Arrrrrgh!!.............Why do I bank with LTSB ?

oegb21

had the same problem was trying to invest 50k,ns&i advised me to contact lloyds and asked for a window to allow this transaction,lloyds dont do this then told me my limit was 10k a day,phoned ns&i again to be told this was now most banks attitude.decided to send cheque as i wasnt prepared to pay to have my money transfered,downloaded aplication form and sent off.no probs recieved certificate within five days.
just a footnote but having done quite a lot around e-savings this last couple of weeks i have found barnsley bs by far the simplest to put your money in with above ave return for 3 years 4.8%

Reaper

With First Direct I hit a similar limit when moving a large sum on a debit card. The lady on the phone said to get round it do a series of smaller transactions. Apparently I could do them all on the same day. I was dubious but tried it and it worked.

The question is - in what way is that more secure than letting me do it all in one go?

Rollinghome

Should be fun when Lloyds bring their idea of management to HBOS, especially after reducing staff levels.

D1zzy wrote: »

(I have an email from Halifax with ther various transfer limits from their accounts - have published it a couple of times but can do again if needed).

Yes please.

D1zzy

From Halifax online - account transfer limits
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. {note to those with maturing Websaver Rewards - it may be quicker to transfer out large amounts directly from your websaver by BACS rather than via FP from your current accounts}

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.

Rollinghome

D1zzy wrote: »

If a funds transfer is sent to another account with ourselves then each transaction can contain a maximum of £20 000,

Thanks Dizzy. Was that fairly recent? I was told last week, during third phone call, that the internal transfer limit was £50K - but then I was told a lot of strange things that day.

But wasn't told that:

however more than one payment can be made to the same internal account per day... once the funds have been received in the destination account then another payment of up to £20 000 then be made

I eventually made the transfers I needed using two CHAPS payments for which they agreed to waive the charges.

D1zzy

Rollinghome wrote: »

Thanks Dizzy. Was that fairly recent? I was told last week, during third phone call, that the internal transfer limit was £50K - but then I was told a lot of strange things that day.

6th November

ecosse48

I opened an NS&I one year bond today for £40k . I checked with my local LTSB if it would go through okay, they said there was no reason for it not to !!!!

Will keep u posted

MarkFromCornwall

D1zzy wrote: »

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.
...
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.

I wonder how multi-millionaires manage their money. I'm sure they don't sit around transferring it from one acccount to another in chunks of less than £20k. Anyone know?

noh

MarkFromMullion wrote: »

I wonder how multi-millionaires manage their money. I'm sure they don't sit around transferring it from one acccount to another in chunks of less than £20k. Anyone know?

They have someone to do it for them.
They probably don't use Halifax online banking either.

D1zzy

MarkFromMullion wrote: »

I wonder how multi-millionaires manage their money. I'm sure they don't sit around transferring it from one acccount to another in chunks of less than £20k. Anyone know?

Always wonder where they put it to keep under the 50K limit - or do they not bother about that either?