Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • nilrem
    • By nilrem 18th Dec 17, 1:46 PM
    • 2,143Posts
    • 1,964Thanks
    nilrem
    Nat west debit card limit for NS&I!
    • #1
    • 18th Dec 17, 1:46 PM
    Nat west debit card limit for NS&I! 18th Dec 17 at 1:46 PM
    I have been trying to buy NS&I saving bonds, they insist on payment via debit card, I have tried 3 times to buy but each time Natwest declines payment. On contacting Natwest they tell me that their is a max limit of £2000 via debit card to financial institutions, they won't budge on this even if you give your permission.

    They told me the only way to do it is for multiple amount of £2000 but with say £50k you will have to set up 25 separate NS&I saving accounts!
    I have spoken to NS&I and they are going to send some forms out but it will take at least a week. Meanwhile the cash is sitting in a Natwest CA earning zero interest!

    Surely they ought to have a system where the customer could authorise them to pay more on a debit card?

    Update, spoken to Natwest again, apparently the lady I spoke to this morning gave me the wrong information the £2000 limit is only applied when attempting to use a debit card to pay off a credit card.
    Last edited by nilrem; 18-12-2017 at 11:22 PM. Reason: Updated post
Page 2
    • sausage_time
    • By sausage_time 19th Dec 17, 7:56 AM
    • 86 Posts
    • 20 Thanks
    sausage_time
    I had a £50k debit card transaction to NS&I from RBS declined. I moved the funds over to FD and that went through no problem.

    More info. My RBS card has a typo in my name, and I assumed that might be the problem. Typo? Really? Yes, the new card has already been reissued after the first typo, but came back with a different typo! I can only conclude that the name is entered manually instead of being picked up from account records. Previous cards have been OK. The name on the second is close enough for day to day usage, but given "the Bonds must be purchased using a personal debit card in the name of the proposed Bond holder" I concluded that this was the issue. Guess I should ask to have the card replaced again again again. But I wonder if the real issue the some arbitrary limit that NatWest/RBS impose?
    • nilrem
    • By nilrem 19th Dec 17, 9:37 AM
    • 2,143 Posts
    • 1,964 Thanks
    nilrem
    That isn't the information on their website which suggest a payment of £10,000 is possible.
    https://supportcentre.natwest.com/Searchable/913250422/Why-has-my-debit-card-payment-to-my-credit-card-failed.htm
    Obviously NatWest staff sing from a different hymn sheet! In the morning I was told of the £2000 limit using a debit card to pay financial institutions. In the evening I was told that limit only applied when using the card to pay off a credit card debt. But as AirlieBird points out NatWests site suggests £10,000.

    Given that the first person I spoke to had not heard of National savings and Investments I am not surprised.
    • Heng Leng
    • By Heng Leng 19th Dec 17, 12:50 PM
    • 4,310 Posts
    • 1,324 Thanks
    Heng Leng
    Can't you top up via Faster Payment or an old fashioned cheque?
    • nilrem
    • By nilrem 19th Dec 17, 1:52 PM
    • 2,143 Posts
    • 1,964 Thanks
    nilrem
    Can't you top up via Faster Payment or an old fashioned cheque?
    Originally posted by Heng Leng
    As I mentioned earlier You cannot add to the bonds or open then add, you have to buy and pay, any additional amounts mean a new bond. They also demand payment via Debit card, however they did say that in exceptional circumstances they will send a form and you can send a cheque but it can take 2 weeks.
    • Tom99
    • By Tom99 20th Dec 17, 4:00 AM
    • 976 Posts
    • 599 Thanks
    Tom99
    NS&I also have a debit card limit of £99,999.99 even though the account limit is £1m
    • Lomcevak
    • By Lomcevak 20th Dec 17, 7:17 AM
    • 674 Posts
    • 4,063 Thanks
    Lomcevak
    Obviously NatWest staff sing from a different hymn sheet! In the morning I was told of the £2000 limit using a debit card to pay financial institutions. In the evening I was told that limit only applied when using the card to pay off a credit card debt. But as AirlieBird points out NatWests site suggests £10,000.
    Originally posted by nilrem
    Minutes ago I successfully made a debit card payment to my Amex cashback credit card of nearly £4k (I paid for a course, work just paid me back), so what you are being told about a £2000 limit is definitely wrong
    MFiT-T4#126, £135k to 60k: £48,207/£75,000(64.29%), 2017 MFW#11 £600/£12,000 (5.00%)
    £30k-in-’18#11 £2,207.78/£30,000 (6.13%)
    • Tom99
    • By Tom99 21st Dec 17, 4:58 AM
    • 976 Posts
    • 599 Thanks
    Tom99
    A bank might give you a temporary increase in the debit card daily limit if you contact them over the phone.
    I am with Halifax and that worked for me when the debit to NS&I failed and I rang the fraud number given when the payment failed. The temporary increase lasted 1 hour.
    • nilrem
    • By nilrem 21st Dec 17, 1:37 PM
    • 2,143 Posts
    • 1,964 Thanks
    nilrem
    A bank might give you a temporary increase in the debit card daily limit if you contact them over the phone.
    I am with Halifax and that worked for me when the debit to NS&I failed and I rang the fraud number given when the payment failed. The temporary increase lasted 1 hour.
    Originally posted by Tom99
    I was told that it wasn't possible to do this, although considering the wrong info I was given initially who knows?
    • Tom99
    • By Tom99 21st Dec 17, 1:53 PM
    • 976 Posts
    • 599 Thanks
    Tom99
    I was told that it wasn't possible to do this, although considering the wrong info I was given initially who knows?
    Originally posted by nilrem
    It worked for me yesterday and a friend of mine did the same with Halifax today who gave a temporary increase in the debit card limit to £100k.
    • capital0ne
    • By capital0ne 21st Dec 17, 3:07 PM
    • 257 Posts
    • 126 Thanks
    capital0ne
    I have no trouble using my NatWest DEBIT CARD to fund my share dealing account with £3k on a regular basis.

    Make sure you are using your debit card and it has been registered to be verified by Visa Debit.

    Are you using a new card?
    • nilrem
    • By nilrem 21st Dec 17, 7:59 PM
    • 2,143 Posts
    • 1,964 Thanks
    nilrem
    I have no trouble using my NatWest DEBIT CARD to fund my share dealing account with £3k on a regular basis.
    Make sure you are using your debit card and it has been registered to be verified by Visa Debit.
    Are you using a new card?
    Originally posted by capital0ne
    Thanks for your reply, forgive me if I am wrong but did you read my update? Paying £3k per day via a Natwest debit card is not a problem, I was given wrong info by a Natwest employee on their helpline, I was later told to try up to £20K which did go through ok but they also said I could not give them prior notice to transfer larger amounts.

    FWIW i have had the card for many years and it is verified.
    • capital0ne
    • By capital0ne 26th Dec 17, 3:52 PM
    • 257 Posts
    • 126 Thanks
    capital0ne
    Thanks for your reply, forgive me if I am wrong but did you read my update? Paying £3k per day via a Natwest debit card is not a problem, I was given wrong info by a Natwest employee on their helpline, I was later told to try up to £20K which did go through ok but they also said I could not give them prior notice to transfer larger amounts.

    FWIW i have had the card for many years and it is verified.
    Originally posted by nilrem
    Yes I did read your post, I was just emphasizing it for those that may not have read it.
    A few years ago I was advised by a car dealer to use my debit card when paying.
    I did and £9k went through without a problem again on a Natwest Debit card.

    Many years ago I move house sale proceeds to NS&I using my debit card, £50k I think it was using mine and my wife did the same, again no issues.

    You have to realise most bank staff are clueless about finance bar counting notes and receivieng cheques and cash. I have witnessed crass stupidity while in a bank when an elderly person asked about getting better rate on her cash ISA with that bank. The advice given was to close her cash ISA account, withdraw the proceeds and pay it into the new ISA. I don't know what the amounts were but this was so wrong I almost intervened, but didn't for obvious reasons.
    • nilrem
    • By nilrem 8th Jan 18, 2:09 PM
    • 2,143 Posts
    • 1,964 Thanks
    nilrem
    Thumbs up for Natwest
    I started a thread on the 18th Dec re using a debit card to buy NS&I bonds, the thread is here
    http://forums.moneysavingexpert.com/showthread.php?t=5761402#topofpage

    Thanks to all the people who replied all very useful and I was advised to make a complaint to Natwest re being given the wrong information by them.

    Well I did make an official complaint and though it would be unfair to them for me to give details I can say that they handled my complaint in a friendly and very fair manner and rectified the complaint to my complete satisfaction. It has restored my faith in them fully.

    Thank you Natwest and thanks to the people here who offered advice.
    • nilrem
    • By nilrem 8th Jan 18, 2:16 PM
    • 2,143 Posts
    • 1,964 Thanks
    nilrem
    Well it's all sorted now but no thanks to Royal Mail who lost my cheque and application.

    Basically NS&I sent me a form and I posted a cheque and the form back to them (before Christmas) by the 12th Jan nothing had happened so NS&I told me to cancel the cheque and start again. So thanks Royal mail you caused me a lot of hassle! How the heck do they lose a reported 400,000 letters a day? What happens to them?
    • Westie983
    • By Westie983 8th Jan 18, 2:37 PM
    • 3,883 Posts
    • 14,387 Thanks
    Westie983
    Well it's all sorted now but no thanks to Royal Mail who lost my cheque and application.

    Basically NS&I sent me a form and I posted a cheque and the form back to them (before Christmas) by the 12th Jan nothing had happened so NS&I told me to cancel the cheque and start again. So thanks Royal mail you caused me a lot of hassle! How the heck do they lose a reported 400,000 letters a day? What happens to them?
    Originally posted by nilrem
    Probably in a lazy postman/womans home?
    Save 12k in 2018 #10 Total (£25,000)+£0.00/£12,000 = 0.0%
    Sealed Pot Challenge ~ 11 #97 Total (£410) + £0.00/£800 = 0.00% ( x 11)
    Xmas 2018 £1 a Day #2 Total £0.00/£365 = 0.0%
    Virtual Sealed Pot #1 Total £150.00/£1,000 = 15.00%
    £2 Savers Club 2018 #16 Total (£1,500)+-490/£2,000 = 50.50%

    Total £150.00/£16,165 = 0.92%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • nilrem
    • By nilrem 8th Jan 18, 8:08 PM
    • 2,143 Posts
    • 1,964 Thanks
    nilrem
    Probably in a lazy postman/woman's home?
    Originally posted by Westie983
    You might well be right. Some years ago out in the countryside I had to make a call of nature and behind the hedge I found a huge stack of mail, I took it to a local post office and it turned out the post person involved had been dumping mail in various places other than where it belonged!
    • nilrem
    • By nilrem 9th Jan 18, 1:52 PM
    • 2,143 Posts
    • 1,964 Thanks
    nilrem
    Lol, This one seems to go on and on!

    Just checked my NS&I account which now shows I have twice what I should have, it seems the cheque finally arrived and they added the investment to my account. The cheque will bounce as NS&I told me to cancel it so presumably they will subtract the amount from my account when it does.

    I phoned NS&I about it but they didn't seem concerned just said it often happens and just let it ride through the system.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

337Posts Today

2,319Users online

Martin's Twitter