Mastercard Debit Card Transfer Declined

GeoffTF

Mbday said:

Just had same problem. Couldn’t transfer over £50k (having done 2 separate tranches of £25k) Told it was Mastercard limit (though this can vary depending on transaction).  I don’t see how a third party (Mastercard) which knows nothing about my finances, can block these transactions, when  Santander (which does know my financial situation) allows a daily transfer of up to £100k.  

That limit is for Faster Payments. As has been said, MasterCard has a daily limit of £50K, which applies to everyone.

retiredbanker1

GeoffTF said:

Mbday said:

Just had same problem. Couldn’t transfer over £50k (having done 2 separate tranches of £25k) Told it was Mastercard limit (though this can vary depending on transaction).  I don’t see how a third party (Mastercard) which knows nothing about my finances, can block these transactions, when  Santander (which does know my financial situation) allows a daily transfer of up to £100k.  

That limit is for Faster Payments. As has been said, MasterCard has a daily limit of £50K, which applies to everyone.

I don't think Mastercard has a daily limit per se.
They don't issue the cards - your bank does - and it is they who set their own daily limit.

dingbat58

Interesting! This issue between Mastercard and NS&I seems to be still ongoing, three years later!

We've been trying to make deposits from Royal Bank of Scotland to our NS&I Direct Savings account using the RBS-provided Mastercard debit card - and we're not talking about large deposits that would trigger a limit anywhere. Even £5 deposits have been failing.

RBS is adamant that there's no problem with their systems, and that the issue lies with NS&I declining the payments. However, I called NS&I today to find out the progress of my complaint (answer - after 5 weeks, still not allocated to anyone to investigate). But the customer service advisor did suggest that the problem might lie with the "card issuer" (eg Mastercard or Visa) and noth with the "card provider" (eg RBS). She told me she's experienced "many other cases" where payments were blocked by Mastercard, and that we should be contacting them.

I've referred this conversation back to the RBS, and hope they might be able to resolve it. They're responsive, unlike NS&I…..