How to make large bank transfer

[Deleted User]

Think i did it by phone

glennevis

london21 said:

Best to go into branch, just checked Natwest their limit is low. Santander allow up to £100,000 within 24 hours in branch.

For the record, with Santander you do not have to go to a branch. They allow up to £100k online per day via BACS transfer which will trigger extra security checks. I did £130k in 2 transactions over 2 days, money arrived within 2 days.

Flugelhorn

not sure why the solictors are wanting max of 3 payments - I paid 270K in 20k daily payments (was lockdown so a bit different)

I am RBS account holder and outside lockdown I  found CHAPS at NatWest very straightforward 

user1977

Flugelhorn said:

not sure why the solictors are wanting max of 3 payments - I paid 270K in 20k daily payments (was lockdown so a bit different)

Presumably to save themselves from having to process 14 payments from their more miserly money-saving clients

london21

glennevis said:

london21 said:

Best to go into branch, just checked Natwest their limit is low. Santander allow up to £100,000 within 24 hours in branch.

For the record, with Santander you do not have to go to a branch. They allow up to £100k online per day via BACS transfer which will trigger extra security checks. I did £130k in 2 transactions over 2 days, money arrived within 2 days.

True, I went into the branch with my passport because large amounts and did not want them to block the payment for security etc, all payment cleared without problem. 

silvercar

Recently with NatWest and a similar sim of money, we had to phone up and arrange it. We already had voice recognition set up, so that assisted with the security side of things.

JonMitchell

Is there a regulation that solicitors can only allow 3 payments from clients? Definitely not heard of tbh.

Might be worth asking your solicitor why such practice - always good to know rather than being led by them just because it is more convenient for them.

user1977

JonMitchell said:

Is there a regulation that solicitors can only allow 3 payments from clients? Definitely not heard of tbh.

Absolutely none, entirely up to them what protocols they want to have about such things. But in practice, every receipt requires some sort of manual admin to check who it's from and allocate it to the correct file, so I can see why they would consider substantially easier just to get it all in one lump sum rather than watch it arrive in dribs and drabs.