Faster payment help and transfer limits!

jonnym8083

I am an due to make a payment from a personal Barclays Bank account of £100k to santander personal account. I want the monies to reach the account by the faster payment options. What are the limits I don't mind sending it say £25k a day for 4 days if faster payment option is available. I just don't want it to be sent where it has 5 days to clear like a cheque. Any advice or info would be great thank you

Paul_B.

Why not just spend 0.025% of the amount and transfer it through CHAPS? Seems a bit odd to go through such hassle for a large amount of money to save so little.

I should be clear that it's not a flat percentage charge but £25 for a CHAPS transfer regardless of amount. Using a cheque would likely raise some anti-money laundering brows at Barclays HQ and delay the payment for longer than the standard cheque clearing time.

InsideInsurance

Barclays have different limits depending on what account type you have and if your doing it by web, phone or branch.

I think its 10k, 15k and 25k respectively from memory for a standard account or 30k on the phone and 100k online for Premier

jonnym8083

Ok so is chaps instant and there is no limit? I see online chaps has to be done by 2pm. If I do it now after 2pm on a Friday when will
They receive funds

Paul_B.

CHAPS is instant and guaranteed payment. When it's gone, it's gone. Last time I done a CHAPS payment the cut off was 3PM I think. You might be able to call Barclays and they will process it quicker than the online system.

Using Faster Payments limits it will still take you 10 full days with Barclay's 10K limit for personal customers. The Barclays site specifies 10K although the Payments council specify 25K. I would go with the Barclays website since the Payments council list might be a little out of date.

jonnym8083

Ok thanks for advice there... So if I send payment after cut off time on a Friday will it go in the other account saturday or Monday? The other account is a personal santander account if that helps

InsideInsurance

Paul_B. wrote: »

Using Faster Payments limits it will still take you 10 full days with Barclay's 10K limit for personal customers.

Their online limit for Premier customers is £100k a day but £30k per transaction so you have to do 4 transactions but all can be completed in one day.

jonnym8083

Would it be £25 per transaction? It's not a premier account just normal banking current account

InsideInsurance

jonnym8083 wrote: »

Would it be £25 per transaction? It's not a premier account just normal banking current account

CHAPS would be but the limits we were discussing were Faster Payment which is free but £10k limit online or up to £25k for in branch for non-premier personal customers

jonnym8083

So to clairify chaps is £25 and I can send it all in one lump sum and will get there same day as long as done before 3pm.. Faster payments limits 10k 25k 30k?? Depending on account held????

InsideInsurance

jonnym8083 wrote: »

Faster payments limits 10k 25k 30k??

10k online
15k phone
25k in branch

Above are the Faster Payment limit for standard personal accounts and so fee free