Daily "transfer-out limits" for Internet savings accounts

intalex

Just wondering how many Internet savings accounts (a.k.a. e-Savings, Online Savings, etc) have an apparent security feature which enforces a daily transfer-out limit when paying money into other people's accounts.

I know Barclays enforce a £1,000 daily limit. Anyone know if the other high rate payers (ICICI, Icesave, HSBC, Nationwide) enforce these limits on their Internet savings accounts?

Jonbvn

I bank with HSBC. I have a current and some savings accounts. The transfer limit I have is GBP20k.

I have never found it to be an issue, except when I bought my house and needed to transfer a relatively large amount. 1k does seem very restrictive IMHO.

intalex

Does the 20k limit apply to transfers between your own HSBC accounts, or transfers to other people's accounts (HSBC or elsewhere)?

Jonbvn

intalex wrote: »

Does the 20k limit apply to transfers between your own HSBC accounts, or transfers to other people's accounts (HSBC or elsewhere)?

The 20k limit applies to external transfers to 3rd parties. There is a 100k limit on internal transfers.

Note that the above limits are applicable to online transactions. They can be exceeded if banking in person or via telephone.

Biggles

LTSB have a £10,000 limit for transfers from your current a/c to third parties, which is a real pain as I had to write a cheque last week instead. There seems to be no limit between your own accounts.

a&akay

I have a joint Barclays current account with my wife. She has a separate log in to me as she has a Regular Saver only in her name. I can therefore transfer out a total of £2000 from her and my login on the joint account on the same day ie it is by log in not by account.

frogman_2

I believe that First Direct has a £10,000 limit and anything above that requires additional security checks.

ICICI have a £10,000 per transaction but, I believe that there isn't a daily limit.

Of course, your accounts may vary...