TSB transfer limit?

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janeke
janeke Posts: 100 Forumite
in Budgeting & bank accounts
I have recently opened a TSB current account which is taking funds from my late father`s estate. When all of the money is in I will need to pay my brother £100,000+. What would be the best way to do this? He lives 100 miles away and I don`t want to post him a cheque.
I presume TSB has a daily limit for transfers but I can`t find it on the website
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  • PRAISETHESUN
    PRAISETHESUN Posts: 3,723 Forumite
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    You could send the money via a CHAPS payment if you need to guarantee it will arrive the same working day, or otherwise split it into several smaller faster payments that will bring each individual transfer under the payment limit per transaction. Multiple duplicate transactions may get flagged as suspicious, so it may be worthwhile contacting them ahead of time just to let them know
  • 18cc
    18cc Posts: 2,120 Forumite
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    I had to do this a couple of years ago and for many reasons I simply wrote a cheque and posted it to the beneficiary
  • broju
    broju Posts: 45 Forumite
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    Give them a call and say you'd like to do one (or two) large FP's and supply the details. You may need to speak to their anti fraud department.
    I have found them very accommodating on such occasions.
  • glennevis
    glennevis Posts: 642 Forumite
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    Last time I asked TSB (a year ago) their BACS transfer limit was £25k per day.
  • xylophone
    xylophone Posts: 44,422 Forumite
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    Why not just send a cheque "special delivery"?
  • Thefrenchman
    Thefrenchman Posts: 16 Forumite
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    I want to send 30k to another account I hold with RBS. Contacted TSB Twitter team to check,but they won't confirm a figure....not happy.
  • Uxb1
    Uxb1 Posts: 732 Forumite
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    I've found solicitors are going back to cheques for very large sums like the OP is talking about.
    Unlike a CHAPS transfers, cheques are free.
    Then there is less worry about getting the numbers right on a transfer both from a point of view of entering them up at the sending end correctly and of checking and getting the right figures to enter off the destination account holder - and for this most solicitors would require an original of a bank statement.
    Far easier to write a cheque......

    PS Edit
    Do not forget to include with the cheque an acknowledgment slip to be signed and returned by the recipient stating they have received the money.
  • Thefrenchman
    Thefrenchman Posts: 16 Forumite
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    Uxb1 wrote: »
    I've found solicitors are going back to cheques for very large sums like the OP is talking about.
    Unlike a CHAPS transfers, cheques are free.
    Then there is less worry about getting the numbers right on a transfer both from a point of view of entering them up at the sending end correctly and of checking and getting the right figures to enter off the destination account holder - and for this most solicitors would require an original of a bank statement.
    Far easier to write a cheque......

    PS Edit
    Do not forget to include with the cheque an acknowledgment slip to be signed and returned by the recipient stating they have received the money.
    I need the money to go quickly,the fact it's going from my account held in one Government owned bank to another you'd have though would be seamless...
  • northwalesd
    northwalesd Posts: 1,168 Forumite
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    Thefrenchman wrote: »
    I need the money to go quickly,the fact it's going from my account held in one Government owned bank to another you'd have though would be seamless...

    TSB isn't government owned.
  • colsten
    colsten Posts: 17,597 Forumite
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    Thefrenchman wrote: »
    I need the money to go quickly,the fact it's going from my account held in one Government owned bank to another you'd have though would be seamless...
    Just use CHAPS then, and pay the £30 for the privilege of having the transfer completed on the same day (provided you request it before the daily CHAPS deadline).
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