BoE watching UK banks after American tech bank goes under

[Deleted User]

I am not aware of any bank that would allow you to transfer that much without a branch visit, at least for standard current accounts. RBS for example will not allow more than £25,000 to be transferred unless you visit branch. And even then it has to be approved by a manager.

eskbanker

[Deleted User] said:

You can’t even transfer more than 25k without visiting a branch.

It varies by bank, Barclays is £50K for example:

https://www.barclays.co.uk/help/payments/payment-information/online-banking-limits/

Rob5342

Most banks don't have branches and you can still withdraw large amounts. Marcus for example let you withdraw the entire balance by phone.

[Deleted User]

eskbanker said:

[Deleted User] said:

You can’t even transfer more than 25k without visiting a branch.

It varies by bank, Barclays is £50K for example:

https://www.barclays.co.uk/help/payments/payment-information/online-banking-limits/

Oh I see so it’s RBS who are a little behind the times!

[Deleted User]

Rob5342 said:

Most banks don't have branches and you can still withdraw large amounts. Marcus for example let you withdraw the entire balance by phone.

Isn’t that to a nominated account? What happens if you need to pay for a property etc 

eskbanker

[Deleted User] said:

eskbanker said:

[Deleted User] said:

You can’t even transfer more than 25k without visiting a branch.

It varies by bank, Barclays is £50K for example:

https://www.barclays.co.uk/help/payments/payment-information/online-banking-limits/

Oh I see so it’s RBS who are a little behind the times!

Not necessarily, some have lower limits, but the key message is that it's bank-specific rather than being a standard one-size-fits-all figure....