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Just been informed that as from the end of this month the Halifax will be refusing cheques. Is this the banks revenge on the public for ganging up on them.? At my bank,Nationwide Bairrespective of the amount,they charge £25 for an electronic transfer.A nice little money earner on the way. So to continue the family syndicate i have to e-transfer the sum and get charged £25 for it,or send it cash in post,not a good solution.
You could also use PayPal for transferring money.
Wasn't there a bit of an uproar about stopping the usage of cheques, a short time ago, and the banks had agreed on a longer term reprieve?.
Pineman, not really keen on internet banking but maybe have to change my opinion. spuds, Don't really trust Paypal,recently made a mistake on upgrading WinPatrol to full version,BillP's support team sorted it though.Terrific service from them. As the replies show i am a bit of an old fuddy who will have to adapt to the new realities. Yes there was a reprieve from 2 years ago,so it has been coming.
" they charge £25 for an electronic transfer "
BACS transfer is FREE and takes 2/3 days
CHAPS transfer is usually charged, typically £25, and is same day. This is usually the system used for larger sums, i.e. Mortgage deposits etc.
Are you sure they are refusing cheques. The only cheque related thing that I can find is that Cheque Guarantee cards cease to be valid from the end of this month.
I think the change is the ending of the association between cheques and "cheque cards"
In other words, cheques are still there but can no longer be guaranteed by a cheque card
Halifax page on end of Cheque guarantee cards http://www.halifax.co.uk/bankaccounts/help-guidance/common-enquiries/cheque-guarantee-card-scheme/ if you scroll down the page "You can still use cheques after 30th June 2011"
Regarding a BACS transfer, I think that there is a £10,000 limit if generated by online banking.
"I think that there is a £10,000 limit if generated by online banking."
That's correct - there's a limit of £10,000 per day for online BACS transfers. It's part of the banks' efforts to combat money-laundering.
Living miles from our nearest town, I and my wife have used Internet Banking for many years now. I can't remember when I last went into my branch. I doubt if they would know either of us. We set up S.Os, D.Ds transfer money between our bank and Internet Building Society accounts with no problems what so ever. We regularly go online and check our accounts and are able to see exactly from day to day our balances. Neither of us have paid any bank charges for over 12 years. Apart from day to day household food shopping which we also could if we wanted, we buy most things on line.
there's a limit of £10,000 per day for online BACS transfers
Not too much of a problem for most of us most of the time.
The only time I came up against it was when buying the maximum amount of Premium Bonds online. Easily solved by buying them in 3 lots over 3 days.
I used CHAPS when transferring the money for my house.
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