Bank that lets you transfer more than 25k/day online

[venusi]

I'm looking for experience of a bank that lets you transfer more than 25k a day electronically that I can use to manage investments.

In my own limited experience (Lloyds, TSB, Halifax) I can only do it via Faster Payments (up to 250k which is fine) by going into a branch which is no good for me.
Has anyone come across a High St bank where online or mobile banking transactions can go over 25k? I don't want to be drip feeding 25k slugs in over a number of days.

How do the likes of Monzo and other online-only banks handle large payments out of your account?

Thanks

[btdk5]

Barclays premier is £100k online I believe.

[WillB]

1st Direct is £49,999 max online and £30,000 via the app for faster payments. Branch banking services available at HSBC branches if required.

Customer service is excellent

If you need higher than £50k, Barclays Premier and similar offerings from the other main banks are available.

[venusi]

Thanks, but would Barclays Premier (and similar others) not require me to leave (100K?) of savings with them or invest it through them? I don't want to be tied down in what I invest in and won't meet the income criteria for a Premier account

[Jonathan27]

Do you often need to move more than £25K? If not then I doubt that the hassle of moving banks would be worth it. If you do, then you also likely qualify for Premier banking with most banks.

[Simpo Two]

WillB said:

1st Direct is £49,999 max online and £30,000 via the app for faster payments.

You can also - gasp - actually telephone them with your smart mobile telephonical apparatus and talk to another human bean. Think of it as interactive streaming realtime voicemail.

[targarama]

venusi said:

Thanks, but would Barclays Premier (and similar others) not require me to leave (100K?) of savings with them or invest it through them? I don't want to be tied down in what I invest in and won't meet the income criteria for a Premier account

Nope. Just means you are a higher earner type worthy of their attention.

I believe the limit is higher for the desktop app vs the mobile app. Otherwise you can ring them and they do it while you talk.

[biggiles]

How often do you need to move such large amounts, and more importantly, where from? I'm guessing it's from a house sale and is currently in a savings account / NS&I.

You can go into a branch and do a transfer of almost any size in person (over £1m). But as most of these banks will give derisory interest, you may as well just keep a decent amount of money with your investment provider as cash, or in a basic tracker? Or have several accounts.

[venusi]

I'm not sure how often I'll need to move sums around but to start with I want to transfer c200k to a couple of 1 year fixed rate savings accounts and really want to avoid doing it over a number of days via 25k chunks.

You're right in that this follows a house sale, I've liquidated a BTL and now want to set up a new transactional account to allow money to flow freely to alternative investments as and when I choose to get in and out of them (mostly equities I imagine but I wouldn't rule out keeping more in cash if interest rates rise). I don't want to put it all in a sharedealing account earning nothing while I wait for opportunities.

[btdk5]

venusi said:

Thanks, but would Barclays Premier (and similar others) not require me to leave (100K?) of savings with them or invest it through them? I don't want to be tied down in what I invest in and won't meet the income criteria for a Premier account

You can open an account with them in 10mins purely online.

I haven’t ever kept the minimum requirement with them and no one has said anything.