Lloyds Vantage CA Faster Payments Limits

Bin_Boy

Hi guys,

I'm just wondering if anybody knows what the limits are for sending a Faster Payment from a LLoyds Vantage Current Account.

The Faster Payments Website says

One-off payments - Yes, phone and internet- Retail customers £10,000* (*Telephony limits available upon request.)
Standing Order - Yes - £1,000

I've just had a one-off payment of £2,000 which I was expecting to go as a faster payment be processed through BACS instead losing me 3-4 days interest.

On calling their telephone banking I was told they couldn't tell me the limit for security purposes as they couldn't be sure I was the account holder and I would have to go into my branch with photo ID. (This was despite having gone through all of the security checks and the person on the other end of the phone having offered to set up an additional payment from my account 2 seconds previously).

Any help will be greatly appreciated, as am currently losing a lot in interest through Lloyd's and Santander not processing payments through the correct route.

Cheers

samjef11_2

Bin_Boy wrote: »

Hi guys,

I'm just wondering if anybody knows what the limits are for sending a Faster Payment from a LLoyds Vantage Current Account.

The Faster Payments Website says

One-off payments - Yes, phone and internet- Retail customers £10,000* (*Telephony limits available upon request.)
Standing Order - Yes - £1,000

I've just had a one-off payment of £2,000 which I was expecting to go as a faster payment be processed through BACS instead losing me 3-4 days interest.

On calling their telephone banking I was told they couldn't tell me the limit for security purposes as they couldn't be sure I was the account holder and I would have to go into my branch with photo ID. (This was despite having gone through all of the security checks and the person on the other end of the phone having offered to set up an additional payment from my account 2 seconds previously).

Any help will be greatly appreciated, as am currently losing a lot in interest through Lloyd's and Santander not processing payments through the correct route.

Cheers

Was you paying via bank transfer or standing order?
Just re-read your post the limit should be £10,000 for any account wiith lloydstsb.

Bin_Boy

samjef11 wrote: »

Was you paying via bank transfer or standing order?
Just re-read your post the limit should be £10,000 for any account wiith lloydstsb.

Thanks for the reply.

It was a one off transfer. That's what I thought based on the info at ukpayments. But, according to the person on phone banking that's the maximum per day, not the maximum per transaction (which he refused to tell me). :rotfl: Usual high quality bank customer service.

iereboy

Why should the staff tell you their limits. They are there for a reason and for security.

Why should the staff member breach the rule and risk their job?

Do a bit of digging and you'll find the answer.

If you are unhappy with the service your bank provides, find another one!

samjef11_2

iereboy wrote: »

Why should the staff tell you their limits. They are there for a reason and for security.

Why should the staff member breach the rule and risk their job?

Do a bit of digging and you'll find the answer.

If you are unhappy with the service your bank provides, find another one!

Mind you even other banks won't even tell you the payment limits.

Bin_Boy

iereboy wrote: »

Why should the staff tell you their limits. They are there for a reason and for security.

Why should the staff member breach the rule and risk their job?

Do a bit of digging and you'll find the answer.

If you are unhappy with the service your bank provides, find another one!

I have no problem with the member of staff I dealt with. If those are banks rules then they are obviously required to stick to them and are just doing their job.


However, I do think banks should be able to provide basic information about their services to customers. In terms of security I can't see how advising a customer of the predicted timescales for payments of certain amounts is of any risk to security. Particularly, not once you've been through all of the relevant security checks and they're willing to set up a payment from your account then and there. On that assumption they should just scrub telephone banking altogether.

Are you able to advise of anywhere I should look? Have checked the obvious (faster payments thread on here, faster payments website and Lloyds website) with no luck.