Re:I just lost my wallet on the way home from work
by the_mitsuhiko on Tuesday October 15, 2019 @04:57PM
(#21263669)
Unless something changed pretty much all payments in the UK are “Faster”.
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Re:I just lost my wallet on the way home from work
by emdowling on Wednesday October 16, 2019 @12:07AM
(#21266958)
Salary payments are typically still BACS and I think Faster does have a transaction limit in the 10’s of thousands of pounds range.
Re:I just lost my wallet on the way home from work
by deadbunny on Wednesday October 16, 2019 @05:26AM
(#21268538)
IIRC the limit according to the standard is £100,000/day but most banks impose their own arbitrary limit. Assuming things haven't changed in 5 years, this[1] lists the limits for a lot of banks. I can also add to the list that Monzo's is £10,000/day.
1. https://www.moneysavingexpert.com/news/2014/11/customers-bei...
Re:I just lost my wallet on the way home from work
by daveoflynn on Wednesday October 16, 2019 @08:32AM
(#21269645)
BACS is generally cheaper at volume. In addition, BACS Bureau allows a payroll company to transfer money directly from your employer's account to yours without the money ever reaching their account.
All fixable, but payroll companies are generally chosen on price, not innovation.