Debit card limit

[Simpo Two]

There's a limit on how much I can transfer in one go with my debit card, but the bank won't tell me what it is.

It seems odd this data is mine but I'm not allowed to see it. Man at bank says it's the same for everybody.

But with a credit card, we all know the limit. Why the difference?

[trickywoo]

Simpo Two said:

Man at bank says it's the same for everybody.

£10k is a pretty standard limit but I’ve done £50k to premium bonds before without an issue.

Where you are transferring to must have an effect.

[Dal3D]

It's not a limit as such, but there is a threshold at which more checks can be made slowing things up. About £8k IIRC. As long as you have funds in your account of course!

I bought my last car with my debit card north of £30k without issue. Well, they asked me to call them to check it was me but I welcomed that!

[2 sMoKiN bArReLs]

I too have bought my last two cars with debit cards. (Both well over £30k).

I did fail security first time...on my name!

[Mazinbrum]

Mine seems to be 5k.

[Heartworm]

When I paid for the Mustang not even a phone call from the bank, was rather shocked at that!

[TCX]

Change bank,done £50+k on one of mine with regular £20k+, security question but straight through after

[Simpo Two]

The task is to get about £29K to a car dealer.

I was going to do this in one hit after I'd got there and checked the car is good. My bank (First Direct) said £29K was over the limit but that I could ring them first and they'd open a one hour clearance window so there wouldn't be a delay with any checks.

However the dealer says 'we cannot take a debit card over £2k as the fees are over 2%, you can transfer £10k a day and the balance when on final day.'

So it would be 2x £10K bank transfer in advance, then £9K bank transfer on the day when I'm there. Does that sound reasonable? I'm a bit surprised by his fees.

[ctdctd]

He's probably exaggerating his debit card fees but every little helps!
You can check your banks faster payment limits here but expect a security check delay.
With some banks, this can be arduous - especially if it's a first transaction and you are not in the habit of doing large transfers.
https://www.fasterpayments.org.uk/about-us/persona...

[2 sMoKiN bArReLs]

Simpo Two said:

The task is to get about £29K to a car dealer.

I was going to do this in one hit after I'd got there and checked the car is good. My bank (First Direct) said £29K was over the limit but that I could ring them first and they'd open a one hour clearance window so there wouldn't be a delay with any checks.

However the dealer says 'we cannot take a debit card over £2k as the fees are over 2%, you can transfer £10k a day and the balance when on final day.'

So it would be 2x £10K bank transfer in advance, then £9K bank transfer on the day when I'm there. Does that sound reasonable? I'm a bit surprised by his fees.

I personally would not part with £1 in advance.

[Ham_and_Jam]

Tell him your happy to do a Chaps payment on the day so he doesn’t incur any fees in return for a full tank of fuel.

It will cost you about £20-30. It’s easy and you won’t have to spread the transfers over several days as the limits are much higher.

[LordFlathead]

Simpo Two said:

The task is to get about £29K to a car dealer.

I was going to do this in one hit after I'd got there and checked the car is good. My bank (First Direct) said £29K was over the limit but that I could ring them first and they'd open a one hour clearance window so there wouldn't be a delay with any checks.

However the dealer says 'we cannot take a debit card over £2k as the fees are over 2%, you can transfer £10k a day and the balance when on final day.'

So it would be 2x £10K bank transfer in advance, then £9K bank transfer on the day when I'm there. Does that sound reasonable? I'm a bit surprised by his fees.

I had similar issues with First Direct when balancing funds to and from other non-FD accounts. They kept interfering with my lifestyle transactions - cars and bikes! It's none of their God damned business what I spend my money on yet they seem to need to provide an opinion about it and delay transaction as much as possible. They appear to be an old school bank that seems deeply lost in the modern world.

I closed the accounts and opened up two with Starling. Transfers are instant and handled by the app and no need to speak to an 80 year old librarian that talks down to you on the telephone.

[MattS5]

Barclays premier account for me was £50k per transaction, with a max of 2 per day online.
Bizarre I could pay the same person twice, so why that wasn't allowed to be £100k I don't know.
They also allowed a further £50k payment over the phone with them.

[Simpo Two]

LordFlathead said:

They kept interfering with my lifestyle transactions - cars and bikes! It's none of their God damned business what I spend my money on yet they seem to need to provide an opinion about it and delay transaction as much as possible. They appear to be an old school bank that seems deeply lost in the modern world. ...no need to speak to an 80 year old librarian that talks down to you on the telephone.

That's a bit harsh on FD. I've never had that experience in 20+ years; the call handlers are polite and efficient and have never talked down to me. How good is your 'app' at answering questions?

The CHAPS idea is one I hadn't thought of. It would cost me money but keep the bulk of my money with me until the day. Not sure why the dealer would want to give me a tank of petrol for it though, as neither bank transfer or CHAPS will cost him anything.

Edited by Simpo Two on Tuesday 12th October 21:18

[Simpo Two]

anonymous said:

[redacted]

I think I thought a debit card was just a quick way to do a bank transfer. Seems not. That's how I ended up proposing the former and he proposed the 3x payments, which I agreed to before other options came in here.

As he's getting me a new piece of flame mahoghany made and fitted, and various other bits, I don't really want to change what I've already said.

[Spidersleg]

Can you use your phone to make the payment ? I'm sure I've read there is no limit there and you could buy a house with your phone ?

[Chris Type R]

trickywoo said:

Simpo Two said:

Man at bank says it's the same for everybody.

£10k is a pretty standard limit but I’ve done £50k to premium bonds before without an issue.

Where you are transferring to must have an effect.

I've not had issues transferring to HMRC (well above £10k). Tried paying something a few weeks ago, and it was picked up by the fraud team - and it was a right PITA to deal with & clear payment.

[Simpo Two]

Spidersleg said:

Can you use your phone to make the payment ? I'm sure I've read there is no limit there and you could buy a house with your phone ?

That's the same a 'doing it over the internet' which is the same, I think, as 'bank transfer', no?

Anyway, my phone is not smart enough to do that and I'm not buying a new one specially.

anonymous said:

[redacted]

It would be easy for me, but he says card payments cost him 2%, and if the limit is £10K it will take three transactions (whether they can be consecutive or per day I don't know). Hence he's asked for 3 bank transfers - today, tomorrow and on collection.

The man at FD should have said I can just phone up on the day and get the whole sum paid (no card) - that works as I've done it with investments - but the debate got bogged down with talk of debit cards...

[alistair1234]

Stick £1k on a credit card so you get some protection from them.

[Simpo Two]

anonymous said:

[redacted]

So could I pay the full amount by debit card in his office (ie customer is present) and he wouldn't incur a fee?

I'm just lining him up for the full amount arranged by phone call, though the bank say it might take up to two hours. Is it instant with debit card? It seemed to be when I bought my last car four years ago.