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by emdowling 2439 days ago
Salary payments are typically still BACS and I think Faster does have a transaction limit in the 10’s of thousands of pounds range.
2 comments

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...

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.