Moving large amounts of cash

phoebe03cat

We have finally had a bit of a windfall through inheritance and received a very nice cheque which we had to clear through our c/a at Lloyds. At present its in the online saver. Its destined for a mixed portfolio via our long standing ind. financial advisor. While the estate is finally tied up we want to move it from Lloyds to Kaupthing edge/ coventry over 50's.to join our stooze pots. Have just talked to Lloyds who said they/we can only move £10000 per day (first day Mon) through bacs.This is not a problem I have any experience with! Does anyone know any other (free) way to get the money out pls?

tradetime

If you use accounts such as Icesave and ICICI, am suspecting Kaupthing may be the same they use DD from your linked account, so the limit does not apply the two I mentioned simply DD the amount specified.

[Deleted User]

tradetime wrote: »

am suspecting Kaupthing may be the same they use DD from your linked account

Kaupthing Edge are BACS only...

KeithEssex_2

phoebe03cat wrote: »

We have finally had a bit of a windfall through inheritance and received a very nice cheque which we had to clear through our c/a at Lloyds. At present its in the online saver. Its destined for a mixed portfolio via our long standing ind. financial advisor. While the estate is finally tied up we want to move it from Lloyds to Kaupthing edge/ coventry over 50's.to join our stooze pots. Have just talked to Lloyds who said they/we can only move £10000 per day (first day Mon) through bacs.This is not a problem I have any experience with! Does anyone know any other (free) way to get the money out pls?

Any savings account without a Direct Debit facility (e.g. Kaupthing Edge) will need to be made via a series of daily payments.

Remember to try and reduce your credit exposure by keeping under £35k in each institution.

N.B. Sometimes in the case of bond repayments the cost of the Chaps payment (approx. £35) is less than the lost interest.