Published on: 1 March 2023

What are payment limits?

Payment limits are used by building societies and banks to limit the amount of money you can send from a current account.

We use them to reduce the risk of money going to scammers or to the wrong account.

Which payments will have a new limit?

We'll apply a new daily limit to:

  • Faster Payments
    These are payments made using the Faster Payments Service. This includes most single payments you send online (through our Banking app, Internet Bank or Open Banking) or in branch, whether immediately or in the future. And it includes if you send money to another account you have with another building society or a bank.

  • Member-to-member payments
    This includes any payments you make to others who also bank with Nationwide. It doesn't include transfers you make between your own Nationwide accounts.

  • Standing orders
    The limit will apply whether you set up the standing orders online or in branch.

The new daily limit won’t apply to other types of current account payment, such as CHAPS or international payments like SWIFT and SEPA.

What is our new daily payment limit?

Whether you’re sending money online or in a Nationwide branch, you’ll be able to send up to £100,000. This will be your new overall daily limit.

We’ll apply this to your current account. So, if you have a joint current account, you can only send up to £100,000 between you, not each.

We’ll work out your limit based on who you’re paying and what other payments you’ve set up that day. You can check your limit in our Banking app or Internet Bank when setting up a payment.

To help keep your money safe, we may apply lower limits to certain payments.

How will our new daily payment limit work?

When the limit resets

The new overall daily limit will reset every day at midnight UK time.

It will apply online and in branch

If you’re sending a payment online, you’ll be able to make payments of up to £100,000 per transaction up to your £100,000 overall daily limit.

If you’re sending a payment in branch, you’ll be able to make payments of up to £25,000 per transaction up to your £100,000 overall daily limit.

We'll limit some online payments to £25,000 per day

If you make your payment online, you’ll only be able to send up to £25,000 per day if you:

  • make a payment to someone you haven’t paid before
  • make a payment to someone you don't often pay
  • set up a standing order using our Banking app or Internet Bank.

What if I need to make a larger payment?

Occasionally, you may need to make a particularly large payment of more than £100,000.

If you need to make a large payment, you can:

  • spread the amount you’re sending over multiple payments on more than one day, or
  • make the payment using CHAPS.

New cryptocurrency limits

There is a £5,000 daily limit when buying cryptocurrency. This applies where we identify payments to crypto exchanges.

About this page

The content displayed on our recent news and articles page is for information purposes only, and is accurate at the time of publication. The information will not be maintained, and so we cannot guarantee that at any given time the information will be up to date or complete. Please verify any information you take before relying on it.

Nationwide is not responsible for the content or availability of external websites. Nationwide does not make any recommendation or endorse any advertising, products, services or other content on such external websites. Views expressed on third party websites are those of the public and unless specifically stated, are not those of Nationwide.