Large payment from Halifax to Llyods

GentleGiant_2

Okay - wish to send a large payment from Halifax to Lloyds of around £120,000

This will be above the faster payment limit of £25,000

However as it is within the same 'bank', does anyone know if they have a different option? Or must one pay £25 for a CHAPS?

Also can a CHAPS payment be made directly from a savings account - or would I have to move the money to my bank account?

Thanks.

psychic_teabag

When I send payments from Halifax to Lloyds, it seems to go through as an internal transfer. So I'd guess the payment limit may not apply. That said, you still enter it as a payment, so it depends where in the process the limit is checked / applied

MoneySaverLog

It bypasses faster payment altogether so £25K limit does not apply.

It seems to be like transferring between accounts at the same bank.

GentleGiant_2

Thanks to everyone

GentleGiant_2

MoneySaverLog wrote: »

It bypasses faster payment altogether so £25K limit does not apply.

It seems to be like transferring between accounts at the same bank.

Been advised that this is not true

Been told I will have to pay for a CHAPS transfer.

innovate

At Nationwide and First Direct, you can make several payments on the same day, each one for the pull FP limit. May be the same works at Halifax, too?

Alternatively, may be you could set up a Standing Order for £99,999 for the day in question, and the remaining £20K by faster payment.
http://www.ukpayments.org.uk/faster_payments_service/value_limits/

But on a different matter: are you happy to have more than £85K in a single financial institution?

jennifernil

GentleGiant wrote: »

Okay - wish to send a large payment from Halifax to Lloyds of around £120,000

This will be above the faster payment limit of £25,000

However as it is within the same 'bank', does anyone know if they have a different option? Or must one pay £25 for a CHAPS?

Also can a CHAPS payment be made directly from a savings account - or would I have to move the money to my bank account?

Thanks.

According to the details of FP limits on Halifax website,you can send almost £100k from some savings accounts.

http://www.halifax.co.uk/onlinebankinghelp/fasterpayments.asp


If that is correct for your account, you could do that plus the rest from your current account.

Or send it over several days from both accounts.

GentleGiant_2

Thanks - it seems to be a websaver account - which they no longer offer LOL

GentleGiant_2

Okay - just in case anyone reads this topic in the future.

The definite answer is.....

Faster Payments - £25,000 maximum to other accounts, except if going to another HBOS account with a matching account name, then there is no limit. It takes up to 2 hours, except to another HBOS account which is immediate.

All larger payments need to go via CHAPS at £25.

plunt

well i suggest you throw them off and find to branches right next to each other and request it in cash. then deposit it in the other bank account

innovate

plunt wrote: »

well i suggest you throw them off and find to branches right next to each other and request it in cash. then deposit it in the other bank account

Que?...........................................................................