Transferring large amounts of money between accounts on-line

alanq

The faster Payments page says that there is a £10k limit with Nationwide BS. This is per transaction. You can make more than one transaction in a day and they could be to the same payee.

"Multiple payments can be made, if the required amount to be transferred is larger than the Faster Payment individual transaction limits."
http://www.nationwide.co.uk/support/support-articles/important-information/faster-payments

However, as with other institutions, there is always a chance that payments will be delayed for additional checks.

Eco_Miser

Deleted_User wrote: »

- consider short-circuiting the security check by phoning them after initiating a large outgoing transfer.

When I transferred about £12k from Yorkshire Bank
they phoned me before I'd even finished entering the code from their security token. I just confirmed that it was me making the transfer, and the money was at the destination by the time I logged in there.

10_66

I was trying to transfer some funds from Lloyds and Bos back into an ISA that I'd previously w/d (flexible) and both suspended the transactions and required phone calls to them to validate them. Each had allowed one lot of £5k but each stalled at a second. I do understand the need to protect fraudulent withdrawals, but it's hardly instant access if you have to spend the next 30 minutes on the phone to the fraud dept.