They are still used in school banking (which basically equals Lloyds by definition).
I bank with Nationwide and you still need a card reader to do bank transfers.
I do too and I don’t.
I think it may be for large amounts. I had to use it when I bought my car and there have been a couple of other occasions.
I’ve set a resonably low but very useful mobile app transfer / payment limit, have to log in to my bank’s main website to alter it or make a larger transfer.
Being able to transfer family and friends half the cost of a restaurant bill instantly is very convenient.
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Ah, OK. The largest I have done in the last few months is about £1500, so you could be right.
Never use their website, just the App.
Actually, scratch that. About 6 months ago, I paid just shy of £10K on my debit card, without using a card reader, so I don’t know what the limit is.
I’m with Nationwide and have one of those too. I think it’s mainly for transferring money to accounts you haven’t transferred to before.
I had to use it the first time I T/Fd some money to the FoLs accounts. I’ve not had to use it on the many, many, many subsequent occasions.
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On my (Lloyds) account there’s a maximum daily transfer level of £10k unless you make special arrangements.
I know it is slightly off topic but on ApplePay and GooglePay there is no limit.
When I bought my house for cash I had the full amount in my current account but couldn’t transfer it to a solicitors client account without the banks intervention.
I was actually quite glad there were all the security measures in place, I appreciate it is probably to protect the bank, but it protected me too.
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You can avoid it if you have things set up right - I can set up new payees based on a face ID unlock on my phone.
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And I can, based on fingerprint.