Nice one NR/Virgin

ANGLICANPAT

Isnt it amazing , that Northern Rock/Virgin have no limit on the daily amount you can take out of your account with them , and even better, it ALWAYS goes by FP (even if its a 6 figure amount ) because they dont do BACS . Did I dream I was told this this morning when I rang them lol ? Cant think of any other bank/BS where this is the case . If Virgin can do it, why the heck are there so many infuriating restrictions with everyone else ? Gone, all that stupid jiggling taking 5k from an account one day, then 5k the next, and maybe a further 5k from a different account, all to fund one bond elsewhere.

Gaffy

LloydsTSB does £25k per day but that's the highest amount that I know of.

SallySunshine

I have an on-line bond maturing wth the Barnsley shortly, this will then be put into their on-line saver account.

From there I can tranfer the lot to my chosen bank account on the same day. I was told there was no limit to the funds transferred as they don't do CHAPS.

ANGLICANPAT

Thats pretty good , and Barnsleys only little. Why cant the big players let you move limitless amounts then , its frustrating.

Ifts

Had similar experience to SallySunshine when my Skipton Bond matured in November 2011, the money was paid in to my Skipton online account.
I managed to withdraw the full £83K in one transaction with no problems (withdrawn 21st, paid in to linked account 23rd) at the time it went by BACS, but wonder if they will now be doing same day electronic payment.
Was well impressed with Skipton that they didn't restrict the withdrawing to £10K per day like some do. I emailed Skipton too with positive feedback, to let them know.

opinions4u

ANGLICANPAT wrote: »

Isnt it amazing , that Northern Rock/Virgin have no limit on the daily amount you can take out of your account with them , and even better, it ALWAYS goes by FP (even if its a 6 figure amount )

The FP limit is £100k.

http://www.fasterpayments.org.uk/faster_payments/how_to_use_the_faster_payments_service_new/-/page/1943/

Ifts

opinions4u wrote: »

The FP limit is £100k.

Although the FP limit is £100k, its another story when it comes to what each financial institution decides to let you move via FP

If only they all worked by the FP limit of £100k, and didn't limit us when it comes to withdrawing large amounts, after all it is our money.

Vortigern

ANGLICANPAT wrote: »

Isnt it amazing , that Northern Rock/Virgin have no limit on the daily amount you can take out of your account with them , and even better, it ALWAYS goes by FP

Not only that, but they also allow you to close an account online. The system then calculates the interest to date and transfers the total by FP to your linked account. Why can't other savings accounts be like this?

IronWolf

wow, I might get one, screw Santander and their £400 limit on faster payments.

ANGLICANPAT

opinions4u wrote: »

The FP limit is £100k.

http://www.fasterpayments.org.uk/faster_payments/how_to_use_the_faster_payments_service_new/-/page/1943/

Aha, so my helpful NR/V person wasnt quite correct then , but hey, I can live with a £100k limit ! Now all I need is the 100k!

ChiefGrasscutter

for the limits....of each bank
..http://www.paymentscouncil.org.uk/resources_and_publications/faster_payments_value_limits/

PS look at the Santander one: