Which other banks let you spend £100k a day on your card?
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I’ve recently been in a similar situation, however my rate limit was approved within 30 minutes. Really happy with the way it was all handled although I would have been annoyed if I had to wait more than that.
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My bad, most accounts have a £25k-50k daily bank transfer limit. But Santander has a £100k daily max and Revolut has a £500k limit (not a bank though)
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Wowzer!
Some very lax servicing there, or over confident about their security.
Then again, I don’t hear of too many being caught up by this limit 
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I think lax is a fair word
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I could understand business customers or high net worth customers having such limits.
But your average Joe in an average job (magically has £500k to spend) could just send it freely on a standard plan.
Revolut does have variable limits for topping up etc so maybe their counter is the credits to the accounts instead of funds leaving. It does seem trigger happy on the verification checks (according to multiple sources online, mainly Reddit).
“What is my Annual top-up limit?
Unfortunately, we’re not able to share this limit with you, but, your annual top-up limit reset every year on the day your account was created, this limit is different for all users, and it will increase based on your account’s usage.”
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Most personal bank accounts have £20-25k looking around. Barclays can do £50k
HSBC its £25k
NatWest/RBS £20k
Lloyds/Halifax £25k
Barclays £50k
Nationwide £25k Edit: £100k with 4x £25k
Santander does have £100k, but to clarify thats 4x individual £25k payments within 24hrs. I can’t see any that match that.
R is very unique with its £250k per transaction and half a million a day.
If you have millions to play with then a bank like Coutts tops that with no limit.
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Starling? All they say is that bank transfer limits apply to your personal account and that the maximum is £1 million per transaction (i.e. the Faster Payment limit). They also say that they may require further information from you for large transfers.
As I’ve already mentioned, I have transferred over £30k in a single transaction from Starling recently without any issues.
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Nationwide has £100k limit if sending to a previous payee
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Santander also allow you to change the limit in their app. They allow you to choose a payment limit up to £25k. The idea being lower limits can protect you from fraud. It’s quite a cool feature putting you in control. Payments over £25k can be done over the phone or in branch, and a maximum combined limit is £100k. It’s also one of the banks that allows you to send up to £100k in one go via faster payments rather than defaulting to CHAPS and slapping you with a £25 charge.
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They can, but from personal experience their anti fraud checks are a pain in the backside.
I think I’ve written about this before, but my dad tried to send me £5k (I was an existing payee) and they wanted him to drive 150miles to the nearest branch to verify the payment 
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My experience of buying a house with monzo was pretty painless, but I was expecting extra checks so requested the limit increases early in the day, and had ID documents available. Overall though, the experience was straightforward, reasonably speedy (a couple of hours wait each time, I think), and easier than going to a branch would have been.
I vaguely wonder how meaningful the other banks transfer limits are. Sure, they’re higher, but they no doubt reserve the right to hold and verify any transaction, even when the amount is much lower.
I can see, though, for some, that £10k is too low for day to day use. Will monzo increase the limit permanently for high net worth individuals? (Sadly, this is not a problem I have…)
I know this is 5 years old, but worth a quick read to remind everyone that it’s not all roses at the other banks - RevK®'s ramblings: Real banks are shit, but "challenger" banks are more shit, maybe?
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Maybe, but even if they did the account may not be suitable. Someone making frequent 10k / day payments is likely to have over the FCS cap in their account, and anyway might be better off banking with Coutts or something who can ‘actively manage’ their wealth 
. And they likely spend on a high end credit card for convenience, or phone their PA to sort payment out (and banks like Coutts are used to giving family offices etc access).
It’s a different sort of customer - a profitable one sure. But I for one would not enjoy Monzo putting too much effort in to competing in that field.
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TL;DR - Monzo support is now very poor and the payment limits flow can result in a flat refusal with zero explanation leaving you in a very difficult position.
Long story…
Just going through this nightmare for a house purchase and have payments to make from Monzo and First Direct, the contrast in service is pretty stark.
I did First Direct initially as I thought they would cause the most trouble, instead I call them, within 30s someone picks up the call and guides me through the process, payment done in less than 5 minutes. Great!
Next Monzo - this will be easy I thought - how wrong I was. First I hit the limit issue, I read the piece about 24 hours and the guidance that you should simply state “issue making a payment” if it’s urgent, no problem I’ll hit chat, done it a few times in the past and response was always great, this time it seems very different - no reply, an hour later, no reply. I try calling, 20 minutes of hold music, I get someone who flatly says they can’t help me and I need to use the chat - well yeah, if there was anyone there!
They guide me to use the limit increase “flow”, despite the urgency, and to be fair it does appear to raise the limit quickly, great, except it’s a very basic flow,.doesn’t account for complex payment situations, only assumes you have one payment to make.
In my case I have a second payment to make a day later, no problem, I’ll run the “flow” again, this time it takes longer to approve and I get a simple “We can’t raise your limit” tap for more information, the only information it gives is “you can’t make your payment”. Gee thanks. Now I am back on chat, waiting for anyone to care. And I still can’t make my payment!
This is account closing kind of behaviour, if you are preventing me accessing my money at a critical moment with zero support.
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Is the money in your actual account and not a pot/savings account?
In my actual account, moved it a few days ago.
If you have a time sensitive payment (e.g buying a house) and hit this limit for the first time, it’ll take hours or, in my case, days to transfer your money
Thankfully after several hours of mess I think I have it resolved. But this experience I think is a deal breaker. The one thing you want from a bank is easy access to your own money. While First Direct were great compared to Monzo, I don’t think I’ll pivot to them as their app experience isn’t as good.
What would would people recommend as an alternative, Starling? Revolut? Anyone used either of them for large transactions?
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Revolut are not a bank, don’t give them large amounts of money.
I’d pick a bank with a branch, preferably a local branch, so that if/when you need to do this again you can walk in there and have it solved.
You don’t have to have all your eggs in one basket though, if you were happy with how FD dealt with it, leave large amounts there and use a bank with a better app day-to-day.
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If you don’t mind, can I suggest that you raise a complaint setting out clearly the process and where it’s failed you? It might also be worth saying that it’s breached your trust and you’re thinking of leaving.
I ask because it’s important to me that this gets fixed and I think that a formal complaint will hold more weight. You might also get an apology and some compensation.
Totally down to you though. I understand if you’ve had enough and need to move on!
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