Barclays Online banking transfer limits? (stupid)

jonesMUFCforever

smithja wrote: »

They are protecting their shareholders and their massive profits, not their customers. As an employee of a bank you are very fast to point out where a customer makes an error, such as forgetting about a once a year CPA, but make no comment about how the companies or banks could help out their customers when these things go wrong even a statutory reminder letter once a year one month before it is due with the ability to cancel would be enough. You give the impression the banks can do no wrong, it all the customers fault and it is far from it. James

A few facts which you will find unpleasant but are 100% true -

Without shareholders and profit there would be no banks - they have to make money to survive. They are not a social security system.
You as a customer can have a free bank account in the UK as long as you spend your money not the banks.
Banks are not a party to CPA 's so why should they give ' a statutory notice' (they don't make laws either!) to them - if you are unable to remember what CPA you signed up for then its not the bank who has a problem.

I do not give the impression that banks do no wrong - far from it .In this instance a poster said his daily internet limit is £1000 - i gave a suggestion as to why this was in place (The growth of internet fraud is incredible!) you suggested that it was for the safety of the bank - well you are right and there is nothing wrong in that is there?

If you have a big transaction to transact all you need to do is speak to your bank who will give you alternatives.

smithja

Without shareholders and profits most people would be saving a lot of money using credit unions probably. I am fully aware who our legislators are, however, it does not stop the banks from lobbying for a change in the law, or simply amending the banking code. "you are unable to remember what CPA you signed up for them who has a problem", do you really beleive that? You dont think there could be a large variety of reasons why someone would not remember a once a year recurring transaction on the exact date it is due to be paid? if that is the case, then I would suggest you read more on memory, human psychology, some neurology, and then finally the Disability Discrimination Act and the new Equality Act. Why do CPA's exists, why not write to the customer a months before asking for permission to charge the card or ask them to pay by another method? Again, there is nothing wrong with banks protecting their money and their customers money and their shareholders money, however, setting limits which restrict people access to their own money does cause people problems and you are giving the impression you are failing to recognise it. One minute it was the customers money, now it is the banks money, why not state in the first place what you stated later after my prompting rather than scaring people that if someone gets hold of "their" money, they wont be getting it back (which even although you did not say, it was implied). James

DesG

Could we bring this back on topic


So... BACS Transfer Limits

Barclays - £1000/day

HSBC - £10,000/day

Nationwide - £50,000/day

BOS - No Limit

Abbey - No Limit

LTSB - £10,000/transaction

Any others?

Cheers, Des.

jonesMUFCforever

smithja wrote: »

Without shareholders and profits most people would be saving a lot of money using credit unions probably. I am fully aware who our legislators are, however, it does not stop the banks from lobbying for a change in the law, or simply amending the banking code. "you are unable to remember what CPA you signed up for them who has a problem", do you really beleive that? You dont think there could be a large variety of reasons why someone would not remember a once a year recurring transaction on the exact date it is due to be paid? if that is the case, then I would suggest you read more on memory, human psychology, some neurology, and then finally the Disability Discrimination Act and the new Equality Act. Why do CPA's exists, why not write to the customer a months before asking for permission to charge the card or ask them to pay by another method? Again, there is nothing wrong with banks protecting their money and their customers money and their shareholders money, however, setting limits which restrict people access to their own money does cause people problems and you are giving the impression you are failing to recognise it. One minute it was the customers money, now it is the banks money, why not state in the first place what you stated later after my prompting rather than scaring people that if someone gets hold of "their" money, they wont be getting it back (which even although you did not say, it was implied). James

Oh God beam me up psyche!

DaisyFlower

I'm with Barclays and I like the limit on transfers.

It gives me peace of mind that if I ever was subject to online fraud they couldnt wipe out my 4 accounts in one day - either the bank would notice if a daily transaction of £1000 was being made or I would when checking my account.

Biggles

LTSB is £10,000 per online transfer.

smithja

"Oh God beam me up psyche!", if you are that cynical about simple human behaviour and relationships and equality, then maybe it is Aristotle you should be reading instead. However, I am sure you will go far in the bank, Scott Adams and his depictions in his cartoon Dilbert come to mind also. James

[Deleted User]

DesG wrote: »

Could we bring this back on topic


So... BACS Transfer Limits

Barclays - £1000/day

HSBC - £10,000/day

Nationwide - No limit

BOS - No Limit

Abbey - No Limit



Any others?

Cheers, Des.

Nationwide policy is actually (from their website when logged on):

You can transfer up to £50,000 (£3,000,000 between your FlexAccount and e-Savings) today. Transfers set up for the future are for a maximum of £10,000.

Think £50k should be enough though!

cellardoor

Thanks for the info. To answer previous comments. I'm well aware of why the limit is there but I'm saying its unrealistic!