Lloyds Bank Daily Payment limits £99,999 ?

Saver101101

Hi, I was under the impression that the daily payment limits for Online and Mobile banking were £25,000 a day, but on the App it says £99,999. Is this just a  glitch or have Lloyds increased the limits ?.

robatwork

I'm going to test it....hang on........checks account......

We will have to leave it to someone else on this occasion.

tacpot12

The £99,999 limit is on total payments per day, so the limit might well be £25,000 per payment. This is a common payment limit on retail customer current accounts. Business accounts might well have a £99,999 limit per payment.

Descrabled

Payment limits

My app gives a limit of £25,000 per day with a reset at 23:59. No limit on transfers.

Do I need to complain that I'm being short changed?

Saver101101

tacpot12 said:

The £99,999 limit is on total payments per day, so the limit might well be £25,000 per payment. This is a common payment limit on retail customer current accounts. Business accounts might well have a £99,999 limit per payment.

Yes that's true it could be a total limit rather than per payment (I hadn't though of that), although it is a personal account not a business account I have. Not that I would ever need to send £25,000 let alone £99,000 !.

Penelopa.Pitstop

I can't find these limits on my app, not sure where to look for. I was caught by £25K limit before and had to make two payments, one per day. Since then,  I use Nationwide and make multiple 10K payments.

Saver101101

Penelopa.Pitstop said:

I can't find these limits on my app, not sure where to look for. I was caught by £25K limit before and had to make two payments, one per day. Since then,  I use Nationwide and make multiple 10K payments.

From the App Home Screen - Payments and Transfers - Click on a Payee then "View Payment Limits" (About Halfway down between "Amount" and "Ref".

Saver101101

As you can see I transferred money earlier so the limit has dropped for today.

Thrugelmir

tacpot12 said:

The £99,999 limit is on total payments per day, so the limit might well be £25,000 per payment. This is a common payment limit on retail customer current accounts. Business accounts might well have a £99,999 limit per payment.

Appears as if the single payment limit is £10k. Most likely will be restricted to one per day to an individual payee. 

Saver101101

Thrugelmir said:

tacpot12 said:

The £99,999 limit is on total payments per day, so the limit might well be £25,000 per payment. This is a common payment limit on retail customer current accounts. Business accounts might well have a £99,999 limit per payment.

Appears as if the single payment limit is £10k. Most likely will be restricted to one per day to an individual payee. 

But the £10k Limit seems to be for Telephone Banking ?, Online and Mobile banking is £99,999 (Almost £100k), which cant be right surely, so would that mean you could transfer 10 payees £10K each, or 1 Lump payment of £100k ?.

Penelopa.Pitstop

Saver101101 said:

From the App Home Screen - Payments and Transfers - Click on a Payee then "View Payment Limits" (About Halfway down between "Amount" and "Ref".

Thanks. I would never look for it there. I have only 25K daily limit, so it explains why I couldn't make any more payments on one day.