How is Kent Reliance for basic saving?

The_Big_Bamboo

bob792 wrote: »

Are different people's experiences of whether the money (requested before 1.15pm) arrives in the nominated bank the same day or next related to whether the transaction is more or less than £10k?

http://www.kentreliance.co.uk/support/taking-money-out

Up to £10,000 same day
Over £10,000 under £100,000 next working day

Thanks for that :T;…that’ll be the reason then;

…all my transfers were over £10k but less than £20k.

‘Faster Payments’ have a daily cap of £20k,…I wonder why Kent Reliance have a 2 tiered transfer-out structure, the lowest of which only goes up to £10k?...or is that standard practice for B.Society’s.

bob792

The_Big_Bamboo wrote: »

‘Faster Payments’ have a daily cap of £20k,…I wonder why Kent Reliance have a 2 tiered transfer-out structure, the lowest of which only goes up to £10k?...or is that standard practice for B.Society’s.

The 'Faster Payments' system has a £250k cap, but banks pick lower amounts to suit their own needs.
Many BS's only pay out the next day for everything, so £10k the same day is better than them.

The_Big_Bamboo

bob792 wrote: »

The 'Faster Payments' system has a £250k cap, but banks pick lower amounts to suit their own needs.
Many BS's only pay out the next day for everything, so £10k the same day is better than them.

It’s quite interesting to see how the different Banks et al set their ‘Faster Payment’ limits… it’s a bleedin’ minefield.

http://www.fasterpayments.org.uk/about-us/personal-transaction

hoc

The transfer out functionality tends to be unavailable late at night (after 11PM). The site works so it is not general maintenance, but the transfer out page says something to the effect of "can't do it now, try later". It has always been available in the morning.