Bank transfer

theone8181 · 22 Aug 2018 at 18:44

So I've got my eye on some alloys for 900 quid. The guy would prefer a bank transfer (which I'm fine with, and won't do unless I'm happy with the wheels). I'm with samtander, does anyone know if there's a limit on payment for someone if it's the first time you've paid them? I had a look on their website and couldn't see anything useful.

Freakbro · 22 Aug 2018 at 18:47

Nope, not on Santander iirc

Lloyds has a £1,000 limit in the first hour of setting up a new payee, but I don't remember anything like that on Santander, and I have an account with both.

chaparral · 22 Aug 2018 at 18:51

Freakbro said:
Lloyds has a £1,000 limit in the first hour of setting up a new payee, but I don't remember anything like that on Santander, and I have an account with both.

Strange as I had no problem transferring 24k to a new payee i setup through Lloyds when I bought my car

Rannoch · 22 Aug 2018 at 18:53

It will be fine.

Hades · 22 Aug 2018 at 19:49

I had an issue with a payment to me a few days ago. I called lloyds about it asking whether there was a limit on the amount possible with a Faster Payment and they confirmed the limit was £25k.

theone8181 · 23 Aug 2018 at 07:30

Ok cheers. I'm assuming thats using the phone app?

R.C.Anderson · 23 Aug 2018 at 12:18

Will depend on the bank, not sure about santander, but I'm with Natwest, and there's a limit (£250 I think) for a new payee added via the app (doesn't require card reader), but I'm not aware of a limit if you set the payee up via online banking, using the card reader.