First Direct faster payments limit

intalex

I distinctly remember that First Direct's faster payments limit of £49,999 via online banking was a per-day limit, and now it appears to be a per-transaction limit thereby allowing total payments exceeding this value within the same day. Or has it always been this way?

Astria

How they explained it to me, it was payments under £50,000 were delivered the same day and payments over that amount were sent the next day. There was no guarantee however that payments sent the same day would reach the destination account on the same day, but they do try and give you an estimation of when the money will arrive before you hit the "do it" button.

That said, I sent multiple £49,000 transactions a few years ago and only the first hit the destination account the same day, so you could be right in both cases.

Bigwheels1111

Only 50K a day, well that was last month.

Sent 50k, then later needed to pay a friend £30 and could not.

intalex

Ok so something has changed and maybe kept a bit low key, as I managed to send £50k + another ~£30k to the same payee on the same day... 

Astria

Bigwheels1111 said:

Only 50K a day, well that was last month.

Sent 50k, then later needed to pay a friend £30 and could not.

What do you mean by "could not" ?

Bigwheels1111

Astria said:

Bigwheels1111 said:

Only 50K a day, well that was last month.

Sent 50k, then later needed to pay a friend £30 and could not.

What do you mean by "could not" ?

Tried to send more money on the app, you have reached your daily limit etc.
Called to be told the same thing.

intalex

I sent the payments via online banking and it worked with the second payment. Maybe app is still kept on original limit of £24,999 (I think) and maybe they've kept this as a daily limit instead of changing it to a transaction limit.