Santander transfer limit?

mgdavid

Archi_Bald wrote: »

I think it is probably more a case of misunderstanding on your part.
............
This is completely unnecessary panic making.

I agree; nothing new to see here - move along.

(and by the look of it another one for the blocked list)

eskbanker

No_Santander wrote: »

I am not against Santander at all

That'll explain the neutral and impartial username, clearly no agenda here then....!

dingdong3000

I normally secure message/call Santander before making a big transfer a week in advance.

zerog

Basically the way Santander does its checks are by holding your money for several hours (up to 16 in my experience, not sure about long bank holidays / weekends), which is within the rules of the Faster Payments scheme as transfers only need to arrive by the end of the next working day

Once in a while they will call you with an automated system at or around 8.30am, which you would be advised to answer. Sometimes your money arrives at its destination before you get the call

The way to avoid these checks is to train your Santander account to accept large transfers to one of your other accounts. The way I do it is £50, £100, £500, £1000, £3000, £5000, £10000, going up each week.

Then use the other account to actually send the money. The other account will have a security device, so that you can be sure the transfer is immediate, and you won't get locked out of your account. I use Nationwide and First Direct.

Santander is slightly better than Lloyds group accounts, in that it won't actually lock you out of your internet banking account unless you fail the automated security phone call

However, I was recently surprised when Halifax recently locked my internet banking for a £50 transfer to my new Yorkshire Bank account, in that after 10 minutes they texted me saying that they had unlocked it!

2 years ago, my Halifax account was locked for 2 months because I had tried to transfer £200 to a new Santander esaver. Halifax eventually paid me £100 compo for this.

Now if you want to suddenly transfer £50000 to any new account e.g. for house purchase, then you're probably going to have trouble whatever you do - in fact the best way to avoid trouble is to do it in branch with photo ID.

Thrugelmir

janeke wrote: »

Am I going to having to pay for a Chaps transfer to ensure she gets the money when it is needed


Thanks , Jane

Your daughter then has the issue of getting the money to the conveyancer. So a direct transfer to same may be more practical.

Steve_xx

I wonder if it would make a difference if you were to log on to your account and set the payment to be made say a week in advance?

I say this because I'm always a bit wary of sending big amounts to a new payee, even though the payee may even be myself. I've set myself up as a new payee on a few occasions and if tranferring large amounts have found that they will often stop the first payment to query it. So instead I set up the payment to be made two or three days after setting myself up as a payee and that seems to work without problem.

bouicca21

I made two similar transfers by faster payment when I bought my place last year. The experience with Santander was better than Halifax, but the belt and braces method of ensuring a transaction goes through, without being blocked for security reasons, is to go into branch with ID and get the counter staff to do it for you.