“Huffing and Puffing” at transfer limit and cost of getting at you own money!

Cameron

D1zzy wrote: »

There is no limit on transfers from their Web saver accounts - so open one and move your money into there (internal transfers) before you do your BACS out:
From Halifax:-
In response to your query, I can confirm that an unlimited amount of funds can be transferred out of a Web Saver account through our Online Service. This is regardless of which organisation the destination account is held with.

All other Bank and Savings accounts held on our Online Service are limited as to the amount of funds that can be sent per transaction.

If a funds transfer is sent to another account with ourselves then each transaction can contain a maximum of £20 000, however more than one payment can be made to the same internal account per day.

The majority of internal payments are sent and received immediately, and once the funds have been received in the destination account then another payment of up to £20 000 then be made.

If a funds transfer is being made to an account with another organisation then up to £15 000 can be made per individual payment, however please be aware that only one payment can be made to an external mandate per day.

The Faster Payments System will currently not accept transfers higher than £1000, if you are looking to send a higher amount than this please be aware it will go through the normal BACS route which will take 3-4 working days.

On accounts with withdrawal limitations, Internal transfers will count as a withdrawal. If money leaves the account, regardless of its destination, then this is a withdrawal.

Thank you very much!

Looked Good!
digested!
tasted good -
will look at a Halifax web saver account.
lets hope it stays down.
one thing for certain though where a bank is involved its guaranteed to turn into $#!£

:cheesy:


Cameron

Cameron

noh wrote: »

No its a security measure.
It is there to reduce the damage to your account by someone with unauthourised access. It generally applies to online transactions only.

Sorry to be argumentative but I would argue against this as well!

If it was a security measure then it would also apply to CHAPS and they wouldnt let me do it on the phone using my 20000 bits of security information.

Its a money spinner! - think of all the money and delayed days multiplied number of users added to the the people who forget to transfer the money each day

Best Regards

noh

Cameron wrote: »

Sorry to be argumentative but I would argue against this as well!

If it was a security measure then it would also apply to CHAPS and they wouldnt let me do it on the phone using my 20000 bits of security information.

Its a money spinner! - think of all the money and delayed days multiplied number of users added to the the people who forget to transfer the money each day

Best Regards

You can not make a CHAPS payment online.

In order to make one you need to telephone and provide more security information than you do when making an online transaction.

Also with most Banks you need to fill in a form. I don't know if this is the case with Halifax.

Cameron

noh wrote: »

You can not make a CHAPS payment online.

In order to make one you need to telephone and provide more security information than you do when making an online transaction.

Also with most Banks you need to fill in a form. I don't know if this is the case with Halifax.

Yes but you can also phone up to arrange for a BACS give the same "more security information" and still only transfer £15k per day

A money spinner! I say! A money spinner!

Kind regards

Cameron

Milarky

Cameron wrote: »

Any other ideas please?

Anyone know of a better bank?


:mad:

You should be able to deposit into an Egg savings account - instantly - by repeated debit card deposits the same day. The individual payment limit is £10,000 I believe but there is no limit on the number of such deposits. Just have all the cash in your current accoun before you start.

This means no loss of interest initially. An Egg account can be paying 2.5% if opened now. To move the monies on, first allow two working days for the initial deposit to clear 'in' the account then allow two working days to forward to any payee destination you wish.

Cameron

Milarky wrote: »

an Egg savings account - instantly - by repeated debit card deposits the same day. The individual payment limit is £10,000 I believe but there is no limit on the number of such deposits.

Cheers - thats how it was with Halifax - they have moved the goal post, I suppose theirs no supprise their, being a bank!