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Lloyds TSB Online transfers

dik Jun 24, 2005

  1. dik

    dik Member

    A word of warning if you are using Lloyds TSB to perform an online transfer when buying/selling a car.

    When I recently bought my S3 the seller (AshS3) was also a Lloyds customer so I figured a direct online transfer would be perfect... turn up, last minute car check, transfer greens, pick up keys, drive off.

    Simple, no drafts, dogdy notes, no clearing nothing...

    I knew that there are online transaction limits so I rung Lloyds Internet Banking to confirm and was told that I could transfer anything I liked so long as it was between two LTSB accounts.

    (I even made sure to tell the person the exact circumstances of who when where etc...)

    To cut this story short, online transfers are limited to £7,000 per transaction, and £10,000 per day between diff peoples accounts and £50,000 between your own.

    Therefore trying to spend over £10k in one sitting proved to be v. difficult and more to the point embarrasing and a complete waste of time for me and AshS3.

    Therefore if anyone is going to try this in future, be careful, dont listen to the customer services and check before you click.

    Although transferring money this way is brilliant once you get past the limits.. far more convenient and saves ALOT of banking hassle.

    Happy buying/selling
  2. bravepilot

    bravepilot Member

    Cheers for that info Dik, t'was news to me! /ubbthreads/images/graemlins/ok.gif

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