Sorry if it’s in the forum somewhere (I can’t find it if it is).
I want to transfer a large sum of money from one legacy bank to another that’s pays higher interest.
My question is what is the best way to do this without having my bank thinking there’s fraud or theft going on and having phone calls, texts etc and having to prove it’s me moving money legitimately?
I can’t remember the scenario, but I did something with a smaller amount of money (hundreds) and my bank stopped the payment, called me up and I had to jump through hoops walking through Tesco trying to remember my security to get my account unblocked.
I don’t think you can say with absolute certainty limits involved and what triggers what.
For example l regularly transfer lots of amounts to my partners bank account via a Lloyds Bank account and often they will stop payments. From the conversations with their fraud Ops people their algorithms take into account a massive range of data points. One time it seemef that their algorithm took exception to the fact l made one transfer from an app, then a few moments later from my works laptop which they worked out had remote monitoring software on it (of course it’s a work machine). They never confirm that is the case, just my assumption.
I have had many conversations with Lloyds fraud teams, they get very long but fascinating (for the data geek in me) the range of points that are validated against each transaction.
As previous poster said if you are concerned go to branch with ID etc if the account gives you access to a branch network.