Nat West £10000 daily transfer limit

Tarian

"Chap on the phone said that I could do more if I went to a branch.

But the branch said no - other than if it were done by a CHAPs payment."

That's exactly what happened to me.

I wanted to pay a single amount over £10k by phone.
They told me to go to a branch. Not fancying having to go through the same routine for the next few days I went to the branch.

They kept on about EITHER Faster Payments (with £10K limit) - OR a £25 CHAPS.
I tried telling them I didn't want FP but BACS.
(If I was paying £300,000 and earning 3% CHAPS might have been worth it.....)

Then some young manager told me "BACS is only for company payments - and has been for some time".

Curious - because that's not what variouc current users say.

YES - I want security - but NatWest seemed happy enough to receive the money in one larger amount from a Building Society - who of course were willing to pay in one amount.

Can anyone confirm whether BACS has been restricted recently?

Has anyone managed to get a NW branch to make a BACS payment for over £10K?

Thanks

mclaren32

Branches can either make faster payments, up to 10k or chaps for where a faster payment cannot be made or the payment is for more than 10k.

No way of of making Bacs payments.

Everybody

Strange that no one has mentioned about writing a cheque? There is no limit to the amount for that.

Degenerate

sc52 wrote: »

You may find the 10k limit more than enough - I don't.

The bottom line is that these are unusual transactions for a regular personal bank account, and if you need to make them on a frequent basis you may be better off seeking out an appropriate institution and account to do it with. That be be a business account, or an premium/private banking account with used to dealing with people with large lumps of cash.

Mikeyorks

Everybody wrote: »

Strange that no one has mentioned about writing a cheque? There is no limit to the amount for that.

9 months on ......... it would be out of date now!

andyt8

First Direct online banking now seems to have its online payment limit upped to £99,999 so banks vary greatly. Maybe CHAPS not FPS...