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Debit card - impose a weekly limit?

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GustyGardenGalaxy
GustyGardenGalaxy Posts: 758 Forumite
Part of the Furniture 500 Posts Name Dropper
edited 23 October 2016 at 9:52PM in Budgeting & bank accounts
Is it possible to impose a weekly withdrawal limit on a NatWest Visa debit card linked to a current account?

As things stand the limit is £250 per day, but is there any way to make this £250 (or another fixed amount) per week?

I guess the answer will be to speak to NatWest directly but I thought I'd ask here first.

Thanks

Comments

  • IMO no.
    But the only sure way to find out is to ask them.
    If you did manage to get this done - why?
    What if you are stuck somewhere in desperate need of cash but you have already got to your limit??
  • Kim_13
    Kim_13 Posts: 3,408 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Photogenic
    A solution would be to obtain another current account and transfer £250 into it per week, and only carry that card with you. If you ask for the reserve limit to be removed, this would prevent an unathorised overdraft, though there may be a failed transaction fee.

    Savings accounts with cards would have no charges but you wouldn't be able to use the card to make purchases.
  • mwarby
    mwarby Posts: 2,049 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Sounds like a prepaid debit card, paid by standing order could be the way to go, although this would cost
  • mwarby
    mwarby Posts: 2,049 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Or maybe leave card in safe place, using it only to withdraw a fixed amount per week
  • Self control.
  • You may be able to request a lower daily limit that when added up comes to the total you're looking for.
  • colsten
    colsten Posts: 17,597 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    Take out £250 in cash once a week, leave the card at home and use cash. And self-control.
  • Anthorn
    Anthorn Posts: 4,362 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Is it possible to impose a weekly withdrawal limit on a NatWest Visa debit card linked to a current account?

    As things stand the limit is £250 per day, but is there any way to make this £250 (or another fixed amount) per week?

    I guess the answer will be to speak to NatWest directly but I thought I'd ask here first.

    Thanks

    The new breed of app-only Fintech banks are likely to offer the ability to control spending but probably not available until early in 2017. Right now the Soldo prepaid Debit Mastercard has the ability to set a weekly or monthly spending limit and the card can be automatically disabled when the spending limit is reached and that can be turned on and off through the mobile app.

    Looking at the blurb from TSB the daily limit applies to ATM withdrawals only and that can be changed by contacting them. Both TSB and Lloyds have the "Control" add-on for a monthly fee which stops withdrawals if the account is about to go overdrawn. For "Control" enabled accounts transfer the amount you want to spend into the account.
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