Faster Payments Value Limits
All UK banks and building societies now send and receive faster payments.
There are, however, varying limits in place depending on who you bank with and how you choose to send the money. These value limits for members of the Faster Payments Scheme, listed below, apply to each individual transaction. In addition to these ‘per transaction’ value limits, most types of account have a daily limit on the total amount you can send from your bank, whatever payment system is used. You should contact them in advance to check what this may be, if you are planning to send large-value amounts which may exceed any daily limits your bank has set.
What are the transaction limits for online or phone payments using Faster Payments?:
Bank |
Availability |
Value Limit |
|
Barclays |
Yes, phone and internet |
Retail customers-£10,000 Corporate customers-£100,000 |
|
Citibank |
Yes, phone and internet |
Corporate customers: £100,000 |
|
Clydesdale (including Yorkshire Bank) |
Yes, phone and internet |
Retail customers (Personal) - £5,000* Retail customers (Business) - £10,000* Business Online customers- £100,000 |
|
Co-operative |
Yes, phone and internet |
£100,000 |
|
Danske (Northern Bank) |
Yes, phone and internet |
Personal Customers who send their payments via eBanking - £50,000 |
|
HSBC |
Yes, phone and internet |
Retail customers £10,000 Corporate and FI customers£100,000 |
|
Lloyds Banking Group (Lloyds TSB, Halifax and Bank of Scotland) |
Yes, internet and phone |
Retail customers £25,000* |
|
Nationwide |
Yes, phone and internet |
£10,000 |
|
Royal Bank of Scotland (including Natwest & Ulster Bank) |
Yes, phone and internet |
Retail customers: £10,000 Corporate and FI customers: £100,000 |
|
Santander UK plc |
Yes, phone and internet |
£100,000 |
*Telephony limits available upon request.
Information is updated as and when a limit changes, last entry: 16 October 2012
What are the transaction limits for standing order payments using Faster Payments?:
Bank |
Availability |
Value Limit |
|
Barclays |
Yes |
£100,000 |
|
Citibank |
Yes |
£100,000 |
|
Clydesdale (including Yorkshire Bank) |
Yes |
£100,000 |
|
Co-operative |
Yes |
£100,000 |
|
Danske (Northern Bank) |
Yes |
£100,000 |
|
HSBC |
Yes |
£100,000 |
|
Lloyds Banking Group (Lloyds TSB, Halifax and Bank of Scotland) |
Yes |
£99,999 |
|
Nationwide |
Yes |
£10,000 |
|
Royal Bank of Scotland (including Natwest & Ulster Bank) |
Yes |
£99,999.99 |
|
Santander UK plc |
Yes |
£100,000 |
|
|
|
|
Information is updated as and when a limit changes, last entry: 19 January 2012
If your bank or building society is not a full member of the Faster Payments Scheme (listed in the above table) you will need to check your Faster Payments value limit with them. Some commercial, private banking or offshore (Guernsey, Jersey, Isle of Man) establishments also offer Faster Payments. The online Sort Code Checker can tell you whether the sort code you are sending a payment to is able to receive Faster Payments, Bacs Credits or CHAPS payments.