£10,000 transfer restriction

Mikeyorks

Kavanne wrote: »

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

As earlier post - it's £15k from a Halifax current a/c. But if they're both resident on your own Portfolio it's just an instant internal transfer (but still £15k out of the current a/c .... but you can just repeat it immediately)

(Obviously the £15k to an external account is not FP. You'd be lucky to get 15p out of Halifax that way!)

Kavanne

Hfax have been ok with FP but never used them for such a large sum.... when I had to make my transfers I swear it was 10000... it was a while ago though... I can't be bothered to dig out my statements... well 10k or 15k I had to make 4 transfers instead of one into my websaver

10_66

BarclaysManager wrote: »

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

Inadvertently thanked you (wish they were retractable!). Why do you assume I have tens of thousands of pounds? Unfortunately, I don't, but like Kavanne said, I don't want to waste £25 - £30 on a CHAPS transfer when the gain in moving it doesn't warrant it.

Why bother posting, when you're clearly annoyed with the query. Do us all a favour (including you) and don't bother!

gt94sss2

10_66 wrote: »

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

I believe First Direct has no limits on external transfers..

Regards
Sunil

10_66

gt94sss2 wrote: »

I believe First Direct has no limits on external transfers..

Regards
Sunil

Many thanks Sunil, unfortunatley, we don't have £1,500 per month to put into the account (despite what poster #8 thinks!).

Molotov

I wasn't aware that banks had a transaction limit.

Earlier this week I transferred over £10,000 from my Nationwide Flex account to ICICI through the ICICI website.
Will this transaction go ahead or not? And if not will they let me know that it has been refused?
I don't want to set up another transfer for less than £10,000 and then find that they both go through leaving me overdrawn at Nationwide.

Any suggestions? Thanks

KTF

The transaction limit is in place to stop someone logging in to your account and cleaning it out (assuming you have over 10k in the account).

The majority of people wont get near this limit but for the few that do it can be annoying but there are ways round it by popping in to the branch for example.

YorkshireBoy

Molotov wrote: »

Earlier this week I transferred over £10,000 from my Nationwide Flex account to ICICI through the ICICI website.

You're using a different method from the OP.

You're 'pulling' money via direct debit, whereas the OP is 'pushing' money via BACS.

Molotov

Does that mean the transaction will still go ahead?

YorkshireBoy

Molotov wrote: »

Does that mean the transaction will still go ahead?

When you use the DD pull method the transaction happens two days later (and is a simultaneous debit/credit on the source/destination accounts). For example, if you initiated the transaction on a Wednesday (morning?) the funds will move on a Friday.