first direct max payment amount

ifstar

I've tried messaging first direct but they haven't got back to me.
I'm getting new central heating installed later in the month and will be doing a bank transfer to pay the balance however I don't know what the maximum amount (if any) that I can do either in a single transaction or in a day.

Anyone know?

katejo

ifstar wrote: »

I've tried messaging first direct but they haven't got back to me.
I'm getting new central heating installed later in the month and will be doing a bank transfer to pay the balance however I don't know what the maximum amount (if any) that I can do either in a single transaction or in a day.

Anyone know?

It may be £500. I have a FD account and recently found that I could only transfer £500 in a day. However give them a ring and ask. FD are very good re. answering the phone.

innovate

£500 must be a personal limit on your account. The normal daily limit at FP is £10K (all of which can be in one transaction). As katejo suggested, give them a call to find out about your limit.

Hazzanet

I regularly send £2k, so I concur with innovate that this could be a limit for your account or the payee involved.

artbaron

I don't know about FD but I'm fairly sure there's no (restrictive) limit on paid transfers, the cost usually being around £20, and it's only the non-paid transfers where limits are imposed (sounds like a money-making scam by the banks). I'm willing to be corrected on this, however, as I'm not certain where FD are concerned.

JuicyJesus

artbaron wrote: »

and it's only the non-paid transfers where limits are imposed (sounds like a money-making scam by the banks)

Most banks will do £10k per day free of charge. Charging for anything over that isn't a "scam", it's a fee charged for a service - a service which actually involves a great deal of manual processing and checking (if you're talking about CHAPS) and carries proportionally higher risks for all concerned.

dalesrider

ifstar wrote: »

I've tried messaging first direct but they haven't got back to me.
I'm getting new central heating installed later in the month and will be doing a bank transfer to pay the balance however I don't know what the maximum amount (if any) that I can do either in a single transaction or in a day.

Anyone know?

Same as HSBC.
10K.

But be aware that paying via a banking payment means the same as giving cash. So there is no comeback should there be a problem.

anselld

I have previously done multiple £10k payments to the same payee on same day with no problem.

Gromitt

You can send 25K in a single transaction with TSB, and I believe Santander limit to 100K.

Nationwide only let me send 10K in one go, but I managed to transfer 80K in 9 individual payments (£1 + £9999 + 7*10K)

dalesrider wrote: »

But be aware that paying via a banking payment means the same as giving cash. So there is no comeback should there be a problem.

Surely if you send the money to the correct sort code/account and the bank lose it, there is comeback ?

System

I think lack comeback means no chargeback or Section 75 joint liability rights rather than worrying about the money going missing.

Gromitt wrote: »

You can send 25K in a single transaction with TSB, and I believe Santander limit to 100K.

Nationwide only let me send 10K in one go, but I managed to transfer 80K in 9 individual payments (£1 + £9999 + 7*10K)

Surely if you send the money to the correct sort code/account and the bank lose it, there is comeback ?

dalesrider wrote: »

Same as HSBC.
10K.

But be aware that paying via a banking payment means the same as giving cash. So there is no comeback should there be a problem.

DaveK1971

I'm with NatWest and can transfer £25k but beware that if you are transferring a large amount to a new payee it could be picked up as potential fraudulant activity which could cause a delay while you have to confirm the transaction over the phone etc.