Increase cash limit on Debit Card

alien123

Hi everyone, I am new to the site and has been viewing for some time. Just had the gut to join as a member and first post a question in here. Hope you guys can help.

I am with HSBC for 10 years. However, sometimes I need to get more than 300 pounds cash from time to time but the limit to withdraw per 24 hours is 300 pounds.

I have rang them to ask whether I can increase the limit. They said I am not qualify. Do you guys know what they based on? Credit ratings?

Thank you in advance

Shiny.Side.Up

Why don't you just get the money over the counter?

never-in-doubt

alien123 wrote: »

Hi everyone, I am new to the site and has been viewing for some time. Just had the gut to join as a member and first post a question in here. Hope you guys can help.

I am with HSBC for 10 years. However, sometimes I need to get more than 300 pounds cash from time to time but the limit to withdraw per 24 hours is 300 pounds.

I have rang them to ask whether I can increase the limit. They said I am not qualify. Do you guys know what they based on? Credit ratings?

Thank you in advance

I done this and rung after about 1 month of banking with them and my daily limit is currently £500. Its more to do with risk. If you regularly need it then best advice is to open a second account with hsbc and then you transfer £250 into both and withdraw from both accounts. I dont need to do this now, as my daily limit is now £500 as I said.

never-in-doubt

Shiny.Side.Up wrote: »

Why don't you just get the money over the counter?

you need a cheque to withdraw over counter at hsbc - not really convenient, also what if it is out-of-hours?

alien123

I completly agree. I normally withdrawn the money after work (after 6.30), which is quite a headache. What questions they went through? just wondering how I shall answer. May be HSBC does not like to take risk at all

inmypocketnottheirs

Or alternatively you could do cashback transactions upto the amount of available funds. The only problem is cashback is limited to £50 per transaction, but you can do unlimited transactions.

withnell

inmypocketnottheirs wrote: »

Or alternatively you could do cashback transactions upto the amount of available funds. The only problem is cashback is limited to £50 per transaction, but you can do unlimited transactions.

This would involve having to queue at the supermarket four times to get the £200 required. Easiest method is as suggested earlier to open a second current account to double your withdrawal limit

CLAPTON

alternatively if you need to regularly withdraw over 300
then
-better planning
-keep a cash float at home?

alien123

Thank you for everyone's suggestions. If I open another bank account, will it affect my credit ratings? Because ideally I would like to buy an apartment very soon

normanmark

never-in-doubt wrote: »

you need a cheque to withdraw over counter at hsbc - not really convenient, also what if it is out-of-hours?

No you don't. I've been in to HSBC many times with just my debit card and i've withdrawn over the counter.

CannyJock

alien123 wrote: »

Thank you for everyone's suggestions. If I open another bank account, will it affect my credit ratings? Because ideally I would like to buy an apartment very soon

Bank accounts don't negatively affect your credit rating unless you've got a massive overdraft limit. And even then, negligible effect IME.