Online Banking - Transfer limits (to other banks)

F_T_Buyer

Hi everyone!

I currently use Barclays as my current account, and I've been increasingly annoyed by the £1,000 daily transfer limit as I need to regularly transfer large amounts of cash. Bascially i'm moving money into investments, and get a price break (discount) if I buy above a certain amount.

I now have to ring telephone banking to do a £4k transfer one evening, a £1k online transfer that evening, then first thing next morning do the same again, meaning I can only transfer £10k in a working day which is pants for me.

I can't go into the branch as I have to work 9-5.


Right, here's the two questions.

1. Can I set up a one off standing order to go out the next day, if so what's the limit? I have other standing orders going out which are over £1k.

2. Are there any other current accounts that don't have pathetic limits? Halifax also have a £1k limit.


I don't particularly like telephone banking as they can't answer my questions (they could answer question 1 above) - they act like vicky pollard. They also get my references on payments wrong (despite being very very specific and getting them to read it back to me), so my money isn't allocated to my account at the receiving end. To top it off Barclays have got the reference wrong twice now. They are total muppets.

:money:

YorkshireBoy

F_T_Buyer wrote:

2. Are there any other current accounts that don't have pathetic limits? Halifax also have a £1k limit.

Yorkshire Bank's internet banking has a £5K limit, but depending on how they categorise the recipient you can send multiple £5K payments to the same recipient on the same day. The T&C's are here.

jonesMUFCforever

Could you not buy using a debit card?

Mikeyorks

F_T_Buyer wrote:

1. Can I set up a one off standing order to go out the next day, if so what's the limit? I have other standing orders going out which are over £1k.

2. Are there any other current accounts that don't have pathetic limits? Halifax also have a £1k limit.

The Halifax limitation you quote has never affected me and I regularly pay out more than £1k to other Bank accounts.

But (your point 1) I do set these up as either SOs or 'bill payments'. But that's simply convenience as opposed to negotiating around a limit I was unaware of. The only oddity I have noticed is that I'm sometimes asked (the bill payment) to re-enter my password and a variable security question during the transaction - but the initiating value to that is a bit inconsistent. Otherwise - no problems.

Have used my Debit Card for transactions above £20k - but that was at the recipients request. Is that an option?

F_T_Buyer

Correction. Barclays Telephone Banking transfer limit is £5k, not £4k.

Still sucks tho.

miaxmia

Mikeyorks wrote:

The Halifax limitation you quote has never affected me and I regularly pay out more than £1k to other Bank accounts.

Ditto. But, like you, these are set up as bill payments or standing orders.

ioscorpio

The 10k limit is to do with money laundering

M_Thomson

I have never had a 1K limit imposed by Halifax. Where did you see this?