - they said they could only do CHAPS!
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# 7
isofa
Old 01-06-2009, 3:21 PM
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Quote:
Originally Posted by D1zzy View Post
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.
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# 8
withnell
Old 01-06-2009, 3:42 PM
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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!
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# 9
D1zzy
Old 01-06-2009, 4:13 PM
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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.

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# 10
D1zzy
Old 01-06-2009, 4:14 PM
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Quote:
Originally Posted by isofa View Post
That's crazy, ask to see the manager.
- It was the manager I asked....
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# 11
Swipe
Old 01-06-2009, 8:39 PM
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How about bankers draft? Half the price of chaps.
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# 12
Suzey
Old 05-07-2009, 9:35 PM
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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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