Daily limit timings for withdrawals

jicms

Can anyone advise times for daily limits for withdrawing savings.  I presume this should be consistent across the industry.
I attempted a new online withdrawal at 00:30 from my Al Rayan Bank savings account (the previous one was 12 hours earlier) and was informed I have exceeded my daily limit.  As I am being forced to withdraw my large balance in small chunks this information is critical. I'm guessing their "day" starts from their opening time i.e. 8 am and therefore end at 7.79 am.
Alternatively I have to go through a lengthy process of applying for a proof of signature form then writing to request account closure which will take weeks as I'm currently out of the country.
It's so hard to get through to them on the phone, they don't answer secure messages and their chat isn't operational.

gt94sss2

jicms said:

Can anyone advise times for daily limits for withdrawing savings.  I presume this should be consistent across the industry.

No, its not consistent across different financial institutions.

You would need to check the T&C of each institution to find their opening times

refluxer

I've never come across this problem and have always presumed that a daily limit was exactly that and simply comes down to the date (so essentially midnight to midnight). 

Why is this information critical, though ? You can still only withdraw up to a specified amount in any 24 hour period, regardless of when the bank defines that to start and end, so wthdrawing at the same time every day would be the answer.

Going forward - if you move large sums of money often, it might be worth looking at the banks who aren't as limiting. Zopa and Atom (for example) don't limit the amount you can withdraw each day so you can withdraw any amount at any time of the day without an issue. Withdrawals from Atom's Instant Saver are instant and Zopa's Smart Saver take about 15-20 minutes, in my experience.

dunstonh

Alternatively I have to go through a lengthy process of applying for a proof of signature form then writing to request account closure which will take weeks as I'm currently out of the country.
It's so hard to get through to them on the phone, they don't answer secure messages and their chat isn't operational.

The problem with using small players is that their services and functionality limit you.   When you buy a financial product, you should make sure that you are not cost focused to the level that its a pain in the neck.