Nationwide limit to transfer

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  • wheelz
    wheelz Posts: 334
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    I sent 5 times £10.000 from Nationwide to First Direct ok. Got there instantly. No checks :j Thanks everyone. Next transaction is 45,000 from First Direct to another UK organisation that seems to be delayed somewhere for checks I guess as they normally send me an email quite quickly that they have received the money but they haven't as yet. Is it the receiving organisation that checks or the sender?
  • badger09
    badger09 Posts: 11,128
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    wheelz wrote: »
    I sent 5 times £10.000 from Nationwide to First Direct ok. Got there instantly. No checks :j Thanks everyone. Next transaction is 45,000 from First Direct to another UK organisation that seems to be delayed somewhere for checks I guess as they normally send me an email quite quickly that they have received the money but they haven't as yet. Is it the receiving organisation that checks or the sender?

    If you've just sent 5 x £10k to First Direct & then immediately tried to send £45k elsewhere, I'm not at all surprised someone is checking. It will be First Direct's responsibility.
  • wheelz
    wheelz Posts: 334
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    It needs to go to Transferwise to be sent abroad (as want to move (back) to Europe and buy a house in my own country). As I would have to send it in small batches from nationwide cost free while other banks have a much higher limit I thought I'll use my new First Direct account. I'll see if I can send them a message to explain, that might help. I should have had the solicitor sending it to my FD account, but it was still all new hadn't used it much not even used the pin yet which I received this week. I didn't know about the Nationwide limit.
  • 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.
    If there happens to be a technical problem where it ends up not arriving that day, do you get any form of compensation for it?
    :o
  • jonnygee2
    jonnygee2 Posts: 2,086
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    I sent 5 times £10.000 from Nationwide to First Direct ok. Got there instantly. No checks Thanks everyone. Next transaction is 45,000 from First Direct to another UK organisation that seems to be delayed somewhere for checks I guess as they normally send me an email quite quickly that they have received the money but they haven't as yet. Is it the receiving organisation that checks or the sender?

    It could be either - both have a responsibility to prevent money laundering. But usually, it's the receiving bank. Just make sure you have clear paper trail of the origin of the funds handy.
  • wheelz
    wheelz Posts: 334
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    It was all transferred yesterday in the afternoon. Thanks everyone.
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