TESCO Bank CS - 5 stars

colsten

colsten wrote: »

Are you saying the listed banks all make larger payments for you without charging CHAPS fees? That would be good to know.

As you haven't responded to above, I take it you haven't had that requirement so you don't know any more than I know what their response/policy/charges would be.

callum9999 wrote: »

I read the OP as saying they still sent a faster payment over the phone, not CHAPS. If it was CHAPS it's not inconceivable that a nice agent would waive Tesco's £25 charge, but the saying "of course it's free" doesn't really add up. I've never made such a large payment in one go so I don't know - though many of them have higher limits than £10,000. Lloyds and Halifax have £25,000 I believe.

I did not ask for a CHAPS payment, and the agent did not suggest I had asked for one. I was just concerned that they would lob a CHAPS charge on me for asking to make a payment over the online limit. I was pleasantly surprised they didn't - and none of us here so far know whether any of the other banks would have done the same.

YorkshireBoy

I've previously done £50K over the phone with them, and another £20K the next day by the same method. Is the telephone limit still £50K colsten?...if indeed you asked?

colsten

I didn't ask about the telephone limit, YB. My transfer request was a just modest £15,240, my current annual ISA allowance.

You might be right that Tesco have a £50,000 telephone payment limit, without charging the CHAPS fees. I don't now when their, or other banks', CHAPS charges kick in because I can't easily find anything anywhere that tells me what it is. At TESCO Bank, it seems it's something above £50K from what you say. Would be good if the limits were published somewhere, and if it was made clear when/if the CHAPS charges kick in.

callum9999

colsten wrote: »

As you haven't responded to above, I take it you haven't had that requirement so you don't know any more than I know what their response/policy/charges would be.



I did not ask for a CHAPS payment, and the agent did not suggest I had asked for one. I was just concerned that they would lob a CHAPS charge on me for asking to make a payment over the online limit. I was pleasantly surprised they didn't - and none of us here so far know whether any of the other banks would have done the same.

Wow. Why on Earth are you so aggressive about someone daring to question Tesco's Faster Payment policy... I did respond, which you'd see if you bothered to read my post properly, and clearly said I hadn't tried sending a payment of that size.

Some of us are able to research things without personally conducting the transactions however, so I can confirm that Lloyds, Halifax, Co-op, Natwest and N&P would have transferred that for free (all of whom would have let you do it online and not have to call up...). HSBC has a £10k limit and I can't see TSB's, though I'd be surprised if it was any different to Lloyd's given their partnership.

I didn't say you did ask for a CHAPS payment... As above, some of us do indeed know whether other banks would do the same. And it turns out most of them will... And if the limit is indeed £50k with Tesco, some of them are even better (Co-op, Citibank, Northern Bank and Santander all allow £100k).

Dobbibill

colsten wrote: »

It's very rare that I need to ring them but every time I do, I get excellent service. I thought this was worth a mention, to make a change from the negative posts we usually have here.

This does indeed make a lovely change. Many seem quite happy to shout from the rooftops when CS is not very good but very few take the time to actually say when it is good, easy and helpful, a lovely refreshing post Colsten.

Dan83

I use to ring tesco quite a lot for various reasons, always excellent service.