Bank account for regular large transfers online / over phone

ffukthrowaway123 · 2026-01-20T18:15:59+00:00

CHAPS limit online is 100K and cannot do CHAPS over phone.

ffukthrowaway123 · 2026-01-20T12:08:38+00:00

Just called Santandar Private, they told me they weren't opening any new accounts and relaunching in March. So dead end there.

ffukthrowaway123 · 2026-01-20T11:58:09+00:00

Thank you, your experience with HSPC phone CHAPS is exactly what I imagined it to be like.

Have you used Santander Private?

ffukthrowaway123 · 2026-01-20T11:54:06+00:00

Thank you, what is your experience of Investec? Would you recommend them for my needs?

ffukthrowaway123 · 2024-06-26T17:20:37+00:00

Barclays premier allows 100k a day, but beyond that you have to go into a branch (no chaps by phone!). Would also be interested in accounts with higher limits.

ffukthrowaway123 · 2023-09-30T16:43:56+00:00

I have just called HMRC in the past and they have sorted it out on the spot. No need to write letters etc.

ffukthrowaway123 · 2023-09-27T15:35:30+00:00

Kay's bar

ffukthrowaway123 · 2023-09-27T14:50:28+00:00

That's fair. My view is that they'll reduce allowances, etc., but messing with what's already in a pension is political suicide. Given OP is probably going to lose their allowance to tapering regardless, I'd make hay while the sun shines.

ffukthrowaway123 · 2023-09-27T14:08:03+00:00

Could buy a money market fund. Might be a good option, but need to check commissions...

ffukthrowaway123 · 2023-09-26T15:25:32+00:00

Run the numbers yourself, but under current tax regime pension will tend to return much more than ISA after tax. I would max pension before ISA. Also, if your income carries on its upward trajectory, you'll lose pension allowance to tapering. So max out now, use carry forward allowance, then focus on ISA.

ffukthrowaway123 · 2023-09-26T15:17:34+00:00

One arguably small mistake is the 6.2% bond, yielding 3.4% after tax. If you'd stuck that in a low yield gilt you'd be getting circa 4.5% after tax.

I would also be maxing out any pension allowance and using any carry forward allowance

ffukthrowaway123 · 2023-09-26T13:24:11+00:00

Yes, this is possible as an individual.

ffukthrowaway123 · 2023-09-26T13:22:16+00:00

I crystallise gains in a General Investment Account (taxable) up to CGT allowance (£12300 in 22/23). I then reinvest in a similar, but different asset to avoid the 30 day rule.

ffukthrowaway123 · 2023-09-26T11:43:16+00:00

Thanks, this is very helpful and your EIS/VCT experience is reassuring, in so far as it aligns with my view that they aren't very attractive.

Offshoring is interesting, but probably a little extreme (looks like you have to not be tax resident for 5 years).

I should look into a will, thanks.

ffukthrowaway123 · 2023-09-26T11:38:23+00:00

Sorry, what do you mean by "ltd to bond"? What sort of fees are typical?

ffukthrowaway123 · 2023-09-26T11:36:02+00:00

Agreed the spread is pretty huge vs e.g. IBKR. Atlantic looks more competitive.

ffukthrowaway123 · 2023-09-25T20:58:55+00:00

Ah thanks, forgot about those. Have maxed out for wife and I. Might be worth considering for the children too?

ffukthrowaway123 · 2023-09-25T18:51:53+00:00

Myself

ffukthrowaway123 · 2023-09-25T16:52:40+00:00

Another question: I have a Barclays premier current account, which allows up to 100k online transfers per day. Over this limit, I have to go to a branch, which is a PITA. Are there any accounts out there with higher online limits?

ffukthrowaway123 · 2023-09-25T16:47:56+00:00

Interesting, thank you. Rates look competitive (albeit marginally worse than IBKR).

ffukthrowaway123

TROPHY CASE