Bacs

YorkshireBoy

rockitup wrote: »

With every bank I have ever used the BACS limit is £10k

Tesco Bank did me a £50K BACS transfer over the phone last year.

I have heard that faster payments are normally limited to £1k at the moment

Not sure where you "heard" that. LTSB have a £25K FP limit. Almost all the 'big banks' have £10K FP limits...certainly HSBC and NatWest/RBS do.

Biggles

noh wrote: »

Faster payments limits currently vary between banks.
Lloyds have a £25000 limit. Santander £300.

Santander's new website is supposed to implement FPS more fully but I haven't yet seen whether this means their limit has increased.

rockitup

YorkshireBoy wrote: »

Tesco Bank did me a £50K BACS transfer over the phone last year.Not sure where you "heard" that. LTSB have a £25K FP limit. Almost all the 'big banks' have £10K FP limits...certainly HSBC and NatWest/RBS do.

I also did £160k BACS transfer online through Nationwide earlier this year but that was 16 individual transfers in the one log-on session.
I only use telephone banking with Citibank for doing CHAPS transfers when moving money around to Forex Brokers.
Must have been old news I heard some time ago about Faster Payments limits then, never actually used them yet, I wonder what limit Citibank will have for faster payments when they actually start using them?
Not too worried about the CHAPS fees though, I use Forex to make a profit.

coolesticeking

Correct as of 12/06/2011:
http://www.ukpayments.org.uk/faster_payments_service/value_limits/

Bank of Scotland
Yes, phone and internet
Retail customers- £2,500
Corporate customers- £99,999*

Barclays
Yes, phone and internet
Retail customers- £10,000
Corporate customers- £100,000

Citibank
Only available to corporate customers via Internet
£10,000

Clydesdale (including Yorkshire Bank)
Yes, phone and internet
£1000*

Co-operative
Yes, phone and internet
£2,500

Danske (Northern Bank)
Yes, phone and internet
£10,000

HSBC
Yes, phone and internet
Retail customers £10,000
Corporate and FI customers £100,000

Lloyds TSB
Yes, phone and internet
Retail customers £25,000*
Corporate customers £99,999*

Nationwide
Yes, phone and internet
£1,000

Northern Rock
No
N/A

Royal Bank of Scotland (including Natwest & Ulster Bank)
Yes, phone and internet
£10,000

Santander UK plc
Yes, phone (A&L customers can also make Faster Payments via Internet.)
£300

Biggles

coolesticeking wrote: »

Correct as of 12/06/2011

Where did the date 12 June come from? The site you linked to (the same one as in noh's post #11) quotes 10 May, hence the discussion about recent changes.

rb10

coolesticeking wrote: »

Correct as of 12/06/2011:
http://www.ukpayments.org.uk/faster_payments_service/value_limits/

[...]

Santander UK plc
Yes, phone (A&L customers can also make Faster Payments via Internet.)
£300

Well it's not correct - Santander customers can make FPs via internet banking.

izools

rb10 wrote: »

Well it's not correct - Santander customers can make FPs via internet banking.

TBH, knowing Santander, they gave the UKPA the incorrect information...

rb10

izools wrote: »

TBH, knowing Santander, they gave the UKPA the incorrect information...

No, it's just that the UK Payments website hasn't been updated for a while.