Tesco Bank - limit on amount of BACs Transfer?

Mayday

Is there a limit on the amount that can be transferred via BACs from a Tesco c/a? The amount I'm thinking of is about 15K.

Been looking at Tesco Bank's Help pages but can't find what I am looking for.

Grateful for any advice/help. Thanks.

isasmurf

You'll need to call them to transfer £15k. The online limit to external accounts is £10k

eskbanker

Mayday wrote: »

Been looking at Tesco Bank's Help pages but can't find what I am looking for.

It's mentioned (albeit only in the comments) at https://yourcommunity.tescobank.com/t5/Current-Accounts/How-do-I-make-payments-from-my-current-account-online/ta-p/905:

bmj100 March

how much can be transferred at any one time?

AshleighB March

Hi @bmj100
!
You can transfer up to £10,000 online at one time

clivep

Page 9 of Tesco t'c & c's
https://www.tescobank.com/assets/sections/current-accounts/pdf/tesco-current-accounts-terms-and-conditions.pdf?_=cachebuster18052017

"Faster Payments using Online Banking or the mobile banking app - £10,000 per day.

Telephone Banking - Up to your available balance limit".

Not very good is it. Other banks I've used (Nationwide & Santander) also have a transaction limit but allow multiple transactions the same day.

agrinnall

First up (and as pointed out indirectly by other posters) except in limited circumstances retail banking customers have not been able to do BACS payments for over 5 year now, all payments will use the Faster Payments System (or CHAPS if you're willing to pay for it). A hard daily limit of £10K is pretty poor, so it looks like you have 3 options:

Telephone banking
Transfers over 2 days
Payment by CHAPS (if Tesco offer it)

Mayday

agrinnall wrote: »

First up (and as pointed out indirectly by other posters) except in limited circumstances retail banking customers have not been able to do BACS payments for over 5 year now, all payments will use the Faster Payments System (or CHAPS if you're willing to pay for it). A hard daily limit of £10K is pretty poor, so it looks like you have 3 options:

Telephone banking
Transfers over 2 days
Payment by CHAPS (if Tesco offer it)

Apologies - by BACS I meant Faster Payments.

Thanks for all your answers - looks like we will now be using payments from 2-3 bank accounts to make our payment.

datlex

Yes there is a limit I had issues transferring over £1000. However once I rang them it was fine.