I’ve just run into this problem myself trying to buy a new car, as mine is on its way out. I transferred the funds from my saving accounts to my current account in preparation, then found out about this stupid limit.
I don’t understand why they have a limit at all, if you have the required amount in there. We have to verify any purchases using our fingerprint. Why isn’t that enough?
I’m now waiting for my limit to be increased, so I can buy the car before it sells to someone else. It’s an online only car seller (Cazoo) so I can’t just put a deposit down to hold it.
UPDATE:
I’ve just had my request verified about an hour ago and managed to buy the car. So it seems, in my car at least, that the process has been sorted out now. As I only made the request late last night. All I had to do was the short video asking for the limit increase, and include a couple of pictures showing what I was trying to purchase.
I’d imagine saying to a bank that you want to increase your limits to buy a car sets off alarm bells and if @James_Mc had sent a Facebook Marketplace link/ screenshot for example, more questions would have followed to protect the customer from scams.
It’s intrusive, but I don’t have stats to back this up, but I’d imagine the vast majority of cars are sold via dealerships or car supermarkets who would take payment via card or finance - so for the few transactions that are bank transfers, the risk of the transaction being a scam is much higher.
