£10,000 transfer restriction

10_66

Does anyone know of a bank (other than Cahoot), that doesn't have the £10,000 restriction on transfers out of it into another organisation? Thanks.

10_66

Anyone?...

withabix

I don't think that any bank will let you do electronic transfers outside the bank itself for over £10k.

What's wrong with a cheque or a draft?

10_66

I'm thinking of instances of when you close an account with one organisation and the funds are transferred to linked account and then transferred from the linked account to another organisation. It's easier (and avoids the post) if you can process this via BACS rather than cheque.

YorkshireBoy

withabix wrote: »

I don't think that any bank will let you do electronic transfers outside the bank itself for over £10k.

Halifax is £15K.

withabix

10_66 wrote: »

I'm thinking of instances of when you close an account with one organisation and the funds are transferred to linked account and then transferred from the linked account to another organisation. It's easier (and avoids the post) if you can process this via BACS rather than cheque.

You will be able to do this in-branch, but not yourself via the internet or over the phone.

KTF

You might also be able to do it in 10k 'chunks'.

Extant

So you have tens of thousands of pounds? Stop being cheap and stump up for a CHAPS.

Kavanne

KTF wrote: »

You might also be able to do it in 10k 'chunks'.

I had to do this. 4 times. Between my own accounts. Both with halifax. Ridiculous!!!

BarclaysManager, not everyone who has money is keen to throw it away!

SWB

Sorry Kavanne but the banks can't win can they?
They set a 10k transfer limit to help secure members money and you are unhappy. If they opened up all the limits, others would complain they were not doing enough to safeguard their money.

Kavanne

I never complained when it let me transfer more than 10k....