Paying the mortage off

a_cro

Luckily we are able to pay off to mortage, and I have now a date and a redemption letter to do so.
Since the amount is > 100k and it's currently on multiple bank accounts, I wonder what's the best way to do it.

The HSBC guy on the phone said that in theory I can also pay from different accounts, as long as it's all the same day it should be fine, does that work?
Otherwise I have to transfer everything into the same account first and then do the transfer, but maybe then I end up with limits, santander says it's 100k the daily limit for example, so it might not work
How have you guys done that before?

Uriziel

Limits can be removed by simply contacting the bank and asking them to increase it.

Brie

Uriziel said:

Limits can be removed by simply contacting the bank and asking them to increase it.

Given the large amount(s) involved the bank(s) may want to have a strong assurance that you are not being defrauded.  So offering to provide a copy of the redemption offer might made things easier.

a_cro

Ok I can contact the bank, I still have 3 weeks so plenty of time.
So doing different transactions from different bank accounts is not recommended then?
If the amount is exactly the same it should not matter in theory but maybe it's safer to do a single transaction

GrumpyDil

I had similar a few weeks back where the amount exceeded the daily limit. Had to complete the transaction on the phone and speak to the bank's fraud department to make sure I was not being coerced and knew where the money was going to. I'd ring in advance to let them know and checking they are likely to need any additional information.

a_cro

I just chatted with santander (probably a bot), and it told me that I have to use Santander Edge or do a CHAPS payment if it's above 100k.
I can try to call them as well maybe just in case, otherwise I can also try with Starling or Monzo if it's easier.