Transferring large amount from my Santander to another bank.

ZZaffy

I have tried to transfer money online from Santander to a new higher interest rate account with another bank.
Santander say there is a £100k transfer rate limit.  I am under that limit but the transfer was blocked.
I have tried FAQs on both bank websites and there is no mention of the problem.
I can only conclude that this hiccup is due to me doing something wrong, and that transfers usually transfer easily and smoothly with no problem whatsoever. 

Doctor_Who

The £100K limit is per 24 hours, but there is a £25K limit per transaction (just do several payments if you need to transfer more). Also make sure your payment limit is set to £25K.

This might help:

https://www.santander.co.uk/personal/support/ways-to-bank/payments-and-transfers

refluxer

This might just be Santander's anti-fraud measures kicking in because it appears to them to be a suspicious payment. This can sometimes happen when you attempt to transfer a large sum to a new payee. Santander are often mentioned on here specifically for this issue. I've never had any problems with them myself, but I do tend to do all my transfers via a current account with a different bank, rather than transferring from Santander directly.

Catplan

Try telephone banking, or on the app select more > manage payment limits…. I’m on iOS and believe this is relatively new, not sure if it’s on the usual website. I was set to 5k, I’ve never asked for this and have for example this year transferred 20k, feb and March hence I believe this payment limit was somewhat new. For balance I think it would have stopped / prevented about 4 transfers in the last 12 months, I can understand why it’s been implemented but the communication has so far been non existent unless I’ve missed an email.

maman

Why not call them and ask? I had occasion to ring Santander earlier this week and found them very helpful. 

Bigwheels1111

I hope it goes through for you.

Other have been locked out of their accounts in the last month.

Search the forum for the posts.

I took all my savings out of Santanderfor this reason 3 months ago.

masonic

Santander seem to be one of the worst for refusing to send Faster Payments, but it is reported that their limit is higher for phone and branch than online. Also, strangely, a standing order can be for up to £100k, so perhaps set one up for Monday?

https://www.wearepay.uk/what-we-do/payment-systems/faster-payment-system/transaction-limits/

Sg28

Its probably been blocked by thier fraud team, and they haven't bothered to tell you. You'll probably have to ring them to get it to go through. 

Rollinghome

What is particularly annoying with Santander is that they don't keep the customer informed.  Just because they joyfully announce "Success!" after a payment is made, it doesn't mean the payment hasn't been blocked. 

You won't know until you check to see if a payment has been received and call them. I had that just last week, trying to make a payment of just £10k to an account in my own name that I'd successfully paid into before. It took an hour and a half long phone-call to get it sorted.

Still more annoying is trying to make a payment, finding that it hasn't gone, getting an automated call asking for DoB and other details and confirmation that you did ask for the transfer request, then telling you that the payment wasn't sent and will have to be made again.  When an attempt is then made, as instructed, to re-send the payment, you are locked out completely.

That happened time and again until I reorganised to avoid Santander as much as I could.  I thought they might have sorted themselves out by now and started using them again, but apparently not. Never assume any payment made through Santander of more than a few pounds will be sent. Blocked payments don't show in pending.

We all want our savings to be kept secure, but it needs to be done with a reasonable level of competence that Santander doesn't possess.

t33

I've been with Santander many years and not had a problem.  Recently transferred a large amount and as a habit always do it in £20k blocks no matter what banks are involved.  Perhaps as Dr Who and catplan above suggest it is the per transfer limit, which IIRC you are warned of, and you can simply change yourself within the online portal.  Good luck getting it sorted.

Rollinghome

t33 said:

I've been with Santander many years and not had a problem.  Recently transferred a large amount and as a habit always do it in £20k blocks no matter what banks are involved.  Perhaps as Dr Who and catplan above suggest it is the per transfer limit, which IIRC you are warned of, and you can simply change yourself within the online portal.  Good luck getting it sorted.

If that reply is to me, my transfer limit has been set to £25k ever since the adjustable limit was introduced.  I transferred £20k without problem the week before. The payment they did blocked was for just £10k and a previous payment to the same payee, me, had also gone through.

There has never seemed to be any rhyme or reason for triggering a block. 

I've had a Santander account since it was still using the Abbey National brand. They've never been the most reliable, including failing to make a CHAPS payment I'd paid for, (pre-FP) but their real problems started just a few years back.

All banks will sometimes delay or block payments, but from the many reports on this board it's clear that a disproportionate number of problems are with Santander.