The Lemon Fool

I have just tried to buy some Premium Bonds online using my Lloyd's debit card - and it has been refused
The money is there, and the details were correct
Is there a transaction limit? It's not clear on the Lloyd's website (attempted transaction was £30k)

AleisterCrowley wrote:
I have just tried to buy some Premium Bonds online using my Lloyd's debit card - and it has been refused

The money is there, and the details were correct

Is there a transaction limit? It's not clear on the Lloyd's website (attempted transaction was £30k)

I'm not sure regarding Lloyd's, but I've hit the odd similar problem with my Natwest VISA Debit card over the years, and all I do now is get the transaction ready to go again on my PC, and then ring the bank number that's usually written on the card you're trying to use.

This does three important things -

1. It allows you to ask why the previous transaction failed - which could be important to know if you're correct about there being any limit on unauthorised transactions, or any other reason that you're not currently aware of...

2. It makes sure that any 'lock' that may have been put on your card from the previous failed transaction is manually cleared by the bank when you ask them to check it - better than finding out it's still locked whilst trying to pay for a trolley-load of Morrisons shopping...

3. It allows you to ask them to then authorise and witness the new transaction as you try to put it through - they usually see it get authorised at their end, and you all go away happy, most of the time...

I've always been very impressed by the customer service delivered by the 'card number' telephone line - they usually seem very experienced with these types of common issues...

Cheers,

Itsallaguess

AleisterCrowley wrote:
Is there a transaction limit?

It's not clear on the Lloyd's website (attempted transaction was £30k)

The Lloyd's website does seem to indicate that there's a daily limit of £25,000 for online transactions -



Source - https://www.lloydsbank.com/online-banki ... types.html

I'd still give them a ring using the number on the card - make sure there's no lock on it following the earlier failed transaction, and then take their advice as to the best way to proceed - hopefully they'll be able to authorise a one-off transaction over the above limit, or they may recommend making two smaller payments over a couple of days...

Cheers,

Itsallaguess

I wonder why Banks have different limits
First Direct's is £49,999

Itsallaguess wrote:

AleisterCrowley wrote:
Is there a transaction limit?

It's not clear on the Lloyd's website (attempted transaction was £30k)

The Lloyd's website does seem to indicate that there's a daily limit of £25,000 for online transactions -



Source - https://www.lloydsbank.com/online-banki ... types.html

Cheers,

Itsallaguess

The £25k limit is for transfer/payment transactions made using Lloyds online banking and the Lloyds app. The OP is making the transaction on the NS&I website using a debit card.

We have seen debit card limits with Smile accounts and Yorkshire Bank who both have £20k limits. Multiple tranactions went through ok at £19900, staggered over several days. This isn't new and it's been the case for several years. When we spoke to the banks they told us that they cannot say what the limit is but suggested a figure under £20k should go through ok.

There is no specific limit on debit cards AFAIAA and there is no connection with the banks daily on-line payments limit. Banks internal systems probably have specific limits for each client on which to base automated transaction acceptance or rejection. If you call the bank to warn them of a large transaction and the reason for it, and there are sufficient funds in the account, there will be no problem.

This must happen quite often when, for example, one buys a car.

The online payment limit is set by the bank for the account type. For example at NatWest it is £20k a day for a normal current account, but is £50k a day for a Premier Account (which doesn't cost anymore but has to be applied for and has certain conditions).

I have had much more trouble trying to use my Lloyds card for online transactions than any of the other cards I hold.

For that reason I have stopped using it for online transactions - it works fine for contactless or where I have to enter a PIN.

I just assumed that Lloyds has more delicate security checks than the other banks.

Thanks all - I guess I'll have to contact them (wish me luck...)
I did find the bit about online banking/app limits (£25k) but wasn't sure if this applied to debit card transactions on the NS&I site

I'm mildly pleased that there are some debit card limits for online transactions, to reduce abuse (but as someone else has noted, multiple smaller transactions under the limit will usually work OK, and the crooks know this!). It may be slightly inconveniencing, but as others have pointed out, ringing the bank before doing a large transactions will usually smooth the path.

I'm quite displeased there is a £20k or so debit card limits for online transactions.

It really does not protect me, a slightly less than £20k theft would still be devastating, at the least it would require me to rearrange my finances for the entire year. OTOH I will occasionally perform transactions of that magnitude, so it will be an inconvenience.

The limit is all about protecting the bank (which can regard the occasional £20k loss as a cost of doing business), and not at all about protecting customers.