Switching accounts - loss in interest

Squibbler

talexuser wrote: »

I'm with the Halifax and when I needed to send money through the current account (which had a 15K online transfer limit) just opened multiple online transfer accounts with the same codes and sent 15k through each on the same day to avoid chaps charges, so check if you can do this.

What a great idea! I'm amazed they let you but well done!

I do have a second barc account, I could try that in the future!

noh

According to this:-
http://www.ukpayments.org.uk/faster_payments_service/value_limits/

Barclays send standing orders by faster payment. Their value limit is £100000 for this method.
You could set up a single payment SO. That way you should be able to send up to £100K with only the 1 day delay to set up the SO.

Squibbler

I like that idea Noh!

Well I had to move just over 10k yesterday from our joint account in Barclays to my Bsoc (getting ready for our ISA payments in Apl)...did the 10K, then transferred the extra 680 to an unused second current account I have with Barclays but it still wouldn't let me move it out. However, it did make me wonder whether the 10K on a joint account is per person and if my husband had logged on to the joint account where the 10k had come from, would he be able to move the further £680?

It's an interesting thought that if we both made payments through single accounts we could definitely do this, but if one of use made the payment through the joint, it would probably disallow the second payment from both single accounts!

psychic_teabag

I don't know about Barclays, but NatWest also has a 10k daily limit. We have found (through the forum) that if either holder makes a payment directly from a joint account, that counts towards both transfer limits. However, doing an internal trransfer from joint account to a sole account and then making the payment from there means we can each pay out the full £10k. Maybe Barclays is the same.