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    • Mayday
    • By Mayday 15th Jun 17, 7:45 AM
    • 550Posts
    • 280Thanks
    Mayday
    Tesco Bank - limit on amount of BACs Transfer?
    • #1
    • 15th Jun 17, 7:45 AM
    Tesco Bank - limit on amount of BACs Transfer? 15th Jun 17 at 7:45 AM
    Is there a limit on the amount that can be transferred via BACs from a Tesco c/a? The amount I'm thinking of is about 15K.

    Been looking at Tesco Bank's Help pages but can't find what I am looking for.

    Grateful for any advice/help. Thanks.
Page 1
    • isasmurf
    • By isasmurf 15th Jun 17, 8:17 AM
    • 1,718 Posts
    • 738 Thanks
    isasmurf
    • #2
    • 15th Jun 17, 8:17 AM
    • #2
    • 15th Jun 17, 8:17 AM
    You'll need to call them to transfer £15k. The online limit to external accounts is £10k
    • eskbanker
    • By eskbanker 15th Jun 17, 11:37 AM
    • 5,812 Posts
    • 5,701 Thanks
    eskbanker
    • #3
    • 15th Jun 17, 11:37 AM
    • #3
    • 15th Jun 17, 11:37 AM
    Been looking at Tesco Bank's Help pages but can't find what I am looking for.
    Originally posted by Mayday
    It's mentioned (albeit only in the comments) at https://yourcommunity.tescobank.com/t5/Current-Accounts/How-do-I-make-payments-from-my-current-account-online/ta-p/905:
    bmj100 March

    how much can be transferred at any one time?

    AshleighB March

    Hi @bmj100
    !
    You can transfer up to £10,000 online at one time
    • clivep
    • By clivep 15th Jun 17, 12:51 PM
    • 181 Posts
    • 66 Thanks
    clivep
    • #4
    • 15th Jun 17, 12:51 PM
    • #4
    • 15th Jun 17, 12:51 PM
    Page 9 of Tesco t'c & c's
    https://www.tescobank.com/assets/sections/current-accounts/pdf/tesco-current-accounts-terms-and-conditions.pdf?_=cachebuster18052017

    "Faster Payments using Online Banking or the mobile banking app - £10,000 per day.

    Telephone Banking - Up to your available balance limit".

    Not very good is it. Other banks I've used (Nationwide & Santander) also have a transaction limit but allow multiple transactions the same day.
    • agrinnall
    • By agrinnall 15th Jun 17, 1:08 PM
    • 18,543 Posts
    • 14,272 Thanks
    agrinnall
    • #5
    • 15th Jun 17, 1:08 PM
    • #5
    • 15th Jun 17, 1:08 PM
    First up (and as pointed out indirectly by other posters) except in limited circumstances retail banking customers have not been able to do BACS payments for over 5 year now, all payments will use the Faster Payments System (or CHAPS if you're willing to pay for it). A hard daily limit of £10K is pretty poor, so it looks like you have 3 options:

    Telephone banking
    Transfers over 2 days
    Payment by CHAPS (if Tesco offer it)
    • Mayday
    • By Mayday 15th Jun 17, 4:11 PM
    • 550 Posts
    • 280 Thanks
    Mayday
    • #6
    • 15th Jun 17, 4:11 PM
    • #6
    • 15th Jun 17, 4:11 PM
    First up (and as pointed out indirectly by other posters) except in limited circumstances retail banking customers have not been able to do BACS payments for over 5 year now, all payments will use the Faster Payments System (or CHAPS if you're willing to pay for it). A hard daily limit of £10K is pretty poor, so it looks like you have 3 options:

    Telephone banking
    Transfers over 2 days
    Payment by CHAPS (if Tesco offer it)
    Originally posted by agrinnall
    Apologies - by BACS I meant Faster Payments.

    Thanks for all your answers - looks like we will now be using payments from 2-3 bank accounts to make our payment.
    • datlex
    • By datlex 15th Jun 17, 7:28 PM
    • 1,413 Posts
    • 1,210 Thanks
    datlex
    • #7
    • 15th Jun 17, 7:28 PM
    • #7
    • 15th Jun 17, 7:28 PM
    Yes there is a limit I had issues transferring over £1000. However once I rang them it was fine.
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