Banks constantly stopping payments - arghhhh!
Discussion
I have had a nightmare moving money about after selling a few assets. NW bank limits max transfer to 25k to say an external ISA so you have to make multiple transactions over several days for eg. Now paying for stuff another bank seems to halt any payments over £5k. Had to sit and wait for 2hrs the other day as they refused to pay a camera seller - faster payments are not that.
I get the security element but limiting your access and baulking payments is such a terrible 'solution'. I'm leaving Nationwide after 25 years due to it - they don't even do extra security they just stop you accessing your own money with daily limits.
Is there any solution other than CASH - buying lad a car tomorr for £5k and dreading the payment outcome and have tried to pre empt by telling them and making the £100 deposit via them. I remember the 3 hours it took HSBC to authorise a payment for a car I was selling too - he was on teh phone for an hour.
I get the security element but limiting your access and baulking payments is such a terrible 'solution'. I'm leaving Nationwide after 25 years due to it - they don't even do extra security they just stop you accessing your own money with daily limits.
Is there any solution other than CASH - buying lad a car tomorr for £5k and dreading the payment outcome and have tried to pre empt by telling them and making the £100 deposit via them. I remember the 3 hours it took HSBC to authorise a payment for a car I was selling too - he was on teh phone for an hour.
Pay for the car using debit card?
Some banks will set higher limits for transfers but expect things will, in general, be subject to delay if sending to a new beneficiary. With the new rules around bank reimbursement for scams (even where the victim actively sent the money themselves) it’s likely to be a more frequent occurrence.
Don’t do the “test payment” thing someone is bound to suggest.
Some banks will set higher limits for transfers but expect things will, in general, be subject to delay if sending to a new beneficiary. With the new rules around bank reimbursement for scams (even where the victim actively sent the money themselves) it’s likely to be a more frequent occurrence.
Don’t do the “test payment” thing someone is bound to suggest.
Barclays aren't too bad at this.
If a large debit card transaction triggers a security alert so gets declined, I usually get a text within 30 seconds asking if the transaction was me or not and to reply YES to their text if i want it approved. Present the card again and it goes straight through. Happened a couple of times now but I think it only works upto £25k above this and I think they ask you to do a bank transfer instead....not sure about this bit, I may have it wrong.
Doing bank transfers through the app is also limited to a new payee so the bank have told me to do an earlier transfer to this person the day before, maybe £100 and then when you do the bigger balance the following day they are no longer picked up as a NEW payee and security allow a much larger amount to be processed before a declined transaction happens.
All that said I still think they cap things to about £30k per transaction and anything larger I have had to go into the branch to do it and then this peed me off....they insisted I pay an amount via Chaps and pay them the subsequent fee for the privilege
I think the newer faster payments system helps with some larger transactions but not all banks have signed up for it.
If a large debit card transaction triggers a security alert so gets declined, I usually get a text within 30 seconds asking if the transaction was me or not and to reply YES to their text if i want it approved. Present the card again and it goes straight through. Happened a couple of times now but I think it only works upto £25k above this and I think they ask you to do a bank transfer instead....not sure about this bit, I may have it wrong.
Doing bank transfers through the app is also limited to a new payee so the bank have told me to do an earlier transfer to this person the day before, maybe £100 and then when you do the bigger balance the following day they are no longer picked up as a NEW payee and security allow a much larger amount to be processed before a declined transaction happens.
All that said I still think they cap things to about £30k per transaction and anything larger I have had to go into the branch to do it and then this peed me off....they insisted I pay an amount via Chaps and pay them the subsequent fee for the privilege
I think the newer faster payments system helps with some larger transactions but not all banks have signed up for it.
Longy00000 said:
All that said I still think they cap things to about £30k per transaction and anything larger I have had to go into the branch to do it and then this peed me off....they insisted I pay an amount via Chaps and pay them the subsequent fee for the privilege
I think the newer faster payments system helps with some larger transactions but not all banks have signed up for it.
All major banks are signed up to it, but they can cap the limits they give customers. Partly for their own protection and partly, I suspect, due to CHAPS fee revenue. I think the newer faster payments system helps with some larger transactions but not all banks have signed up for it.
Longy00000 said:
Barclays aren't too bad at this.
If a large debit card transaction triggers a security alert so gets declined, I usually get a text within 30 seconds asking if the transaction was me or not and to reply YES to their text if i want it approved. Present the card again and it goes straight through. Happened a couple of times now but I think it only works upto £25k above this and I think they ask you to do a bank transfer instead....not sure about this bit, I may have it wrong.
Doing bank transfers through the app is also limited to a new payee so the bank have told me to do an earlier transfer to this person the day before, maybe £100 and then when you do the bigger balance the following day they are no longer picked up as a NEW payee and security allow a much larger amount to be processed before a declined transaction happens.
All that said I still think they cap things to about £30k per transaction and anything larger I have had to go into the branch to do it and then this peed me off....they insisted I pay an amount via Chaps and pay them the subsequent fee for the privilege
I think the newer faster payments system helps with some larger transactions but not all banks have signed up for it.
Premier is 50k per transaction from desktop, 25k from appIf a large debit card transaction triggers a security alert so gets declined, I usually get a text within 30 seconds asking if the transaction was me or not and to reply YES to their text if i want it approved. Present the card again and it goes straight through. Happened a couple of times now but I think it only works upto £25k above this and I think they ask you to do a bank transfer instead....not sure about this bit, I may have it wrong.
Doing bank transfers through the app is also limited to a new payee so the bank have told me to do an earlier transfer to this person the day before, maybe £100 and then when you do the bigger balance the following day they are no longer picked up as a NEW payee and security allow a much larger amount to be processed before a declined transaction happens.
All that said I still think they cap things to about £30k per transaction and anything larger I have had to go into the branch to do it and then this peed me off....they insisted I pay an amount via Chaps and pay them the subsequent fee for the privilege
I think the newer faster payments system helps with some larger transactions but not all banks have signed up for it.
LooneyTunes said:
All major banks are signed up to it, but they can cap the limits they give customers. Partly for their own protection and partly, I suspect, due to CHAPS fee revenue.
It's getting worse, the banks are increasing checks and restrictions and all that, because they are shelling out a lot of compo for fraud.I think the best idea is either to persuade sellers to take credit/debit cards, or to use telephone banking.
In theory, I have telephone banking, but the reality is that I've not succeeded in using it for about 10 years without a lot of hassle, as I only buy a car or a boat or something for four figure sums every few years.
I'd suggest (memo to self!!) getting one's act together with phone banking passwords, security questions and whatever other nonsense, BEFORE trying to buy a car.
In contrast, moving six figure sums for a house purchase seemed scarily simple.
paralla said:
My bank, First Direct is also terrible for this.
I’ve figured out that they have a £20K daily limit when using the mobile app but it’s £30K when you use a web browser which can help sometimes.
They still block payments regularly though.
First Direct £30K via the app and £40K via web browser now I’ve figured out that they have a £20K daily limit when using the mobile app but it’s £30K when you use a web browser which can help sometimes.
They still block payments regularly though.
That text to confirm approach works and is fair enough. A credit card company did it to me in Spain recently to check the hire car deposit was legit - 30" delay (had barely even got started funimg
). Just saying NO like Nationwide do is so not on - blocking you from your own money. And no I don't want to pay you a £30 CHAPS fee to access my own funds. How do they justify it - is it an immediate manual check?
). Just saying NO like Nationwide do is so not on - blocking you from your own money. And no I don't want to pay you a £30 CHAPS fee to access my own funds. How do they justify it - is it an immediate manual check?Gassing Station | Finance | Top of Page | What's New | My Stuff