Transferring money

11
Found 29th Sep 2017
Hi guys...

I hope you can help.

Does anyone know the cash limit for transferring money between a Lloyds bank account to a Nationwide Building Society account (both in the UK and 'normal' current accounts).
Also, would you know how long it would take in hours/day?

I know it's quite specific but I cant seem to find a definitive answer online.

Thanks in advance...
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I find my online Lloyds current account locks me out if I try to send > £25k by Faster Payments. If it goes through, a Faster Payments usually arrives within a couple of hours IME.
If you go into a Lloyds bank branch then the limit is 50K to transfer out but could be more if it is a city branch. Online is less.

I am assuming that you are talking about a FPS transfer which takes up to one working day could be sooner.

However, if you do a CHAPS transfer it will done on the same working day and there is no limit but it will cost you between £30 and £35.

Hope this helps.
Edited by: "sydney871" 29th Sep 2017
Lloyds payments limit is £25k per day. Faster payments will be there pretty much within a couple of hours
I presume you mean "faster payment " on line as there is obviously no limit if you arrange it by phone or in person at the branch . (although large amounts could take a day or two ) . How do you think people buy houses ?
Googling indicates daily BACS limit on lloyds is 25k. Will go pretty within minutes, but can take up to a few hours apparently. The few hours tend to happen if you do the payment in the evenings.
Thanks for your replies... I should have been more specific...

It wouldn't be an online transfer... In-Branch only so I suppose it wouldn't be a 'Fast Payment'

Cheers guys.
Even if it is in the branch you will be asked whether you want to make a faster payment or CHAPS. Works on the same principle as online except you will be allowed to transfer more. As people have said it will take hours but banks say you have to allow up to one working day.
Worth noting that if you are using the chaps system the payment can only go through mon-fri , chaps are not processed over weekends, however your bank may take the payment details for you and process it on your requested day.
Frenchmeister13 h, 52 m ago

Thanks for your replies... I should have been more specific...It wouldn't …Thanks for your replies... I should have been more specific...It wouldn't be an online transfer... In-Branch only so I suppose it wouldn't be a 'Fast Payment'Cheers guys.


i find in branch can take a few hours as some how it is slower than online. probably because it goes through a different system. but i am normally told, by the end of the day.
Apparently any transferred sum in excess of 10k can (CAN) be stored by the bank due to money laundering regs. Not likely, but if both parties call their own banks to explain what's going to happen it may help smooth the way. A good explanation here ...
'For any transactions in excess of £10,000, all financial institutions are required to satisfy themselves that the money hasn't come from a "dodgy" source, and they must report any suspicious activities and they may freeze the money whilst this is being done.
The chances are that this won't happen, but for the sake of a simple phonecall or letter, it may save a bit of hassle in the future.' (Copied from MSE article - not my own work).
mrty10 h, 23 m ago

Apparently any transferred sum in excess of 10k can (CAN) be stored by the …Apparently any transferred sum in excess of 10k can (CAN) be stored by the bank due to money laundering regs. Not likely, but if both parties call their own banks to explain what's going to happen it may help smooth the way. A good explanation here ...'For any transactions in excess of £10,000, all financial institutions are required to satisfy themselves that the money hasn't come from a "dodgy" source, and they must report any suspicious activities and they may freeze the money whilst this is being done.The chances are that this won't happen, but for the sake of a simple phonecall or letter, it may save a bit of hassle in the future.' (Copied from MSE article - not my own work).


for transfers over 10k, i notice that it can be delayed until the next day when i do this online. the bank reviews the transaction before they send it. but i have transferred around 50k before and it went instantly. the delay is from first direct bank, for natwest it went instantly.

i guess it depends on your transfer pattern. if you have transferred large amounts regularly then the system does not flag it up, but if you have not done it before, the system will probably put it on hold for the bank to review. it may also delayed because the system may want to assess if the account has been hacked, like they do for credit cards payments.

i closed my santander account because my account got locked and i had to bring ID into branch to unlock it when i made a transfer for £4k, as they said that was unusually large?????
Edited by: "mutley1" 1st Oct 2017
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