£40K faster payment

Gromitt

I tried to make a 24K payment today from FD -> Halifax and it said I had missed the cut-off date and it would be sent tomorrow. I cancelled and transferred 10K, then another 10K, then another 4K, all in the same hour. 2 mins later they were at Halifax and ready to transfer into my Online saver.

So it seems its not 10K per day, but 10K per transaction? (Don't know what would have happened if I accepted to transfer it tomorrow instead).

catokelly

Most personal bank accounts have a daily transfer limit of £10k per day. However many business bank accounts have a £100k daily limit.

If your limit is £10k, you could contact your bank directly to send the larger transfer but they may charge you a CHAPS transfer fee.

More info about daily payment limits here: http://www.fasterpayments.org.uk/faster_payments/how_to_use_the_faster_payments_service_new/-/page/1948/

mulronie

dalesrider wrote: »

Glad you decided not to send a cheque......

Get a lot to HMRC that get intercepted and only picked up a couple of months down the line when HMRC starts chasing the payment.

Damn you rumbled me... and to think I already changed my name to Henry Michael Robert Cooper by deed poll.

Naf

mulronie wrote: »

Damn you rumbled me... and to think I already changed my name to Henry Michael Robert Cooper by deed poll.

Another trick is changing;
HMRC. To
#MR.C. <name>

Hominu

catokelly wrote: »

Most personal bank accounts have a daily transfer limit of £10k per day. However many business bank accounts have a £100k daily limit.

Nationwide don't, HSBC don't, First Direct don't, Santander don't. So I wouldn't call it "most". The first three have a 10K *per transaction* limit, but you can make multiple 10K payments in the same day. Santander is higher, but I'm not sure what it is currently without checking.