Nationwide limit to transfer

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wheelz
wheelz Posts: 334 Forumite
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in Budgeting & bank accounts
I have proceeds from a house sale that I want to move to another UK account. There is a £10,000 limit to a single payment to another UK account (faster payments) with Nationwide. I have sent them a message. Can you do more than one transfer per day? And to different people does that make a difference?

I've recently joined First Direct and they have a £30,000 limit. Much better. If you want any amount over £10,000 to be transferred immediately you need to use CHAPS which costs £20 with Nationwide. I've always been very happy with them but this is a downside.
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  • wmb194
    wmb194 Posts: 3,330 Forumite
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    Write a cheque.
  • noh
    noh Posts: 5,799 Forumite
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    edited 14 September 2018 at 8:10AM
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    When we moved two years ago I did six seperate 10k faster payments in one day from Nationwide to my solicitors account.
    Using a cheque as suggested above would be easier.
  • billn
    billn Posts: 318 Forumite
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    Yes you can do multiple transfers in one day, I transfered 6 x £10,000 to the same account within 10 minutes without a problem earlier this year.
    If at first you don't succeed, sky diving is not for you!
  • colsten
    colsten Posts: 17,597 Forumite
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    noh wrote: »
    Using a cheque as suggested above would be easier.
    Only if you / the recipient can wait for the cheque to clear.
  • agrinnall
    agrinnall Posts: 23,344 Forumite
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    noh wrote: »
    Using a cheque as suggested above would be easier.


    Really? It might take a couple of minutes to do several transfers, compared to the time required to find the chequebook, write the cheques, address and stamp as many envelopes as needed, walk to the nearest postbox and back, wait for the box to be emptied and the envelopes delivered to the addressees, who then have to get to their branch of choice, pay in the cheque, and go through 2-4-6 clearing. You tell me which is easier, I know which I'd do.
  • PRAISETHESUN
    PRAISETHESUN Posts: 3,723 Forumite
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    The limit is usually only per transaction, but some banks might impose a total daily transaction limit as well.

    If you definitely need to make it happen that day, send it by CHAPS. There is usually a fee for doing this, but the limits are much higher and the money is guaranteed to arrive that day.
  • soulsaver
    soulsaver Posts: 5,976 Forumite
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    FYI: FD's on line limit is £50k per transaction. I recently sent £80k in 2 FP transactions same day.
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  • soulsaver
    soulsaver Posts: 5,976 Forumite
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    You can do multiple £10K transactions with NW, but watch out for them being held for security checks.
    Top Easy Access acs Ranked by rate: Top of The Pots - **No Chat** — MoneySavingExpert Forum
  • Ballard
    Ballard Posts: 2,850 Forumite
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    PRAISETHESUN wrote: »
    The limit is usually only per transaction, but some banks might impose a total daily transaction limit as well.

    If you definitely need to make it happen that day, send it by CHAPS. There is usually a fee for doing this, but the limits are much higher and the money is guaranteed to arrive that day.

    ...subject to fraud/aml checks.
    I hate verisimilitude.
  • 18cc
    18cc Posts: 2,120 Forumite
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    Yes you may got stopped for 4 checked and in any case make double sure you get the sort code and account number right before doing multiple 10K payments!
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