Faster Payments Experiences

bolo

I have noticed that Lloyds TSB have removed theFP facility from the internet at the moment. Thats a real shame it was really useful!

lulu999

Does anyone know what the transaction and daily limits for Faster Payments Service are for the various institutions?

Barclays are £10,000 per transaction and £30,000 daily.
HSBC are £10,000 and £10,000 (discovered this irritation the hard way)

I'm particularily interested in NatWest but their website and staff haven't a bloody clue.

chris1

lulu999 wrote: »

Does anyone know what the transaction and daily limits for Faster Payments Service are for the various institutions?

Barclays are £10,000 per transaction and £30,000 daily.
HSBC are £10,000 and £10,000 (discovered this irritation the hard way)

I'm particularily interested in NatWest but their website and staff haven't a bloody clue.

The overall maximum for any faster payment is £10,000, though as you say some have a lower limit. It may also depend on whether you're doing it online or by phone - the Barclays website for example says here that "the overall daily payment limit to third parties in online banking is currently set at £10,000" - no mention of £30,000 as a daily limit. At least it's an improvement from the original £1,000!

lulu999

£30,000 paid to a third party account with a different bank in 3 lots of £10,000, from personal experience.

Few possibilities,
1. Website out of date
2. Different limits for customers/accounts
3. Plain duff information
4. Managed to override their system!

KingL

lulu999 wrote: »

Does anyone know what the transaction and daily limits for Faster Payments Service are for the various institutions?

Barclays are £10,000 per transaction and £30,000 daily.
HSBC are £10,000 and £10,000 (discovered this irritation the hard way)

I'm particularily interested in NatWest but their website and staff haven't a bloody clue.

I have recently been through this with HSBC:

For regular (not FP), it's £10k limit per transaction & day 'pushing' out from HSBC using internet or phone. They will do more (?limitless) if you take photo id to a branch.

However you can "pull" a larger amount than £10k from HSBC to another bank using DD initiated from the other bank. There is no pre-set limit on the amount for this. Apparently, if seems uncharacteristic of your usual behaviour, systems will raise a flag to a human being. If the human being thinks it looks dodgy, they will phone you to check it's OK before paying out against it.

Didn't ask about FP. I had a few thousand go from HSBC to BM in about an hour this week. HTH

Viper_7

Amazing how many people say it takes several hours when 99.9% are performed in seconds.

whu

Whenever a FP has gone through for me it has taken seconds even though the ban says it could take upto 2 hours

Doomcow

dont you get faster payments between hbos and IF (hbos innit?)

like, ie, i dont see the smoothness in the process between me having to set upa transfer on a sunday which would only be accepted and go through on a tuesday and then arrive in the acct on friday.

frustrating, yes - ok i realise folk work and stuff, but still, isnt it all automated?

will1281

Ive just opened a Premier Direct Current Account with Alliance and Leicister. I transfered £250 from it to my HSBC account yesterday. It still hasnt arrived.

I called up A&L today, and was told that faster payments only works for payments up to £50.

Payments over £50 will take 3 working days.

Can anyone tell me whether this is right?

xplora

will1281 wrote: »

Ive just opened a Premier Direct Current Account with Alliance and Leicister. I transfered £250 from it to my HSBC account yesterday. It still hasnt arrived.

I called up A&L today, and was told that faster payments only works for payments up to £50.

Payments over £50 will take 3 working days.

Can anyone tell me whether this is right?

NO! I transferred £5,000 from HSBC to Halifax and it arrived instantly! Unless A&L has different policy about this