maximum switch payment

[andye30m3]

does anyone know if there's a maximum payment you can make on a switch card?

My mortgage provider said it's fine to make a large switch payment but hsbc want me to do it using chaps and will kindly charge £25 for making the payment.

[V8mate]

People usually use CHAPS pyments where the payment has to be timely, e.g. on a timetable of transfer or execution of legal documents. CHAPS transfers are fully completed within a hour or so.

Switch payments turn up at all kind of funny times!

Edited by V8mate on Thursday 25th September 15:59

[Kiltie]

My understanding is that the limit is set between the bank and the vendor.

I paid for my Exige with switch (or rather Maestro) issued by HSBC.

The max the dealer could accept was £30k so I had to do it in two transactions - the second one being for the balance.

Obviously, this was all discussed with HSBC beforehand such that they were expecting the tranaction that afternoon.

Cheers,

Eric

[Famous Graham]

Paid for my old S2000 with Switch in the dealership with no problems.

[Munter]

The maximum I have done was ~£8000. For a car. I dont know if there is an actual max. Obviously Switch is limited by your available funds....

[anonymous-user]

No maximum, all that happens is you or the retailer will end up on the phone to their call centre for 45 minutes whilst they ask you questions that could be answered by anyone with access to the electoral roll and a copy of your bank statement.

[Coco H]

I failed to pay for the e-type on switch - just because it was an unusual transaction amount

[jesta1865]

as i understand it, if you have the money in your account you can pay it out. a bit like a bankers draft in plastic.

individual banks may have some limits though for particular cards.

[pdV6]

Indeed. Think I did about £11k once time on a car purchase. Couple of minutes on the phone the day before to warn them it was coming and that was it.

[Yugguy]

Not sure there is one, a few years back I paid 11k in one go for a car, scarily easy!

[svm]

I bought a van (~£12k) with a switch card a couple of years ago.

The transaction was immediatly flagged, involving a phone call from the bank. Once they were satisfied that it was a valid purchase, it went straight through.

I'm not sure if there's any limits, but I'm assuming your not buying a 4 bed house with it?

[mitzy]

Tell your bank beforehand.

But it works on PA positive authorisation, between the major banks it checks your available balance. Limits on cards for cash machines are set at around £200.00 a day .

[Thorny]

I think the max without prior authorisation is £10k for HSBC. f you want to do more, just phone them up beforehand and let them know.

[merc_man]

15K for a car. Didn't warn them beforehand so had to do the usual thing with talking to the bank on the phone during the authorisation process.

[sleep envy]

£40k on a car, phoned bank up beforehand to let them know the details to stop them blocking it

[Yugguy]

svm said:

I bought a van (~£12k) with a switch card a couple of years ago.

The transaction was immediatly flagged, involving a phone call from the bank. Once they were satisfied that it was a valid purchase, it went straight through.

I'm not sure if there's any limits, but I'm assuming your not buying a 4 bed house with it?

Heh, my bank at the time, Abbey, didn't even bat an eyelid.

[Famous Graham]

Yugguy said:

svm said:

I bought a van (~£12k) with a switch card a couple of years ago.

The transaction was immediatly flagged, involving a phone call from the bank. Once they were satisfied that it was a valid purchase, it went straight through.

I'm not sure if there's any limits, but I'm assuming your not buying a 4 bed house with it?

Heh, my bank at the time, Abbey, didn't even bat an eyelid.

Me either - HSBC. Well, that's not quite true. It went through fine at the dealer and I drove off. Then I went to fill up with petrol and the card was blocked Think I've ranted about that one before though

[Don]

sleep envy said:

£40k on a car, phoned bank up beforehand to let them know the details to stop them blocking it

£48K. Did the same.

[sleep envy]

Don said:

sleep envy said:

£40k on a car, phoned bank up beforehand to let them know the details to stop them blocking it

£48K. Did the same.

I see the way this is going

[andye30m3]

I need to pay £89k so it a bit unusual

Would rather not pay the £25 charge for chaps if I don't have to. They rang me about something else and I mentioned it, I might give them a call to see what they can do.