what to do with £700k for eight weeks

rockitup

Sceptic001 wrote: »

:rotfl:
OK, so no doubt we will see you again in about eight weeks complaining that your house purchase has fallen through because you couldn't get your money out of Santander in time...

(Seriously though, I would check with them what the rules are on withdrawals. Many "instant access" accounts limit daily withdrawals to £10k or £25k.)

Yes, Santander limit withdrawals to £10k a day with their online premier direct a/c but check out CHAPS payments, accessed via a branch visit. Not sure of how much they transfer on CHAPS

oramgepekoe

Which bank is your money currently in? They may have another suitable account that gives more than 1%.

Thefunkygibbons

I have gone with the Santander eSaver, and cannot see anything on maximum withdrawal limits for online transfers

Bizarrely, my current bank is Cahoot, which is part of....

Santander

Thefunkygibbons

No laughing please

The account ended up locked just as I needed it, as £100 was taken out of it over the counter in a town 50+ miles away despite it being an internet only e-saver

However, armed with documentation, I manged to get the money to the solicitor in time and now I have closed the account

ChiefGrasscutter

If it was taken out over the counter they will have video evidence showing who it was -- should be interesting.
How did they have the chipped cash card/PIN?

rockitup

Thefunkygibbons wrote: »

No laughing please

The account ended up locked just as I needed it, as £100 was taken out of it over the counter in a town 50+ miles away despite it being an internet only e-saver

However, armed with documentation, I manged to get the money to the solicitor in time and now I have closed the account

Not even just one? :rotfl:

No seriously, I am glad you managed to get the funds out in time, I was thinking not a chance you would get that much cash out of Santander's pincer-claws....

gadgetmind

rockitup wrote: »

No seriously, I am glad you managed to get the funds out in time, I was thinking not a chance you would get that much cash out of Santander's pincer-claws....

We needed to move £60k out of an esaver and they did it over the 'phone without any bother. It took about three days to hit the other account.

rockitup

gadgetmind wrote: »

We needed to move £60k out of an esaver and they did it over the 'phone without any bother. It took about three days to hit the other account.

But to be fair you should be able to transfer as much as you like Online from the Esaver account to a nominated bank account without having to make phone calls.

A £10k per day online transfer limit from an online account is from the dark ages, Scamtander just love controlling their customer's finances and not letting go of the money. Nationwide have a £10k limit per Bacs transfer but I made 16 transfers of £10k in one online banking session. That's the way it should be...

expatasia

rockitup wrote: »

A £10k per day online transfer limit from an online account is from the dark ages, Scamtander just love controlling their customer's finances and not letting go of the money. Nationwide have a £10k limit per Bacs transfer but I made 16 transfers of £10k in one online banking session. That's the way it should be...

Smart work but didn't you get annoying sudden phone calls or texts(emails?) checking everything was in order? I assume you were out of the UK at that time.

Thefunkygibbons

No update yet on exactly what happened

But there is no card for the account, all online so either it is fat fingers or computer error

As for santander holding onto money, I am feeling it, as I shifted the money into my current account and am hitting all sort of transfer limit problems in getting it transferred to my selftrade account so as to top up the share portfolio