Lloyds TSB £15,000 faster payments

Consumerist

Just logged-in to LloydsTSB internet banking and they are advertising a £15,000 daily limit on faster payments except to first-time payees. Don't know if this is a new limit but just a quick heads-up in case it is. It's about the highest non-corporate limit I know of.

zppp

http://www.ukpayments.org.uk/faster_payments_service/value_limits/

somethingcorporate

Thanks for that, I didn't realise it differed by institution. I will take a dim view over nationwide's £1000 limit when others are offering so much higher.

zppp

somethingcorporate wrote: »

Thanks for that, I didn't realise it differed by institution. I will take a dim view over nationwide's £1000 limit when others are offering so much higher.

One word: Santander!!!!

Consumerist

Thanks zpp. Didn't realise it was old news.

How long has the £15,000 limit been available from Lloyds? Was that the latest update on the link you posted (21 Feb 2011) or was it earlier than that?

zppp

Consumerist wrote: »

Thanks zpp. Didn't realsie it was old news.

How long has the £15,000 limit been available from Lloyds? Was that the latest update on the link you posted (21 Feb 2011) or was it earlier than that?

Not sure, but I would keep an eye on it. Rumours have it that most major banks will be increasing these limits over the next year. Some quite substantially.

rb10

zppp wrote: »

Rumours have it that most major banks will be increasing these limits over the next year. Some quite substantially.

All banks and building societies have to send all payments by the close of business the day after they are initiated (which effectively means FP or CHAPS) by the new year, under the Payment Services Directive.

Milarky

It's not a 'daily limit', everyone, just the limit for making a single payment via FPS.

The 'daily limit' at Lloyds remains £25,000. That said it is then only possible to do one £15K a day anyway (and then one of £10K)

jambosans

Just to add to the thread, LTSB have placed the limits on their website:-
http://www.lloydstsb.com/internet_banking/payments.asp

[Deleted User]

pretty good limit - highest ive seen
prob would see other banks increasing