Internet Saver Daily limit on transfers to other linked banks.

  • JohnShadow's Avatar
    On the look out
    How do I move money out of my Internet Saver Account? - Tesco Bank Community
    "Tesco Bank Telephone Banking call us on 0345 678 5678* to withdraw larger amounts"
    Last edited by JohnShadow; 18-05-21 at 05:06.
  • 7 Replies

  • Verified Answer

    25H's Avatar
    Community superstar
    Verified Answer
    Hi John @JohnShadow

    As the amount you're looking to transfer is greater than £10,000 there is a daily limit as you've identified.
    Of course you can transfer £10,000 each day until you've transferred the amount you want.

    Unfortunately as it is a large amount Tesco Bank would want you to call them on the number you've got as they would need to verify.

    I'm really sorry there is no other alternative for you.
    Hope you get it accomplished.

    Take care, Caz @25H
  • Verified Answer

    JohnShadow's Avatar
    On the look out
    Verified Answer
    @25HThanks I used tel 0345 678 5678 although threatened to be a long wait was achieved immediately in 10 minutes and transfer accomplished once I had given two security numbers and other details.
    It appears any future transfers require a phone call as opposed to a letter.
  • 25H's Avatar
    Community superstar
    Good morning John @JohnShadow

    You can withdraw up to £10,000 a day online. If you need to withdraw more, then please contact us. If you're transferring to another Tesco Bank account in your own name then there is no limit on what you can transfer.

    To transfer money out of your account online, log in to Online Banking, click on your account and then select 'Manage account'.
    Select the 'Move money out' quick link on the Account Overview.
    Please note that you are only able to transfer money to an account in your own name.

    To transfer the money to an account you've paid into before:
    Choose the payee from the drop-down menu and the sort code and account number for the receiving account will be completed automatically.

    To transfer the money to an account you've not paid into before:
    Select 'New payee', complete the account details, check this information has been entered correctly before selecting 'Continue'.
    Select the payee from the drop-down menu and enter a reference, the amount and the payment date, then 'Continue'.

    Please note: if you withdraw money from a Cash ISA you lose the tax free benefits for that amount and you may not be able to pay it all back in within the same tax year. Daily withdrawals are not available for Junior Cash ISA accounts and early withdrawals are not available for Fixed Rate Saver accounts.

    Hope this helps!!
    Warm wishes, Caz @25H
  • KellyT's Avatar
    Your Community Expert
    Thanks very much for stepping in to assist @25H :) If this has helped with your query, can you please 'accept as solution' @JohnShadow? This will help other customers on the Community with similar queries. Please let us know if there's anything else we can help with.
  • JohnShadow's Avatar
    On the look out
    Thanks for the information, however that all applies to less than £10,000/day.
    "Please contact us". Where, How
    I need specific instruction on how to transfer money to a different bank greater than £10,000
    Yesterday I have already attempted "Move money out" to a different bank (as linked), with account in the same name as limited to £10,000 per day. Which will happen each day to get the transfer accomplished.

    The only viable solution is to write a letter to Tesco Bank (Tesco Internet saver terms and conditons) or phone.
    Tesco Bank Saving Operations
    PO BOx 27017
    Broadway One Glasgiw G2 9FH
    to request the transfer
    or hours to get through 0345 678 5678
  • JoeC's Avatar
    Your Community Expert
    Hi @JohnShadow, if you are looking to transfer over £10,000 to another bank, you will need to give our Savings team a call on 0345 678 5678 (Mon - Fri: 8am - 8pm, Sat - Sun: 9am - 3pm). You should get straight through to our team if you call. I hope this helps!
  • 25H's Avatar
    Community superstar
    Hi John @JohnShadow

    I'm really pleased your transfer has been accomplished.
    Thanks for letting us know.

    Warm wishes, Caz @25H