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Faster Payments - Savings Accounts
buffman
Posts: 440 Forumite
Many savings accounts are beginning to allow withdrawals to be made by Faster Payments. However different institutions limit the maximum amount permitted in a single transaction (e.g. First Direct has a transaction limit of £10k) or have a daily limit (NatWest has a daily limit of £10K). The ability of a savings account to make Faster Payments on fairly large sums increases the attractiveness to savers as they will not lose interest while money is being transferred. Is there anywhere a comprehensive list of the maximum amount different institutions permit to be withdrawn by this method?
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