HSBC CHAPS Limits

Westie983

England doesn't have £100 notes and we live in fear of £50 as it is :-)

SunnyBanker

There is a LOT of incorrect information on this thread.


The HSBC Faster Payment Limit is £100k. You can make a FP in any branch or on online banking (if you're registered) for up to £100k.


£10k is the payment limit per day, per beneficiary for payments made via their TELEPHONE banking service only. This limit has nothing to do with whether the payment is a CHAPS, Faster Payment, International payment etc. It's a telephone limit.


If you go into a branch then you can make a FP if the amount is up to £100k or a CHAPs if it's over. The cut off time is 3.30pm.


Either way...whether it's CHAPs or FP, if it's a large amount and the first time you're doing it, it will probably get stopped by their Compliance team and you have little chance of it reaching the beneficiary the same day, never mind within 2 hours. You'll get no where complaining about this...on the website, their literature, T&C, phone service - you will always be informed that the payment timescale applies subject to usual fraud checks.

Which means they can send it whenever the hell they like.

agrinnall

SunnyBanker wrote: »

There is a LOT of incorrect information on this thread.


The HSBC Faster Payment Limit is £100k. You can make a FP in any branch or on online banking (if you're registered) for up to £100k.

Not according to the Faster Payments transactions limit page (last updated 7th August 2015), which clearly shows the internet and telephone banking limit for retail customers as £10,000.

http://www.fasterpayments.org.uk/consumers/transaction-limits

What I suspect you can do is make multiple £10K payments in the same day, I did this from my FD account to transfer nearly £60K in one day, and the same limits probably apply to HSBC.

colsten

SunnyBanker wrote: »

Which means they can send it whenever the hell they like.

That sort of attitude appears to be, sadly, quite common amongst HSBC employees. One of the reasons why I would not use HSBC for my day-to-day banking needs.

grimsalve

There's definitely a £10k per day limit with HSBC - I ran into this problem a couple of weeks ago. For a "small fee" HSBC will increase this limit but I refused to pay it and then told them where to stick their outdated payment restrictions.