Nat west debit card limit for NS&I!

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  • nilrem_2
    nilrem_2 Posts: 2,188 Forumite
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    Natwest told me it was for my benefit to help avoid fraud, I understand that but surely they should have some way to modify the set amount if they have authorised instruction from the customer.
    For example last week I transferred an amount to my new Sainsburys saving account (online transfer not debit card) which they blocked but then phoned me, after giving confirmation and giving the correct info they authorised the amount there and then. Why can they not do that for a debit card, Surely it's little different than a bank transfer?
  • NotSkint
    NotSkint Posts: 74 Forumite
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    RG2015 wrote: »
    Does anyone know if this restriction applies to all customers?

    I used my Santander debit card when I bought my NS&I bonds as I limit amounts held in my 0% NatWest account.

    Ok, have trawled back through my Natwest account and in 2014 I certainly was able to transfer 8k to HL via debit card without any issue.
    So they have either changed their rules, or the 2k limit isn't standard.
  • Andystriker
    Andystriker Posts: 590 Forumite
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    Well I purchased £25,000 worth of Guaranteed Growth Bonds on Thursday last week 14th December, and paid with my Nat West VISA Debit card. I had no issues at all and it went through fine first time. The only thing I had to do was confirm the transaction by entering a code that they sent me by text.

    I would be putting a official complaint into Nat West in your situation.
  • nilrem_2
    nilrem_2 Posts: 2,188 Forumite
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    RG2015 wrote: »
    Does anyone know if this restriction applies to all customers?

    I used my Santander debit card when I bought my NS&I bonds as I limit amounts held in my 0% NatWest account.

    I made 2 phone calls to Natwest today, the first was when NS&I said my payment was declined, I phoned Natwest they assured me that I had the funds and that there was no reason it would not go through. I told them the amount and they confirmed that the money was in the account to transfer and should not cause any problem.

    I left it for an hour or so then tried NS&I again twice and each time my card was declined.

    On phoning Natwest a second time they informed me of the £2000 limit was in place for payment to Financial institutions, I was told there is no way around it other than to make a complaint which I have done but it will take up to 10days for them to reply!

    Why can I use a cheque to pay a large amount but not a debit card? Is a cheque safer or something?
  • nilrem_2
    nilrem_2 Posts: 2,188 Forumite
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    Andystriker wrote: »
    Well I purchased £25,000 worth of Guaranteed Growth Bonds on Thursday last week 14th December, and paid with my Nat West VISA Debit card. I had no issues at all and it went through fine first time. The only thing I had to do was confirm the transaction by entering a code that they sent me by text.

    I would be putting a official complaint into Nat West in your situation.

    I have done so but your comment is really interesting, I was given no option to have a code by text or anything else.
  • nilrem_2
    nilrem_2 Posts: 2,188 Forumite
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    Andystriker wrote: »
    Well I purchased £25,000 worth of Guaranteed Growth Bonds on Thursday last week 14th December, and paid with my Nat West VISA Debit card. I had no issues at all and it went through fine first time. The only thing I had to do was confirm the transaction by entering a code that they sent me by text.

    Was that via the card reader?
  • Andystriker
    Andystriker Posts: 590 Forumite
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    nilrem wrote: »
    Was that via the card reader?

    It came up on the computer screen when I entered my debit card number.

    It said

    "Verified by VISA

    Just one more thing we need to check...we need to send you a secure code just to check it's you. Please choose the phone number you'd like to receive your code to (your code will expire after 8 minutes)"

    Then

    "We've sent your code"

    Then they sent me a text with 6 numerical digits that I entered onto the computer screen and the payment went through instantly.

    I did not have to use my card reader.

    So this £2,000 limit that they have told you about is untrue.
  • nilrem_2
    nilrem_2 Posts: 2,188 Forumite
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    Here is an update.

    What Andy says above is correct I was given incorrect information this morning.

    I have just been on the phone again to Natwest and have been told that the £2000 limit is only if you try to pay a credit card with a debit card. The reason my card was declined was that the amount was too large but that if I tried £20k it should go through without any problem.

    So I will try again tomorrow.

    Thanks for all the help and advice.
  • AirlieBird
    AirlieBird Posts: 1,046 Forumite
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    nilrem wrote: »
    Here is an update.

    What Andy says above is correct I was given incorrect information this morning.

    I have just been on the phone again to Natwest and have been told that the £2000 limit is only if you try to pay a credit card with a debit card.

    That isn't the information on their website which suggest a payment of £10,000 is possible.
    https://supportcentre.natwest.com/Searchable/913250422/Why-has-my-debit-card-payment-to-my-credit-card-failed.htm
    Why has my debit card payment to my credit card failed?

    There are a number of reasons why a debit card payment to your credit card may fail.

    The maximum amount for a single payment is £10,000. If you attempt to exceed this limit, the payment will fail
    The maximum number of debit card payments is 5 per day. If you are attempting a 6th payment in any one day, the payment will fail
    Did you really mean to put loose?
    Lose: no longer possess, not to retain, unable to find
    Loose: not firmly or tightly fixed in place
  • sausage_time
    sausage_time Posts: 755 Ambassador
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    I had a £50k debit card transaction to NS&I from RBS declined. I moved the funds over to FD and that went through no problem.

    More info. My RBS card has a typo in my name, and I assumed that might be the problem. Typo? Really? Yes, the new card has already been reissued after the first typo, but came back with a different typo! I can only conclude that the name is entered manually instead of being picked up from account records. Previous cards have been OK. The name on the second is close enough for day to day usage, but given "the Bonds must be purchased using a personal debit card in the name of the proposed Bond holder" I concluded that this was the issue. Guess I should ask to have the card replaced again again again. But I wonder if the real issue the some arbitrary limit that NatWest/RBS impose?
    I’m a Forum Ambassador and I support the Forum Team on the Credit Cards and Budgeting & Bank Accounts boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
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